Find Out How You Can Get Help from a Living Trust Attorney in San Dimas CA
When you need a living trust attorney in San Dimas 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 knowledgeable living trust attorney in San Dimas 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.
Learn the Basics of Creating a 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.
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. 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 San Dimas CA.
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.
Learn How a Living Trust Attorney in San Dimas CA Can Offer Financial Advantages
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.
Request a Consultation with a Living Trust Attorney in San Dimas 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 San Dimas CA, Contact Law Offices of Terrence Fantauzzi at (909) 552-1238.