Contact an Experienced Living Trust Attorney in San Bernardino CA Today
When you need a living trust attorney in San Bernardino 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.
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. A skilled living trust attorney in San Bernardino 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.
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 San Bernardino CA, we will go over the legal requirements as well as other details.
Avoiding 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 San Bernardino 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.
Now is the Time to Reach Out to a Living Trust Attorney in San Bernardino 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.
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 San Bernardino CA.