Estate Planning

Without a Will setup, if an individual dies, something as simple as the custody of their children will be decided by the government. This problem can be avoided by simply setting up a Will. Even if someone has a Will, after they die the Estate will get stuck in a very lengthy and costly probate process. It could be a very long time before the children can have access to these assets. This probate process can be avoided by setting up a ‘Revocable Trust’.

A common mistake that people make is that after they die, they leave their wealth to their children in their individual names. If the child then goes through a divorce or creditor issue, those assets can very easily get depleted. On the other hand, if the same assets were left for the child under the protection of a Trust the assets will remain protected while at the same time accessible. The trust that will be used for this purpose is called an “Irrevocable Trust”. At Wall Street Alliance Group, attorneys we partner with specialize in helping clients with their Estate Planning needs.