Archives for Financial Planning

Do You Need a Will or Trust? Or Both?

When it comes to estate planning most of us are at least familiar with the terms “will” and “trust.” However, it’s important to understand how they work. One difference is that a will goes into effect after death while a trust can be used to distribute property before or after death. Wills A will is a legal arrangement that has several important functions and usually requires at least one witness. (State requirements vary, for instance, two witnesses are required in Arizona.) A will is used to designate your chosen guardian/s for any minor children. A will gives instructions on how
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Categories: Estate Planning.