Do Not Wait to Contact a Living Trust Attorney in Upland CA
You need a living trust attorney in Upland CA who has the experience to give you with the best service possible. You require a responsive attorney who specializes in financial law and will give your case the attention it deserves. You’ll need to contact Law Offices of Terrence Fantauzzi at (909) 552-1238.
Understanding the Importance 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 knowledgeable living trust attorney in Upland 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.
Get the Basic Options for 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.
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 core concepts, trusts can take on many forms and serve several purposes. An experienced living trust attorney in Upland CA could provide more information about the legal requirements for creating a trust.
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.
Ask a Living Trust Attorney in Upland CA How a Living Trust Can Help Avoid Taxes
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.
Now is the Time to Reach Out to a Living Trust Attorney in Upland 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.
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 Upland CA can assist you with this. To get started, Contact Law Offices of Terrence Fantauzzi at (909) 552-1238