What Is Estate Planning?
Estate planning is about making sure your wishes are carried out and your family is cared for. With tools like wills and trusts, you can decide who receives your property, reduce costs and delays, and make things easier for the people you love.
Who Needs an Estate Plan?
If you own a home, have children, or keep savings and investments, planning ahead is important. Without a plan, important decisions are left to the courts. A well-prepared plan gives you control and provides peace of mind that everything is handled the way you intend.
Why Cordell & Cordell?
Estate planning is personal, and so is our approach. We listen first, explain your options in plain language, and then create a plan tailored to your goals. Our attorneys focus on clarity, compassion, and results, so you can move forward with confidence.
Will or Trust – Which One Do You Need?
Wills and trusts serve different purposes. This quick comparison will help you see the key differences at a glance.
Advantages: Simple to set up and maintain
Is Probate Required?: Usually. You may be able to avoid probate and Transfer On Death (TOD) designations and beneficiaries, but some assets like refund checks and tax refunds are not eligble for these. We will work with you to minimize the chance of probate.
Time To Distribution: If probate is required, there is a minimum 6-month waiting period, but it is often about 8-12 months if there are no complications.
Cost to Administer: Significant probate fees
Ease to Administer: Significant “red tape”. Judge approval required.
Advantages: Privacy, flexibility, protection for beneficiaries, saves on costs after death.
Is Probate Required: No, as long as your assets are owned by the trust upon your death. If you fail to put something in your trust, probate will be required. We provide instructions to help you put all of your assets in trust to avoid probate.
Time to Distribution: No probate required for assets in the trust. Funds may be available immediately, or after receiving a death certificate.
Cost to Administer: No required costs, but usually minor attorney fees depending on assistance requested.
Ease to Administer: No court involvement. If the beneficiaries are in agreement, minimal administrative burden.
