Do Not Wait to Contact a Living Trust Attorney in Chino Hills CA
If you require the services of a living trust attorney in Chino Hills 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.
What Are the Benefits 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 Chino Hills 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.
Get the Basic Options for Creating a Trust
California Probate Code allows for several ways to form a trust. It might be done through a transfer of property while the covered party is alive to another person who will act as a trustee. A trust can be set up to come into effect when the owner dies. Or a declaration by the property owner that they hold the property as a trustee.
Regardless of the way the trust is formed, it transfers the owner’s property to a trustee. That trustee is then responsible for the property until a specified date. When that date occurs, the trustee distributes the property to those who are named as beneficiaries. Beyond these fundamental notions, trusts can take many different shapes and serve a variety of purposes. More information regarding the legal criteria for setting a trust could be obtained from an expert living trust attorney in Chino Hills CA.
Setting Up a Trust Helps You Avoid 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 Chino Hills CA Can Help
Another prominent function of trusts is to benefit financially. Property held in a trust is no longer the trust maker’s asset. This may assist those individuals in avoiding paying needless taxes. Similarly, unlike gift taxes that can apply to straight transfers, beneficiaries of trusts do not have to pay taxes when they get the property.
Are You Ready to Talk to a Living Trust Attorney in Chino Hills CA?
Trusts are a type of estate planning tool that provides more flexibility than standard wills. Property that passes through a trust does not have to go through the probate process and is not taxed.
Creating a trust requires the naming of property, the nomination of a trustee, and the identification of at least one beneficiary. Beyond this, a trust can serve almost any purpose that you can imagine. A living trust attorney in Chino Hills CA can help you get this set up. Contact Law Offices of Terrence Fantauzzi at (909) 552-1238 to get started.