The Benefits of Creating a Living Trust

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Living Trust Lawyer Folsom, CA

Many people choose to create a living trust for the many benefits it offers over a simple will. A will is also an important tool, but like any other tool, it is not a full estate planning solution. In this way, our trust lawyer can create a customized and full-featured blend of tools that will fully protect your final wishes and legacy. A living trust is an important component of an estate plan, and when you meet with our trust lawyer, your particular needs will be considered and addressed.

Living Trusts

In essence, in creating a living trust with the assistance of our trust lawyer, you will transfer the ownership of your assets and property to the living trust for the duration of your lifetime. After your passing, it will be a seamless process to transfer those same assets from your trust to your designated beneficiaries. Among the many living trust options available to you, are joint and individual living trusts. If you are single you may wish to choose an individual living trust. If you are married, you and your spouse may benefit from choosing to create a joint living trust. When you sit down with our trust lawyer, you can gain additional clarity with insight from a skilled legal professional.

The Benefits

As mentioned, there are many benefits of having a living trust in place. Your trust lawyer will review your circumstances and estate needs in detail prior to making recommendations to you. In this way, they can provide you with insight into the pros and cons of each option available. Insofar as the benefits of a living trust, here are some of the most common ones:

  • Assets transferred into a living trust can avoid going through the probate process before passing to heirs.
  • While the information contained within a will is a matter of public record, the details of a living trust will remain confidential.
  • Trustors who create a revocable living trust retain control of their assets throughout their lifetime. (Ask our trust lawyer about the differences between a revocable and an irrevocable living trust.)
  • When the trustor passes away, assets within the living trust may not be subject to estate taxes. In advance of creating your living trust, our trust lawyer can provide specific tax information as it pertains to your particular circumstances.
  • In creating a living trust, the trustor can name a trustee or secondary trustee who will make responsible decisions on their behalf should they later become physically or mentally incapacitated.
  • The assets transferred into a living trust can be protected from legal action and creditors. There are certain criteria that must be met and which can be explained by our trust lawyer.
  • A living trust can easily be amended with the help of our trust lawyer.

To learn more about whether or not a living trust is right for you, contact a living trust lawyer Folsom, CA relies on to schedule a consultation.

Contact Yee Law Group, P.C. for their insight into estate planning and the benefits of creating a living trust.

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