Do You Need a Trust?

Yee Law Group Inc. > Do You Need a Trust?

Sacramento Trust Lawyer

You’re here because you want to understand what a trust is and if consulting with a trust lawyer could be the next and right step for you. 

A trust is a fiduciary relationship in which one party, known as a grantor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. A trust can establish legal protection for the grantor’s assets. It ensures that those assets will be distributed according to the wishes of the grantor.  

Creating a trust can be an extremely important and beneficial tool when someone is planning their estate. A trust tends to avoid probate which means that your beneficiaries can gain access to your assets more quickly than if they were transferred using a will. 

Assets in a trust can be passed outside of probate meaning that it has the chance to save time and court fees. Establishing a trust could become one of the best decisions of your life and put your loved ones’ minds at ease during an already difficult circumstance. Additionally, if you pursue an irrevocable trust that could mean that it might not be considered part of the taxable estate. This would mean fewer taxes due upon your death, which could become a sigh of relief for your beneficiaries.

No one wants to think about life after they’re gone, but sometimes, that is the reality of life. 

You work hard throughout your life to create a happy and secure life for yourself and your family, you should want to make sure that everything will be taken care of when you are not around anymore. 

You don’t need a lawyer to create a trust, however, it could become one of the smartest decisions you’ve ever made. A trust lawyer has the knowledge and experience with working cases involving trust and estate planning. 

A lawyer will understand state and federal laws so that there won’t be any second-guessing when the time comes to distribute your assets. And if something does arise they will understand what your wishes are and how to help your loved ones resolve any issues that could come up after your death.

Trusts are intended to protect assets and direct those assets into the right hands whether that be in the present, future, or at a certain point in time that might even be far after the original asset owner’s death. A trust is backed by laws and it’s one way to ensure that your wishes will be followed out. 

While this is just a brief glimpse at what a trust is and how it could be helpful to you, there’s quite a lot to untangle when it comes to trusts and what type of trust might be good for you and your unique situation. That’s why reaching out to a professional like a trust lawyer who will understand your goals and how to fulfill them could be extremely beneficial to your life. Not to mention, give you a sense of ease.

That’s why consulting with a professional like a Sacramento trust lawyer from a law firm like Yee Law Group, P.C. can help you with the process and understanding more about trusts.

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