A will or trust is a way to handle your finances now and distribute your assets after you pass away. But sometimes, you want more say in how or when your beneficiaries will acquire and use your assets. For this, you can include certain clauses in your will or trust. Several clauses are commonly included in wills or trusts.
You have worked hard all your life to earn the money and assets you have today. You can add clauses to your will or trust to financially take care of your loved ones – and make sure they use the money wisely.
Clauses can also help financially care for your loved ones. Perhaps you have a special needs grandchild, a minor child, or want to ensure your spendthrift daughter doesn’t go through all the money right away. For these, you may want to include a specific clause in your will or trust.
Many types of clauses can be used in a will or trust. Here are 5 that we think are important:
It is best to customize a will or trust to your specific situation. This is why working with an experienced estate planning and probate attorney is important. They can help you determine exactly who will receive your assets and ensure they spend your money in the best possible way.
If you have questions about adding clauses to your will or trust, an experienced estate planning lawyer can advise you on the best options for your situation. To talk to a qualified estate planning attorney in Chicago or Oak Brook, contact the Estate & Probate Legal Group at 630-864-5835.
Areas We Serve: Cook, DuPage, Kane, Lake and Will counties.