Understanding Wills and Trusts

Find clarity and confidence in life’s most important decisions. 

Estate planning is not just about documents. It is about peace of mind. A thoughtful plan helps ensure your wishes are honored, your assets are distributed properly, and your loved ones are supported when it matters most. 

A will outlines how assets are distributed after death and allows you to name guardians for minor children. Wills go through probate, a legal process that can take time and becomes part of the public record. While essential, a will alone may not address every planning need. 

A trust can take effect during your lifetime, allowing assets to transfer privately and efficiently without probate. Trusts offer added flexibility, control, and protection, especially in complex family situations, for charitable goals, or for long-term care considerations. Many individuals benefit from having both a will and a trust working together. 

Getting organized is an important first step. Taking inventory of assets, reviewing beneficiary designations, and identifying trusted decision-makers help ensure your plan reflects your current life and priorities. It is also important to revisit your plan after major life events such as marriage, divorce, the birth of a child, or the loss of a loved one. 

Choosing the right trustee or personal representative is one of the most critical decisions you will make. While family members may seem like a natural choice, the role can be time-consuming and emotionally challenging. A corporate trustee provides professional oversight, continuity, and impartial administration, helping reduce conflict and ensure your wishes are carried out as intended. 

The Trust and Investment Management team at Croghan works closely with you and your legal advisors to create a plan that fits your life today and adapts as your needs change. Whether you are just beginning or reviewing an existing plan, our experts are here to help you move forward with confidence.