Do Not Wait to Contact a Living Trust Attorney in La Verne CA
If you are in need of a living trust attorney in La Verne 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 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 knowledgeable living trust attorney in La Verne CA could explain more about the purpose of trusts and work to create documents that fit your individual needs. Do not hesitate to reach out to Law Offices of Terrence Fantauzzi to learn more.
Your Attorney Can Help You Set Up the Right Type of 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.
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. Beyond these core concepts, trusts can take on many forms and serve several purposes. An experienced living trust attorney in La Verne 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
One of the biggest advantages to a trust is that the property that is within them is not subject to probate. What does this mean? It means that the beneficiaries of the trust are not required to wait for probate in order to get the assets they inherit.
Avoid Taxes with the Help of a Living Trust Attorney in La Verne 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.
Request a Consultation with a Living Trust Attorney in La Verne 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.
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 La Verne CA.