Do Not Wait to Contact a Living Trust Attorney in Bloomington CA
If you require the services of a living trust attorney in Bloomington CA, contact Law Offices of Terrence Fantauzzi. We are the perfect firm to call because we have many years of experience, a focus on financial law, and the responsiveness you want in an attorney. Continue reading to learn more, then contact us at (909) 552-1238.
Understanding the Importance of Setting Up a Trust
Trusts can be used to ensure that your property is properly transferred while you are living or after you die. These documents can be a valuable asset in your estate plan because they provide numerous benefits to both you and your beneficiaries. A skilled living trust attorney in Bloomington CA can explain the purpose of trusts and work with you to draft papers that are tailored to your specific needs. Please contact Law Offices of Terrence Fantauzzi if you have any questions.
Discover the Types of Trust That Might Be Available to You
According to the California Probate Code, there are multiple ways to form a trust. A trust can be made through a transfer of property during one’s lifetime to another person as a trustee, a transfer of property upon one’s death to another person as trustee, or a declaration by the owner of a property that the owner possesses the property as a trustee.
No matter how it is formed, a trust will transfer an owner’s property to a trustee, who is responsible for that asset until a specified date. Once that date arrives, the trustee will distribute the property to the named beneficiaries. This is the most fundamental concept of trust. When you engage with a living trust attorney in Bloomington CA, we will go over the legal requirements as well as other details.
Avoiding The Probate Process
The probate process does not apply to trusts or the property they contain. This means that, even when a trust only has legal force following the death of the trust maker, the trust’s beneficiaries do not have to wait for probate to access their assets.
Make Sure You Are Not Paying More Taxes Than You Must – a Living Trust Attorney in Bloomington CA Can Help
Taxes apply when a property is transferred through probate. When a person inherits through a trust, on the other hand, they do not have to pay taxes when they acquire the property. The property in the trust is not subject to taxes for the individual who owns it. It’s a win-win situation for all parties involved.
Are You Ready to Talk to a Living Trust Attorney in Bloomington CA?
Trusts are estate planning options that offer you a greater level of flexibility than traditional wills. Property that moves through a trust does not need to endure the probate process, nor is it subject to taxation.
All you need to create a trust is the name of the property, a trustee you’re ready to nominate, and one beneficiary to receive the property. Other than these requirements, you can use a trust for just about any reason. Contact Law Offices of Terrence Fantauzzi at (909) 552-1238 today for help from a living trust attorney in Bloomington CA.