Do You Need a Consultation with a Living Trust Attorney in Glendora CA?
If you are in need of a living trust attorney in Glendora 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.
What Are the Benefits 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 work with an experienced living trust attorney in Glendora CA, we will go over the purpose of trusts and ensure we are creating the documents that best meet your needs.
Get the Basic Options for Creating a Trust
A trust can be created in a variety of ways, according to the California Probate Code. A trust can be established through a transfer of property to another person as a trustee during one’s lifetime, a transfer of property to another person as a trustee after one’s death, or a declaration by the owner of a property that the owner has the property as a trustee.
The property of the owner is transferred to a trustee regardless of how the trust is set up. After that, the trustee is in charge of the property until a certain date. When that date arrives, the trustee distributes the property to the beneficiaries who have been named. This is just the most basic definition of trust. When you work with a living trust attorney in Glendora CA, we will go over the legal requirements and other specifics.
Avoiding The Probate Process
One of the most significant benefits of a trust is that the property it holds is not subject to probate. What exactly does this mean? It means that the trust’s beneficiaries won’t have to wait for probate to acquire legal ownership of the assets they’ve inherited.
Avoid Taxes with the Help of a Living Trust Attorney in Glendora 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 Glendora 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 Glendora CA.