Estate Planning information from Mike Walters: Wills and Trusts

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Last week we introduced California attorney Mike Walters as our trusted legal advisor. The Entertainer searched long and hard to find a trusted attorney that could answer reader questions and we found one of the best. Walters & Ward has 20 locations throughout Southern California and Mike Walters is available to help you.

This week Mike Walters talks about the importance of Wills and Trusts, and why they need to be included in your plan for the future.

According to Walters, you live life with a plan. If you plan life, you should also plan for your death. Although a somber subject, it is important to have a proper estate plan to protect your loved ones and your property in the future.

An estate plan has many parts; the most fundamental of which are Wills and Trusts. They both allow you to choose how to distribute your estate after death.

Wills and trusts do different things, both equally important. A Will allows for beneficiaries to be named and designated to receive specific items of an estate.  However, a Will goes into effect after death must be probated.

In order to avoid the expensive and lengthy process of probate you must have a Trust, specifically a Living Trust. A Living Trust allows you to start managing your assets now.

For even more information on estate planning and on Wills and Trusts, visit Walters & Ward also offers free workshops for anyone to come and learn more. You can sign up online or call 1-877-779-9729 to reserve space at one of the upcoming workshops.

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