There is a lot of stigma, taboo, and existential fear associated with death. There is not really a need for an explanation why this is so, but yes, passing away and leaving the mortal world can be a daunting thought, to say the least.
However, the fact of human mortality should only convince you to be even more proactive with your life plans. Sure, there are many uncertainties in life, but death is imminent. The thoughts that linger are about caring for your loved ones and protecting what provides for them.
This is the reason why estate planning in Staten Island is an important consideration for any adult. Regardless of your estate’s value, having your wealth sorted gives you peace of mind.
People approach estate planning by setting up a trust or writing a will. Both wills and trusts allow re-titling of their estate into their beneficiaries’ names after the settler passes away.
People use these tools to care and provide for their family when they’re not physically present or capable of e decisions. Along with that sentiment, both trusts and wills have other features that provide specific financial benefits.
If this is your first time coming across estate planning, the concept of a will and revocable trust in Staten Island might go over your head. As a result, making the choice between the two would seem an impossible feat.
The decision does come down to personal preferences and your particular situation. How you want to plan your assets is up to you. However, you must acknowledge that there are certain advantages and disadvantages associated with both.
Similarly, there are certain benefits that give revocable trusts an edge over wills. Understanding what these are can benefit you by clearing up some misconceptions. In the end, the goal is safeguarding your estate so your loved ones don’t struggle after your passing.
Let’s take some of the advantages of a revocable trust in Staten Island has over a will: