When you hire a living trust lawyer Sacramento CA offers, you may be able to save on taxes or arrange the proper management of property over a long term period. A living trust may also be specifically designed so that financial privacy is guarded, and probate is avoided when the individual dies or becomes incapacitated.
Hiring a Living Trust Lawyer in Sacramento CA
To create a living trust, you have two options: you can choose to organize one on your own, or you can hire the legal assistance of a Sacramento CA living trust lawyer. The Law Offices of Yee Law Group, PC, PC works alongside our clients to ensure all of their assets are meticulously organized in such a way that future disputes should not arise.
The Basics of a Living Trust
The creation of a living trust is similar to a last will and testament. Included should be basic information such as:
- The creator of the trust (i.e. you, if it is your trust)
- The trustee or person in charge of managing the trust
- The trustee who will overtake the trust management and its distribution when the original trustee dies or becomes incapacitated
- The beneficiaries or people who will gain the property and assets of the trust
- The trustees who will manage any property or assets left to minor beneficiaries
When you create a living trust with the aforementioned information, you could avoid costly expenditures and lengthy processing times that may be associated with probate. More importantly, if an estate’s assets are in probate, there is a possibility that they will be frozen during the court proceedings and financial organization. Preparing a living trust with a skilled living trust lawyer Sacramento respects can help you avoid this.
The Primary Benefits of Having a Living Trust Over a Will
Around 20% of Americans have a living trust. The primary difference between a trust and a will is that in the case of a will, your estate is required to go through the probate process; whereas, a living trust avoids this. A living trust is not made public, so upon your death your estate will be allocated to beneficiaries in private. A will, on the other hand, is public record; thus all transactions are also made public. Beyond these primary benefits, a living trust is written in such a way that your trustee can take over your estate, should become incapacitated and unable to maintain your assets and property. A will, without power of attorney, requires the court to appoint someone to maintain financial affairs, and report back to them, throughout your incapacitation.
When You Should Work with Living Trust Lawyer Sacramento CA Respects
Should you have complex estate planning needs, you may want to hire a Sacramento CA living trust lawyer to prepare the legally binding documents. If you’re unsure of the complexities of your estate plan, the following are some examples that may be better handled by an experienced law firm:
- Skipping of generations
- Special conditions to beneficiaries
- Beneficiaries with special needs or who are receiving government assistance
- High dollar life insurance policies
- Large cumulative value of the estate
Yee Law Group, PC, PC., A Living Trust Lawyer Sacramento CA Residents Can Count On
Although you can prepare a living trust on your own, it’s generally not advisable due to specific complexities the legal documents must include. Without these details, your living trust could be deemed null and void by the court. Our lawyers are well versed in the laws surrounding living trusts. Through a meticulous review of your assets, we may help to effectively plan your estate, giving you total peace of mind. For a free consultation with a living trust lawyer Sacramento CA has to offer, call (916) 599-7297.