Dayton Trust & Wills Lawyer

Assisting Clients With Trust & Wills in Centerville, Kettering, and the Surrounding Areas

Planning for the future involves making crucial decisions to safeguard your assets and ensure your loved ones are provided for according to your wants. At Arnold & Arnold, our trust & wills attorneys in Dayton is dedicated to guiding you through the complexities of estate planning with clarity and expertise. Whether you're considering establishing a trust, drafting a will, or navigating probate issues, we are here to deliver personalized solutions tailored to your needs.

Contact Arnold & Arnold today to get started with our trust & wills attorney in Dayton.

What is a Trust?

A trust is considered a legal arrangement where a trustee holds and manages assets on behalf of beneficiaries according to the terms set by the grantor. It allows for the distribution of assets without the need for probate, offering privacy and control over how assets are managed and distributed.

What is a Will?

A will, or last will and testament, is considered a legal document that outlines how a person wishes their assets and property to be allocated after their death. It appoints an executor who manages the estate and ensures assets are distributed according to the deceased's desires, as outlined in the will.

Benefits of a Trust

Creating a trust provides several advantages, including:

• Avoiding Probate: Assets maintained in a trust are distributed outside of probate court, saving time and costs associated with the probate process.
• Privacy: Unlike wills, trusts are private documents, offering confidentiality regarding asset distribution.
• Control: Grantors can specify conditions under which beneficiaries receive assets, providing control over how assets are managed even after death.
• Continuity: Trusts can continue to work after the grantor's death, ensuring ongoing management and distribution of assets.

Benefits of a Will

Having a will offers important benefits, such as:

• Asset Distribution: Ensures assets are distributed according to your wishes, preventing state laws from determining asset allocation.
• Executor Appointment: Allows you to appoint a trusted individual to handle your estate and carry out your instructions.
• Guardianship: Enables you to designate guardians for minor children, ensuring their care according to your preferences.
• Peace of Mind: Provides clarity and peace of mind that your loved ones will be delivered for as per your intentions.

FAQ: Trusts & Wills

1. What is the difference between a trust and a will?
A trust is a legal arrangement where assets are managed by a trustee for the benefit of beneficiaries, allowing for immediate distribution outside of probate. A will is a document that specifies how your assets should be distributed after your death and requires probate for execution.

2. Why should I consider creating a trust?
Trusts can help you avoid probate, maintain privacy regarding asset distribution, and allow for more control over how and when your beneficiaries receive their inheritance.

3. Do I need a lawyer to create a trust or a will?
While it's possible to create these documents without legal assistance, working with an experienced attorney can help ensure that your wishes are clearly articulated and legally enforceable.

4. What types of trusts are available?
There are various types of trusts, including revocable trusts, irrevocable trusts, special needs trusts, and charitable trusts, each serving different purposes and offering distinct benefits.

5. Can I change or revoke a trust once it’s established?
If it’s a revocable trust, you can change or revoke it at any time during your lifetime. Irrevocable trusts, however, generally cannot be altered once established.

Contact Arnold & Arnold today to get started with our trust & wills attorney in Dayton.