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PLANNING AHEAD

“Should I have a Trust Plan or a Will Plan and how are they different?”

Estate Planning is what we like to call “Planning during your lifetime”. Let’s be honest – an Estate Plan isn’t for the benefit of you. An Estate plan is for the Benefit of your loved ones. You plan now so that your children or heirs don’t have to guess at what you might have wanted, fight over what you had, or absorb the confusing process and exorbitant expenses that come with dying. At Pierchoski Estate Law, we believe you have to know what ALL your options are so that you know what type of Estate Plan fits your circumstances and wishes best.

One of the most common questions we receive is “What is the difference between a Will and a Trust?” Both are excellent Estate Planning tools but both have very different functions – it all depends on what your end goals are! That’s where we begin – what is your end goal? We answer that question with you and work backwards from there. Maybe you have condensed assets and only a single heir with no worries about the public probate process. Perhaps a Will Plan is a good fit for this circumstance. Maybe you have more complicated assets, multiple heirs, potential creditors, a child that you don’t want to disinherit but probably shouldn’t receive a large inheritance all at once…etc. Perhaps a Trust Plan is a better fit, as Trusts allow for limitless imagination when it comes to distribution and control. These are the types of things I discuss in detail at my Free Educational Seminar, which is where we encourage everyone to begin. Attending this Free Educational Seminar will provide you with clarity on your options, a look at our process, plan pricing, and more. Once you’ve attended a seminar (or viewed our pre-recorded seminar online) you are given the option to schedule a complimentary two hour meeting to discuss, in detail, your specific circumstance, wishes and desired estate planning outcomes. Both the seminar AND the two hour meeting are completely free, as we believe you should have all the information about your options before you decide what type of plan you want to put in place for your loved ones. 

Estate Planning is one of the most procrastinated tasks we get around to accomplishing…or not! I invite you to my next Free Educational Seminar and encourage you to begin learning about your options today. Is it ever “too late” to begin Estate Planning? Of course not! However, we also do Medicaid Planning and Elder Law at this practice and I can say with certainty that depending on your circumstance, your options can become very limited the longer you wait!