At Smith Barid, LLC, we often hear the question, “Do I need a will, or should I create a trust?” If you’re asking yourself the same thing, you’re not alone. And the answer is it depends.
Let’s break down the difference between a will and a trust, so you can start to understand which option fits your family’s needs best.
Wills: The Basics
A last will and testament is a legal document that spells out who gets what when you pass away. You can also use it to name guardians for your minor children and an executor to manage your estate.
However, wills go through probate the court process of validating the document and overseeing the distribution of assets. Probate can be time-consuming, expensive, and very public.
Trusts: More Than Just for the Wealthy
Many people think trusts are only for the rich, but that’s simply not true. A living trust (also called a revocable trust) is a powerful tool for managing your assets during your lifetime and after your death all while skipping the probate process.
Trusts offer privacy, efficiency, and often more control. They can be especially helpful if you own property in multiple states, have a blended family, or want to protect a loved one with special needs.
So Which One Do You Need?
Here’s the thing it’s not always either/or. Many Georgia families benefit from having both. A will can back up your trust and cover anything that didn’t get transferred properly. The trust does the heavy lifting when it comes to probate avoidance and privacy.
If you’re not sure what makes sense for your situation, you don’t have to figure it out on your own. We can help you build a plan that works for your unique family dynamic, your goals, and your future.
Ready to get started? Call our office at 912-352-3999 or click here to schedule an initial discovery meeting. We serve families across Georgia from our offices in Savannah and Marietta.
