Find Out How You Can Get Help from a Living Trust Attorney in Los Angeles CA
If you require the services of a living trust attorney in Los Angeles 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.
Learn the Advantages of Having a Trust Set Up
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. When you engage with an experienced living trust attorney in Los Angeles CA, we’ll go over the purpose of trusts and make sure we’re preparing the right agreements for you.
Your Attorney Can Help You Set Up the Right Type of Trust
The California Probate Code permits you to create a trust in a variety of ways. It could be accomplished by transferring property to another individual who will act as a trustee while the covered party is still alive. A trust can be established to take effect after the owner passes away. Alternatively, a declaration by the property owner that they are acting as a trustee for the property.
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. This is the most fundamental concept of trust. When you engage with a living trust attorney in Los Angeles CA, we will go over the legal requirements as well as other details.
A Properly Set Up Trust Allows You to Avoid the Probate Process
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.
Make Sure You Are Not Paying More Taxes Than You Must – a Living Trust Attorney in Los Angeles 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.
Request a Consultation with a Living Trust Attorney in Los Angeles CA
A trust is one example of an estate planning tool that gives you flexibility, especially compared to a standard will. Property that goes through a trust doesn’t have to go through probate and generally is not taxable.
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 Los Angeles CA can assist you with this. To get started, Contact Law Offices of Terrence Fantauzzi at (909) 552-1238.