Do Not Wait to Contact a Living Trust Attorney in Covina CA
You need a living trust attorney in Covina 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.
Learn the Advantages of Having a Trust Set Up
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 Covina 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
A trust can be created in a variety of ways, according to the California Probate Code. A trust can be established through a transfer of property to another person as a trustee during one’s lifetime, a transfer of property to another person as a trustee after one’s death, or a declaration by the owner of a property that the owner has the property as a trustee.
A trust will transfer an owner’s property to a trustee, who will be accountable for that asset until a defined date, regardless of how it is created. The trustee will transfer the property to the listed beneficiaries once that date arrives. 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 Covina CA.
The Probate Process is Not a Necessity – Learn How a Living Trust Can Help
Trusts and the property within them are not subject to the probate process. This means that even if a trust only carries a legal effect upon a trust maker’s death, the beneficiaries of that trust do not need to wait for probate to conclude to receive their assets.
Learn How a Living Trust Attorney in Covina 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.
Are You Ready to Talk to a Living Trust Attorney in Covina CA?
Trusts are estate planning options that offer you a greater level of flexibility than traditional wills. Property that moves through a trust does not need to endure the probate process, nor is it subject to taxation.
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 Covina CA.