Do Not Wait to Contact a Living Trust Attorney in Rialto CA
When you need a living trust attorney in Rialto CA, you need an attorney who has the experience to provide you the best possible service. You need an attorney who is responsive, who specializes in financial law, and who will give your case the priority it deserves. You need Law Offices of Terrence Fantauzzi 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. A skilled living trust attorney in Rialto CA can explain the purpose of trusts and work with you to draft papers that are tailored to your specific needs. Please contact Law Offices of Terrence Fantauzzi if you have any questions.
Learn the Basics of Creating a Trust
According to the California Probate Code, there are multiple ways to form a trust. A trust can be made through a transfer of property during one’s lifetime to another person as a trustee, a transfer of property upon one’s death to another person as trustee, or a declaration by the owner of a property that the owner possesses the property as a trustee.
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. 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 Rialto 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.
Make Sure You Are Not Paying More Taxes Than You Must – a Living Trust Attorney in Rialto CA Can Help
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 Rialto 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 Rialto CA can assist you with this. To get started, Contact Law Offices of Terrence Fantauzzi at (909) 552-1238.