Do You Need a Consultation with a Living Trust Attorney in Claremont CA?
If you are in need of a living trust attorney in Claremont CA then you are in need of Law Offices of Terrence Fantauzzi. With many years of experience, a focus on finances, and the responsiveness you deserve in an attorney, we are the right firm to call. Keep reading to learn more and then reach out at (909) 552-1238.
Why Do I Need to Set Up a Trust?
Trusts can be used to ensure the proper transfer of property while you are alive or after you pass away. These types of documents can be a powerful tool in your estate plan, as they come with many benefits for both you and your beneficiaries. When you engage with an experienced living trust attorney in Claremont CA, we’ll go over the purpose of trusts and make sure we’re preparing the right agreements for you.
Discover the Types of Trust That Might Be Available to You
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 Claremont CA.
A Properly Set Up Trust Allows You to Avoid the Probate Process
Trusts and the property within them are not subject to the probate process. This means that even if a trust only carries a legal effect upon a trust maker’s death, the beneficiaries of that trust do not need to wait for probate to conclude to receive their assets.
Avoid Taxes with the Help of a Living Trust Attorney in Claremont CA
When a property is transferred via probate, it is subject to taxes. On the other hand, when a person inherits through a trust, they do not pay taxes when they receive the property. For the person who owns the trust, the property that is in it is not subject to taxes. It’s a win-win for everyone involved.
Now is the Time to Reach Out to a Living Trust Attorney in Claremont CA
A trust is an example of an estate planning vehicle that provides you with more flexibility than a normal will. Property held in a trust does not have to go through probate and is often tax-free.
The naming of property, the appointment of a trustee, and the identification of at least one beneficiary are all required steps in the creation of a trust. A trust can also be used for nearly any other reason you can think of. A living trust attorney in Claremont CA can assist you with this. To get started, Contact Law Offices of Terrence Fantauzzi at (909) 552-1238.