Bay Area Estate And Tax Planning Law Firm

Wills and trusts complementary, not at cross-purposes

On Behalf of | Sep 6, 2019 | Uncategorized |

So, what’s it going to be, a will or a trust?

Or maybe both.

Financial writer and researcher Bob Carlson recently wrote an article for Forbes on that specific question.

His bottom line is this: Both of those tools are centrally important in estate planning and often – as well as easily – work together in concert rather than in opposition.

We heartily agree with that at the established California estate planning Law Offices of Connie Yi in Pleasanton. We do understand of course that many individuals and families automatically focus on wills when they contemplate their planning needs. We stress on our website, though that, “Contrary to what many people believe, estate planning isn’t just about drafting a will.”

Indeed, timely and tailored planning in most instances is a comprehensive and integrated effort that that closely focuses upon multiple tools that can work in concert to promote key goals and legacies. Wills are of paramount importance in virtually any mix, of course, but their scope and utility is often enhanced when they comprise part of a larger and seamless strategy.

That is where a trust comes in (sometimes more than one trust in a given case), with the benefits a trust offers being myriad and distinct. We fundamentally note on our website that many reasons underscore why trusts are “an integral piece of estate planning for many individuals, couples and families in the Bay Area.”

Forbes contributor Carlson couldn’t agree more. We will spotlight his trust-linked analysis in on our next blog post.