What is a Living Trust?
A living trust lawyer Sacramento CA residents rely on, from Yee Law Group, can help you plan and prepare for your future and the future of your loved ones through a living trust. A living trust is created while you are alive and is a written agreement designating someone to be responsible for managing your property. A living trust enables the creator of the trust to maintain complete control over the assets placed into the trust. This means they can do what they want with their assets such as selling, exchanging or investing them, as they see fit. A living trust lawyer in Sacramento CA may be able to assist you in creating a living trust.
The Parties in a Living Trust
There are typically three parties that are involved when creating your living trust.
- The Grantor – This is you, the person creating the trust. Normally, they are the only person who provides funding for the trust. However, a living trust lawyer Sacramento CA citizens depend on, may suggest adding more than one person, such as a husband or wife, which would create a joint family trust.
- The Trustee – This individual holds the title to the trust property and manages it according to the terms of the trust. The grantor typically serves as trustee during their lifetime allowing themselves the ability to do what they wish with their assets. Another person is usually named to serve as successor trustee, after the death of the grantor or if the grantor becomes incapacitated.
- The Beneficiary – This would be the person or persons that receive your assets after your passing.
Advantages of a Living Trust
Creating a living trust can offer you several different benefits. A reliable living trust lawyer Sacramento CA citizens can be certain of, may describe the benefits as follow:
- It is a smart way to avoid probate. A living trust lawyer Sacramento CA offers may help keep more money in the family by avoiding court proceedings that could potentially be lengthy and expensive.
- Anything that is written in a living trust is remained confidential. Your personal and financial matters will remain private. The public will not be able to see what you owned, who you owed, or who will inherit your assets.
- If you were to become incapacitated, then your affairs would be handled by your trustee. A Sacramento living trust lawyer may help to avoid court and the trustee will take charge of your finances per your instructions.
Peace of Mind
A living trust allows you to make sure that your property goes to the right people, at the right time and at the least cost. Knowing that you have set in place a proper trust to protect your assets and provide for your loved ones, can help provide peace of mind for yourself and your family. Choose living trust lawyer Sacramento CA residents know that has your best interest at heart and contact Yee Law Group at (916) 927-9001.