Why is Estate Planning (Will & Trust) Important ?

Importance of Will & Trust - For Probate Avoidance and Securing your Minor Kids

Will & Trust is one of the legal documents that is created as part of Estate Planning.

In the U.S., when an individual passes away, all assets owned in their individual name — such as real estate, bank accounts, and investment portfolios — are typically frozen. The Probate Court steps in to validate the Will (if one exists) and appoints an Executor to oversee the distribution of assets according to the Will’s instructions.

If there is no Will, the court appoints an Administrator to handle the estate, distributing assets according to state laws of inheritance. Because probate is a state-level legal process, it can vary from one state to another — but it’s generally:

• Time-consuming, often taking several months or more

• Costly, involving attorney fees, court costs, and administrative expenses

• Emotionally stressful, especially for families already coping with loss

During this period, surviving family members cannot access the frozen assets — leaving them financially constrained at one of the most difficult times in their lives.

What Happens If Both Parents Pass Away?

If both parents pass away leaving behind minor children, the situation can become even more complex.
In most states, minor children are temporarily placed in foster care until a court determines legal guardianship. Even close relatives must petition the court, prove family ties, and wait for approval to bring the children home — a painful and uncertain process for everyone involved.

Probate Is Also Public

Another downside of probate is lack of privacy — all details about the estate, assets, and distributions become public record, accessible to anyone.

What You Can Do to Avoid This

The good news is - You can prevent this entirely.

By creating a Trust, you can:

• Avoid probate completely

• Maintain privacy over your estate

• Specify how your assets are distributed

• Appoint a trusted person to manage your estate

• Name guardians for your minor children.

A Trust ensures your wishes are honored quickly, privately, and with minimal burden on your loved ones.

The above are pointers to spark your awareness.

We are analytically driven, and offer our expertise to guide you in alignment with your objectives, risk tolerance and time horizon to structure custom solutions for you. Reach out to us for further insights or if you have questions.

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