Find Out How You Can Get Help from a Living Trust Attorney in Ontario CA
You need a living trust attorney in Ontario 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.
What Are the Benefits of Setting Up a Trust?
Why is it so crucial to have a trust? Because it allows you to transfer property while you are still living or after you pass away. Trusts are an important aspect of your estate plan, and they have numerous advantages for both you and your heirs. A knowledgeable living trust attorney in Ontario 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. This is the most fundamental concept of trust. When you engage with a living trust attorney in Ontario 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 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 Ontario CA
Another common use for trusts is to gain financial advantages. Property that sits in a trust is no longer an asset of the trust maker. This can help those people to avoid paying unnecessary taxes. Similarly, beneficiaries of trusts do not need to pay taxes when they receive the property, as opposed to the gift taxes that can apply to straight transfers.
Are You Ready to Talk to a Living Trust Attorney in Ontario 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.
Creating a trust requires the naming of property, the nomination of a trustee, and the identification of at least one beneficiary. Beyond this, a trust can serve almost any purpose that you can imagine. A living trust attorney in Ontario CA can help you get this set up. Contact Law Offices of Terrence Fantauzzi at (909) 552-1238 to get started.