Wills & Trusts: The Heart Of Estate Planning
Most family members want to follow their loved one’s final wishes concerning his or her assets and property. If there is no written record of what those wishes were or if the loved one simply never mentioned it, however, it can be hard to determine exactly what to do. These wishes can be documented through two types of documents: wills and trusts.
Law Office of Walter A. Twachtman, Jr., J.D., LL.M., LLC has been helping clients with estate planning issues for more than 50 years. Our founding attorney augmented his law degree from the University of Connecticut with a master’s of law degree in elder law and estate planning from Western New England University.
What Does A Will Do?
A last will and testament allows the person creating it (the testator) to accomplish several important tasks, including:
- Directing how his or her property should be distributed upon death
- Naming a guardian for minor children or an adult child with special needs
- Naming an executor, who will administer the terms of the will under the guidance of the probate court
- Creating a trust, if desired, so a beneficiary can use assets that are part of the trust without officially owning them
What Do Trusts Do?
A trust document can separate ownership of property from access to it. The person with oversight of the property is known as a trustee, and those who benefit from the property or assets are called beneficiaries. There are several types of commonly used trusts in Connecticut:
- A living trust, which assigns a trustee to manage assets belonging to the individual creating the trust (the grantor) during his or her lifetime and beyond
- A revocable trust, the terms of which can be amended multiple times during the grantor’s lifetime
- An irrevocable trust, which cannot be altered
- A testamentary trust, which is created as part of a will and becomes irrevocable upon the death of the grantor
- A special-needs trust, which protects a beneficiary who cannot manage his or her own affairs and addresses his or her medical and logistical needs while not jeopardizing government benefits such as Medicaid
Safeguard Your Family Legacy – Contact Us Today
Our firm’s attorney will guide you through Connecticut’s estate and probate legal processes, including how to set up wills and living trusts and how to carry out your executor responsibility. Call our offices in Glastonbury at 860-659-5657 or email our firm to set up an appointment. We work with clients from across Hartford County.