Are you unsure what the main differences are between a will and a trust? Our attorneys want to clarify the intended purposes of each one. By having this information, you can make an informed decision about which one is best for your particular situation.
Wills- A Last Will & Testament allows you to divide your assets after your passing. You can name your final wishes along with guardians for your children if they are minors. With a trust, you are unable to name a guardian for your kids.
Trusts- There are a couple of benefits of choosing a trust. One of the advantages are your beneficiaries can skip probate court, so the process of dividing your assets will not be placed on hold. This document can also be kept private and a will cannot.
If you are still uncertain about which document is right for you, you can always reach out to our office for a consultation. We can answer all of your questions and provide personal advice that pertains to your situation. In Chicago, a business attorney can handle a variety of business law including wills, trusts, commercial transactions, finance, business formation, and regulations. Contact a Chicago business attorney at McQueeney & McQueeney by calling our experienced law firm at (708) 979-0614 today.