The Difference Between a Will and a Trust

Wills and Trusts in Ohio

Suppose you are a resident of Toledo, Ohio, seeking to safeguard your family’s future and property. In that case, we at Heban, Murphree & Lewandowski, LLC, are equipped to guide you in crafting a will or establishing a trust. Understanding the distinctions and commonalities between these two legal instruments is crucial, as they are often confused.

With our experience of over 150 years combined, we are adept at explaining these legal entities in an accessible manner tailored to your unique needs. Our commitment is to aid you in formulating the document most suitable for you.

Delving Into Wills

A will, also known as a last will and testament, is essential for safeguarding your family and assets. A will enables you to:

  • Nominate a guardian for your minor children
  • Appoint a custodian for your minor children’s property
  • Specify the distribution of your assets
  • Designate an executor to handle your affairs

If you do not appoint an executor, the probate court can assign someone to execute your will. Our legal team in Toledo, Ohio, will assist in creating a comprehensive will that minimizes the potential for disputes. To finalize your will, we’ll ensure that you and two other witnesses sign the document in each other’s presence.

probate law firm

Comprehending Trusts

A trust you create with our attorneys is known as a living trust because you establish it while alive. A trust is an arrangement where you, the settlor, appoint a trustee to manage your assets to benefit your designated beneficiaries.

Understanding that each asset must be transferred individually into the trust is essential. Assets not included in the trust are subject to the terms of your will. A trust can save your loved ones time and money as it bypasses the probate court process. Unlike a will, a public document, a trust remains private.

Choosing Between a Will and a Trust 

Our accomplished probate attorneys are here to guide you through the intricacies of creating a will or establishing a trust. With Heban, Murphree & Lewandowski, LLC, you can immediately embark on the journey of protecting your loved ones and hard-earned property.

We aim to provide you with a clear understanding of the nature of wills and trusts, enabling you to choose the option that best fits your legal requirements. Our team in Toledo, Ohio, is committed to offering you peace of mind, knowing that your family and assets are well-protected, come what may.

Act Today for a Secure Future

The time is now to secure the future of your loved ones and safeguard your property. Contact us at Heban, Murphree & Lewandowski, LLC, to create a will or trust tailored to your needs. Give yourself the peace of mind you deserve by ensuring your loved ones and assets are protected no matter what the future holds. 419.662.3100