Wills & Trusts

Secure Your Wishes. Safeguard Your Legacy.

At Dharma Life & Wealth Advisors, we believe that planning for the future starts with clarity—and that begins with having the right estate planning tools in place. Wills and trusts are the foundation of a well-structured estate plan, ensuring your assets are distributed according to your wishes while minimizing stress and conflict for your loved ones. Whether you're just starting to consider your legacy or looking to refine an existing plan, our team will guide you through the legal and strategic decisions that help preserve what matters most.

Without a clear legal plan in place, your estate could be subject to delays, disputes, and decisions imposed by state law—not your intentions. Wills and trusts allow you to stay in control of what happens to your assets, property, and loved ones after your death.

Together, they help:

• Ensure assets go to the right people
• Minimize or avoid probate
• Offer protection for minor children or beneficiaries
• Preserve privacy
• Reduce potential estate taxes

Let’s break down each tool and how it can serve your unique estate planning goals.

A will is a legal document that outlines your final wishes regarding the distribution of your assets, the care of your minor children, and the execution of your estate.

Key Functions of a Will:

• Asset Distribution : Specify who inherits your money, property, or other belongings.
• Executor Appointment : Name someone you trust to carry out your wishes and manage the legal process after your passing.
• Guardianship for Minor Children : Designate who will care for your children if you pass away before they reach adulthood.
• Charitable Giving or Special Bequests : Leave specific gifts or donations to individuals or organizations that matter to you.
• Provide instructions for alternate scenarios : Provide instructions for alternate scenarios, such as a beneficiary predeceasing you.

What Happens Without a Will?

Dying intestate (without a will) means your estate is distributed based on state laws. This often leads to outcomes that may not align with your personal values or intentions. It can also cause unnecessary legal delays and family disputes.

A trust is a legal arrangement that allows a third party, known as a trustee, to manage assets on behalf of your chosen beneficiaries. Unlike wills, trusts can be used to manage assets both during your lifetime and after your death.

Trusts can help you:

• Avoid probate
• Control when and how assets are distributed
• Protect assets from creditors or lawsuits
• Reduce estate taxes
• Provide for special needs or young beneficiaries over time

1.Revocable Living Trust

A flexible trust that can be changed or revoked during your lifetime.

Use: Allows you to manage your assets now and pass them directly to beneficiaries upon death—without probate.

Benefits: Maintains privacy, simplifies asset transfer, and provides continuity in case of incapacity.

Drawback: Assets remain part of your taxable estate.

2.Irrevocable Trust

A trust that cannot be altered once established.

Use: Removes assets from your estate, providing tax benefits and protection from creditors.

Benefits: Can reduce estate taxes and shield assets in the event of lawsuits or long-term care expenses.

Drawback: You give up control over the assets placed in the trust.

3.Testamentary Trust

A trust created through your will, effective only after your death.

Use: Useful for managing inheritances for children, dependents, or beneficiaries who may not be financially responsible.

Benefits: Offers oversight and control over how assets are used.

Drawback: Does go through probate since it's activated via your will.

4.Specialized Trusts (Optional Add-ons)

We can also help establish:

• Charitable Trusts : Support causes you care about while reducing estate taxes.
• Spendthrift Trusts : Protect beneficiaries from overspending or creditors.
• Generation-Skipping Trusts : Pass wealth directly to grandchildren and reduce multi-generational tax impact.

For many individuals, a combination of both is ideal: a will to name guardians and address final wishes, and a trust to manage and distribute assets more efficiently.

At Dharma Life & Wealth Advisors, we go beyond form templates—we craft personalized strategies designed for your specific needs. Our estate planning support includes:

• Reviewing your current estate structure and family situation
• Recommending the appropriate type(s) of trust and will provisions
• Working in coordination with your estate attorney or helping you find one
• Ensuring all assets are properly titled and funded into your trust
• Offering guidance on updates as your family, financial situation, or state laws change

Creating a will or trust isn’t just a legal step—it’s a personal promise to your loved ones that you’ve thoughtfully planned for their future. At Dharma Life & Wealth Advisors, we help turn that promise into a plan. Whether you’re planning your first will, exploring trust options, or looking to update an outdated estate plan, we’re here to help.

Let us help you protect your family, preserve your assets, and plan for what comes next—with confidence.

Ready to explore your options? Schedule a personalized consultation today .