Do Not Wait to Contact a Living Trust Attorney in Fontana CA
You need a living trust attorney in Fontana CA who has the experience to give you with the best service possible. You require a responsive attorney who specializes in financial law and will give your case the attention it deserves. You’ll need to contact Law Offices of Terrence Fantauzzi at (909) 552-1238.
Understanding the Importance of Setting Up a Trust
Just why is a trust so important? Because it sets up the transfer of property while you are alive or after your death. Trusts are an essential part of your estate plan and there are many benefits to you and your heirs. When you engage with an experienced living trust attorney in Fontana 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 core concepts, trusts can take on many forms and serve several purposes. An experienced living trust attorney in Fontana CA could provide more information about the legal requirements for creating a trust.
The Probate Process is Not a Necessity – Learn How a Living Trust Can Help
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 Fontana CA
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.
Reach Out to a Living Trust Attorney in Fontana CA Today
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.
To set up a trust, all you need is the property’s name, a trustee you’re willing to name, and one beneficiary to receive the property. Apart from these requirements, a trust can be used for almost any purpose. For assistance from a living trust attorney in Fontana CA, Contact Law Offices of Terrence Fantauzzi at (909) 552-1238.