Trust Attorney Roseville, CA
If you want to establish a trust, you may want to consult a trust attorney in Roseville, CA. A lawyer can provide helpful information about trusts and determine if you would benefit from one or not. Here are some frequently asked questions and answers about trusts.
What Is a Trust?
A trust is an estate planning document that appoints a trustee to hold property for the benefit of others. The document is intended to legally protect the trustor’s assets, ensure the assets are distributed to the appropriate people and save time.
What Are the Benefits of Having a Trust?
There are several benefits to using a trust rather than a well. The main positive that comes from establishing a trust is avoiding probate. Probate is a legal process in which a will is reviewed to determine if it is valid or not. The process can be costly and take a lot of time. Other benefits of a trust include privacy, reduced taxes and flexibility. It is more costly to establish a trust than a will, but the benefits may be worth it.
What Is the Difference Between a Revocable and Irrevocable Trust?
A revocable trust can be changed at any time. An irrevocable trust, on the other hand, can’t be altered once it has been created. Both trusts come with their own positive and negatives. If you are having trouble deciding between the two, you may want to get advice from a trust attorney in Roseville, CA.
Do I Need to Hire an Attorney?
Yes, it is in your best interest to work with an experienced trust attorney. Although there is DIY estate planning software, it is easy to make mistakes if you do not have a legal background. If you do not follow certain procedures, your trust may be considered invalid. An attorney will make sure that your trust states what you want it to state and follow state laws.
Do I Have to Be Wealthy to Benefit from a Trust?
Many years ago, trusts were mostly used by wealthy families to control their fortune. This is not the case today. You do not have to be a millionaire anymore to benefit from a trust. People of modest means can benefit from the versatility of trusts.