Living Trust Lawyer Davis, CA

Safeguard Everything You’ve Worked For With Our Davis, CA Living Trust Lawyer

A robust estate plan can help protect everything you’ve worked so hard for and allow you to provide for your family and heirs after you pass away. A living trust can be a vital part of that estate plan. Many people mistakenly believe a trust is only for the very wealthy, but that’s not the case. A living trust can benefit just about anyone. As a flexible legal document, it can help you avoid probate, reduce estate taxes, and protect your family. Our Davis, CA living trust lawyer can explain how this type of revocable trust can work for you and incorporate it into your existing estate plan or create a new one.

The attorneys at Yee Law Group, PC, monitor changes to California law that could affect your estate taxes and plans for the future. We ensure that your living trust is properly constructed to fulfill your purposes. Please contact us today for a professional legal consultation.

What Is A California Living Trust?

A living trust is a legal document that allows you to manage assets, and distribute money both during your lifetime and after your death. You can benefit from the assets in the trust while you’re alive, and then you can name a successor beneficiary who can also financially benefit from it. It’s a common estate planning tool that helps avoid probate and shields assets from creditors or other seizure.

A living trust is founded by the grantor (you), who places assets in the trust. Now the trust is the legal owner of the assets, although you can still control and benefit from them. When you create the trust, you name a trustee who manages its assets (like making smart investments to grow the value of the trust) and fulfills the instructions for distributing assets in the trust, like paying certain expenses for a child’s education or giving the beneficiary a certain annual income from the trust.

Unlike an irrevocable trust, whose terms are fixed, a living trust can be changed. This can help people who anticipate a change in circumstances or want to retain some control over the trust’s assets.

How A Living Trust Can Benefit You

You can place more than money in a living trust. For example, it is common to place a house in a trust. If you have a family home that you want to pass along to your child but want your current spouse to have somewhere to live after you pass away, you can place the home in trust so that there is no question of ownership and inheritance while still providing for your spouse while they live.

Living trusts help avoid probate and reduce estate taxes, so there is more for your heirs. They also give you more control over who receives assets after you pass away, so you can face the future confidently, knowing you protect the people you love.

As your Davis living trust lawyer, we carefully explain how a living trust can help you achieve your financial and estate planning goals. Please contact Yee Law Group, PC, today for a consultation.