Do Not Wait to Contact a Living Trust Attorney in Riverside CA
If you are in need of a living trust attorney in Riverside 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.
Understanding the Importance of Setting Up a Trust
Trusts can be used to ensure the proper transfer of property while you are alive or after you pass away. These types of documents can be a powerful tool in your estate plan, as they come with many benefits for both you and your beneficiaries. When you engage with an experienced living trust attorney in Riverside CA, we’ll go over the purpose of trusts and make sure we’re preparing the right agreements for you.
Discover the Types of Trust That Might Be Available to You
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.
No matter how it is formed, a trust will transfer an owner’s property to a trustee, who is responsible for that asset until a specified date. Once that date arrives, the trustee will distribute the property to the named beneficiaries. This is just the most basic definition of trust. When you work with a living trust attorney in Riverside CA, we will go over the legal requirements and other specifics.
Avoiding 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.
Make Sure You Are Not Paying More Taxes Than You Must – a Living Trust Attorney in Riverside CA Can Help
Taxes apply when a property is transferred through probate. When a person inherits through a trust, on the other hand, they do not have to pay taxes when they acquire the property. The property in the trust is not subject to taxes for the individual who owns it. It’s a win-win situation for all parties involved.
Are You Ready to Talk to a Living Trust Attorney in Riverside 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.
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 Riverside CA.