While it’s true that a living trust can be prepared either with or without the help of an attorney, San Clemente, there are a number of benefits of the latter that compel many to avail of their services.
A living trust attorney, San Clemente, helps ensure that…
You avoid probate costs. The truth is, the probate process for an estate can be very expensive when it comes to probate costs, fees, and attorney charges. If your assets are put in a revocable living trust, you can avoid many of these costs.
Your beneficiaries are in the right order. In California, for example, the order follows this: spouse, dependents, parents, siblings, nieces/nephews, grandparents, aunts/uncles and cousins (unless you modify the seniority of the beneficiaries).
You are provided with the privacy you need. How can you keep your affair away from public eye? Through a living trust. Much of the estate probate process is put in the public record. A living trust is private; assets need not be published.
Everything is in order in case of incapacity. As opposed to a will, which is only effective after your death, you can make use of your trust to take control of your assets when you are still living – even if you no longer have the capacity to control the assets yourself.
You get protection from creditors. Depending on the type of trust, it can protect assets from creditors, unsuccessful marriage, or from those who might influence your beneficiaries.
You control distributions assets for specific goals. A living trust can be designed to allow distributions for specific purposes. For example, you might want to allocate some amount for college tuition or health care expenses.
You control distributions at specific ages. A trust can also be tailored in such a way that it allows you to hold assets while your intended beneficiary is still a minor or a young adult, and then distribute all or a portion of the assets once the beneficiary reaches a particular age.
Want to start crafting your trust? Talk to an expert living trust attorney, San Clemente, today.
Call us at (858) 558-1191.