TRUST & ESTATE PLANNING
After the loss of a loved one, the last thing we want to shoulder is a legal undertaking regarding their Estate. Regrettably, probate must be dealt with.
Probate is the legal process of transferring property following a person’s passing into a living person’s name. This can be a complicated process, at the Law Offices of Mark Williams, your Guam Probate Attorney, we will help make this difficult time go as smoothly and swiftly as possible. We will assist you, guide you and skillfully resolve any issues with confidence and speed, all the while aggressively protecting your rights and interests. Your loved one’s estate should not be allowed to be torn apart. We understand legal issues that can arise during Probate and your job should be focusing your thoughts on remembering your loved one and our job will be to work assiduously to protect your family’s future. Time and money and even property can be lost if probate is not handled properly. At the Dededo Law Office we can help (but not limited to):
- Estate Administration – the gathering of assets of the estate, paying the decedent’s debts and estate distribution
- Letters of Administration – needed to recover estate assets
- Probate – Will
- Probate – No Will (Intestate)
- Probate Real Estate
- Will Contests/Estate Challenges
- Probate Litigation
TRUST
A Living Trust is an excellent estate planning tool, which allows management of your property both during and after the end of your life, and which avoids probate entirely, along with many of probates' hidden costs, delays, expenses, publicity, and tax implications, just to name just a few differences.
Most everyone understands what a Will is, but many people do not understand that a Will is nothing more than instructions for Probate.
In fact, you are guaranteeing that your loved ones (heirs) and your property will go through probate by writing a will. And the painful, expensive, slow and public process that your loved ones have to endure can all be avoided through effective Trust planning.
A Trust immediately transfers all of your assets into the trust, and upon your passing, a successor whom you identify assumes the amount of control you give to your successor in your trust. The amount of control and power you give to yourself and your successors depends on factors such as your tax position, desires for limited liability, degree of management or restrictions necessary over your property, and special needs for individual heirs, all as you decide.
Likewise, while you are living, the Trustee(s) and the Beneficiary(ies) may be united in one person, including yourself, or divided amount two or more persons as either Trustees or Beneficiaries, all depending on the degree of power and control needed for your property and your heirs, and how benefits should be distributed from your property, based on your plans and desires, as well as the factors named above (your tax position, limited liability, the degree of control or management needed for your property, the special needs of individual heirs etc.)
A Trust is also unique in several other respects, including for example, even after one's death, restrictions can be placed on the management, use or distribution of your property, based on conditions you name in your trust, such that violation of these conditions can result in the return of the property into the Trust - only a Trust can provide this unique treatment.
Another unique aspect of the Trust is that it can address periods of incapacity or disability, in ways a Will cannot (since it is only effective upon death), or other commonly used devices such as a power of attorney, which cannot be created once a disability occurs.
You have worked hard to build your life and acquire your property and other assets, and we at the Law Offices of Mark Williams are happy to discuss how we can help you protect your life's work and you and your family's legacy!
WILL
A will is a legal document that leaves instructions about what you want to be done with everything you own at the time of your death.
Everything you own at your death is considered your Estate.
A will appoints your executor. This is the person who is responsible for carrying out the instructions in your will; of who you would like to receive your property after your passing.
Don't wait until it's too late.
At the Law Offices of Mark Williams, we can help you organize and record your wishes in a legal way to make sure your wishes about inheritance are respected.