People work hard over the years for the money that they earn. Often they will invest that money in assets to pass on to their family when they have passed away. The last thing anyone want is for any money or assets they have occurred during their life to end up in probate court. You can prevent your assets going through the court system where a good portion of your estate can eat up in fees depending on how long it takes to settle your estate. One way to do this is by setting up a living trust to distribute your property to your beneficiaries. You can start by searching Sacramento for a trust attorney to assist you in preparing the right documentations.
Reasons a Living Trust can Benefit You
- One of the most important reasons is to make sure that your property goes to particular beneficiaries. Especially, when minor children are involved, you can have the trust set up that any money, real estate, or automobiles you want for them to receive when they reach the age of 18. If you fear they will waste away their inheritance, you can even designate a person to oversee the trust until the person is older such as 25.
- You can reduce or eliminate the taxes that the beneficiary will have to pay.
- If you should become incapacitated and unable to care for your finances anymore, a trust will allow you to set a family member to handle them for you.
- It is harder for a living trust to be contested than it is a will. The person contesting the trust will have to prove that you were incompetent or being influenced at the time the documents were signed.
- If your estate goes to probate and becomes public knowledge. By selecting to have a living trust, it will help protect your privacy.
Find an Experienced Attorney to Help Protect Your Assets
From writing a living trust to estate planning, you want to hire a well-established attorney to assist you with the process. A lawyer has the knowledge and training required to know how to effectively help you protect the assets you want to pass on to your family. They know the current laws that have to be followed and can explain any legal jargon to you in layman’s terms to make sure you fully understand how the living trust works.
