Living Trust Lawyer
Few people look forward to planning their estate or living trust, but it is something that most people and their beneficiaries ultimately benefit from.
Even though the thought of planning your estate may be daunting, doing this with the help of an estate planning and trust administration lawyer in Sacramento, CA may take a lot of the stress and anxiety this is making you feel, off of your plate. Not only will this likely make you feel less alone, it can give you peace of mind knowing that your wishes for what happens to your assets after you pass, are legally bound.
If you do not have an estate planned with a properly executed will, it may be in your best interest to contact an estate planning lawyer.
Aren’t estates places that rich people live?
Estates can be places where rich people live but typically when talking about estate planning, an estate is all the money and property owned by a particular person, as well as their debts, especially at death.
Isn’t estate planning just for rich people?
Estate planning is not just for rich people. Estate planning is for people of all levels of wealth, from people who barely scrape by financially, to people who have a surplus of income and savings.
It is important to plan your estate even if you do not own a lot of things or have any money in savings. Planning your estate is a way to ensure that your wishes for the distribution of your assets will be complied with when you are no longer here to supervise this.
Do I need a lawyer to come up with an estate plan?
There is no law that says you need to have an estate planning and trust administration lawyer in Sacramento, CA to come up with an estate plan for you but many people recommend that you consult with one when you do this. An estate planning lawyer’s role includes guiding you through the creation of the estate planning documents you need, creation of a health care proxy, and selecting and durable power of attorney. Many estate planning lawyers work in conjunction with tax advisors, to help minimize estate taxes and other costs that may be avoidable.
Can I use an online estate planning service to save money compared to what it costs to hire a lawyer?
Beware of online services that offer to do things like plan your estate, for much less money than what is typically charged to do this. Many of these services do not have actual lawyers doing what you are paying them to do. While these services may be legal, they may not have knowledgeable enough people doing the work they say they can do for you. It can be more beneficial to your planning to have someone who is licensed and experienced with successfully helping their clients to create a sound estate plan that maximizes benefits to your beneficiaries.
Do I need a living trust?
One of the most important things you can do on behalf of your family is to make your final wishes clear with the assistance of a living trust lawyer in Sacramento CA. At Yee Law Group we help individuals do this through the use of one or more estate planning tools. Merely having a will does not ensure your family will be taken care of after your passing. Even a will that is created with the best of intentions will likely end up being reviewed by a judge in probate court. Probate court can be frustrating, costly, and take up to a year. With the assistance of a living trust lawyer in Sacramento CA from our firm you can make sure your beneficiaries can avoid probate. A well planned trust is an effective way to do this.
Creating a Living Trust
When you contact Yee Law Group in Sacramento CA, our living trust lawyer will sit down with you and review your estate planning needs. If a living trust is a good fit for you, you will be guided through the process of creating one that will include everything you need in a trust.
Our firm’s commitment to the process of creating a trust and other components of estate planning reflect our extensive knowledge and skill. The process of getting your affairs in order can be overwhelming, complicated and quite emotional. There are many things to consider. Although this is not a complete list, below are just some of the questions that our living trust lawyer from Yee Law Group in Sacramento CA can answer for you:
- Do I need a will if I have a trust?
- Where do I start when drafting a will?
- Can I change and update my wishes as things in my life change?
- What are considered assets and how do I put a value on them?
- How will my debts be paid after I am deceased?
- Who can I name as my beneficiaries?
- Can I leave an inheritance to a minor?
- Who should I choose for a trustee?
- Will my heirs have to pay taxes on what they inherit?
You Can Count on Yee Law Group
One of the benefits of developing a trust is that the process itself helps you to get things in order. You can trust that our living trust lawyer in Sacramento CA from Yee Law Group will be diligent in getting accurate information regarding your assets. We can help you identify the best person to act as your trustee and fulfill their duty to honor your last wishes.
Leaving an Inheritance to Your Grandchildren
If you wish to leave money or valuables to your grandchildren, a trust can ensure that they are taken care of in the manner of your choosing. One of the benefits of creating a trust is that you have control over setting the terms. For instance, you can decide if your grandchildren take possession of their inheritances immediately, only after they reach a certain age, or in payments spread out over time. Contact our living trust lawyer in Sacramento CA from Yee Law Group today so that you can learn more about how we can provide you peace of mind.
Trust Administration Lawyer
Trust administration can be straightforward or very complex, which is why you should consider a lawyer to help you out and make sure it’s done right. Trusts are meant to act as legal documentation for anyone who wishes to pass on assets to named beneficiaries. When done properly, trust administration can prevent probate court and remain a completely private matter.
Turning to Yee Law Group, PC for Counsel on Trusts
While you are in good health, you are likely the trustee of your own living trust. However, your trust should have a successor(s) to act as a trustee upon your death or incapacitation. This trustee will then be responsible for distributing your assets pursuant to the terms laid out in the trust, as well as maintaining associated bills, taxes, and other expenditures.
Choosing the right trustee can be a difficult process, especially when a significant amount of assets is involved. Yee Law Group, PC may help you to make an informed decision about who may be the most suitable choice to act as a successor, ultimately giving you peace of mind in knowing your assets will be adequately preserved.
Maintaining Trust Administration
Many people, including trust successors, don’t fully understand their responsibilities associated following the death or incapacitation of a loved one. Although probate could be avoided, legal documents must be drawn, taxes need to be filed, and other administration procedures should take place. The successor is bound by fiduciary duties to maintain the trust; however, without the necessary skills, knowledge, or time, this may be troublesome.
Overall Benefits of Trusts
Having a trust as part of your estate plan can be highly beneficial. A trust might preserve your financial wealth and physical assets, as well as:
- Save you money in the future by avoiding probate
- Protect you from long, drawn out disputes
- Remain private, and leave no public court record.
- Ward off hefty estate taxes by taking advantage of special laws
- Prevent confusion or hurdles from arising immediately following the trustee’s’ death
Contact a Dependable Law Firm Today
At Yee Law Group, PC , we are committed to providing legal advice to anyone interested in knowing the ins and outs of trusts. When we work together, we aim to help clients explore their options on how best to protect their total assets. Staffed with skillful lawyers, it is our mission to make the trust planning and administration process as smooth as possible, thereby minimizing the risk for complications to arise.
To discuss your questions and concerns about trust administration, disputes, or other matters, please contact Yee Law Group, PC. We will be happy to meet with you during a free consultation in which we’ll explain your individual options. To schedule an appointment with a living trust lawyer Sacramento counts on, call today.
“Just had our living trust done with yee law group. Mike yee and his team made the whole process so easy. Highly recommend!”