Trusts vs. Wills

Yee Law Group Inc. > Trusts vs. Wills

Trust Attorney Sacramento CA

Trust and wills have the same function essentially, which is passing a property for your heirs after your death. However, the differences in how the two documents operated should be carefully considered before choosing between them. You should talk to your trust attorney in Sacramento, CA, such as the ones available at Yee Law Group before making a decision. A trust attorney is going to be able to help you make a decision that’s going to best benefit you and your financial situation.

A trust offers several advantages over a will, such as enabling your heirs to avoid probate where wills must go through probate. The probate process is the transfer of ownership of your assets to the designated people in your will, via a court transfer. So essentially a probate court would supervise the sale of your home and then they would supervise how the proceeds are distributed and ensure that the proceeds are distributed in the will’s stated preference of beneficiary and designatory.

If you establish a trust you have to first create and then designate your assets to go into the trust, such as retirement accounts, bank accounts, homes, life insurance, and cars, to name a few. All of this will be transferred into a trust after you die, alternatively you can transfer these assets while you are living to make it easier to manage the assets in case you become disabled or incapacitated and unable to care for yourself. However, after your diet either way, the trustee that you have chosen will gather the assets and distribute them to the beneficiaries that you name. There is no waiting period involved in trust administration, which means that your beneficiaries can access the money much quicker than if it goes to probate court.

A trust attorney is going to be able to help you establish a trust if you want one, and even if you just have questions about a trust or trust attorney is going to be able to help you answer those. I trust gives you more control over the distribution of your assets in a will, because with the will of the person that inherits the property is a minor the probate court has to name a conservator to manage that money until the minor reaches the age of 18. 

Furthermore probate court is going to supervise all distribution of money for the minor’s health, education, maintenance and support of their living expenses, school tuition and even orthodontic care until the minor is of age. But with the trust you can appoint a trustee who will make all of the spending decisions for that minor according to your wishes, and you can even specify the age at which the beneficiary can take control of their inheritance even if they are a minor.

We got to a trust attorney in Sacramento, CA today for all of your trust questions.