Living Trust Attorney Roseville, CA
Living Trust Attorney Roseville, CA 
What You Should Know About Funding a Living Trust
Although trusts are growing in usage and popularity, some people might still encounter obstacles during the creation of one. For example, it is possible for financial institutions to make it difficult to fund a trust. Although not all that common, it can benefit you to understand why these kinds of obstacles might arise. Bear in mind, when you have an experienced living trust attorney in Roseville, CA on your side, the chances of these obstacles presenting themselves are reduced.
Obstacles Involved in Funding a Trust
As a trust attorney Roseville, CA residents have counted on for years, we know of a few obstacles that some people will encounter at the time of funding a trust. These include:
Further Information is Needed – When it comes to planning an estate, many legal documents and forms will need to be completed and filed. If the financial institution is not provided with the correct documentation, you might find it difficult to fund the trust.
Wrong Titleling – There are some scenarios in which a financial institution would be unable to title their account in a way that you have requested. For instance, an IRA cannot be titled as the name of your trust.
Miscommunication – It is certainly possible that the financial institution won’t have understood your needs or requests. When this happens, you should try explaining it in a different way, or ask your living trust attorney in Roseville, CA to explain it to the bank on your behalf.
The Bank Does Not Understand Trusts – Today there are many different kinds of banks, and some of these are smaller or only exist online. Although rare, there are some cases in which a bank has completely declined to allow the funding of a trust. If this should happen to you, it may be worth your time to consult a living trust attorney in Roseville, CA to explore your other options.
Advantages of a Trust
As you might see one of the greatest challenges that could arise, but usually does not, during the creation of a trust has to due with funding it. There are also some distinct advantages of creating a trust which are worth knowing about:
Assets Can Be Controlled – If a person is incapacitated, for instance through an illness, a truste can ensure assets remain available to them. The trust can also discuss how assets are to be distributed after the person’s death.
Trusts Can Protect Your Legacy – A properly drafted trust can protect your legacy for your future heirs. It can also prevent creditors from attempting to collect your assets to pay off various debts.
The Estate Avoids Probate – Assets that are not included in a trust will need to pass through the probate process. Those that are included in the trust can skip probate and be distributed immediately to your heirs.
Save on Taxes – As a living trust attorney in Roseville, CA might advise you, there are various tax advantages that are available through a trust. You may be able to gift assets to a loved one through a trust, and to avoid tax repercussions.
Call A Roseville, California Living Trust Attorney from Yee Law Group Inc.
Creating a trust can be very beneficial despite some of the challenges that might present themselves. If you would like to learn more about the benefits of a trust, call a living trust attorney in Roseville, CA for free consultation.