Do You Need a Consultation with a Living Trust Attorney in Rancho Cucamonga CA?
If you are in need of a living trust attorney in Rancho Cucamonga 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.
Learn the Advantages of Having a Trust Set Up
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 Rancho Cucamonga CA, we will go over the purpose of trusts and ensure we are creating the documents that best meet your needs.
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 fundamental notions, trusts can take many different shapes and serve a variety of purposes. More information regarding the legal criteria for setting a trust could be obtained from an expert living trust attorney in Rancho Cucamonga CA.
Avoiding The Probate Process
The probate process does not apply to trusts or the property they contain. This means that, even when a trust only has legal force following the death of the trust maker, the trust’s beneficiaries do not have to wait for probate to access their assets.
Avoid Taxes with the Help of a Living Trust Attorney in Rancho Cucamonga 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.
Are You Ready to Talk to a Living Trust Attorney in Rancho Cucamonga 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.
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 Rancho Cucamonga CA, Contact Law Offices of Terrence Fantauzzi at (909) 552-1238.