You already have chosen a living trust attorney, El Cajon, and you are going to meet him for the first time to start working for your living trust. But just like any other estate planning work, there are things to prepare before your meeting. This is to make sure that the process will go smoothly.
So, here are some important things that should be readily available when you are meeting your living trust attorney for the first time:
A list of your assets – Sorting out your assets will make things a lot easier for you and your attorney to make an evaluation. Remember that not all types of assets can be put into your trust. So, it is wise to have a list ready ahead of time to make sure that you do not overlook a single one.
Your decision on shared trust vs two individual trusts – You can only put the property you own into the trust. If you are married or in a domestic partnership and much of your property is owned jointly, you will likely want to opt for a shared trust. But you could also draw up two individual trusts. Your living trust attorney, El Cajon, should be able to give you the best advice about this.
Chosen beneficiaries – Your chosen beneficiaries are those who get the trust property after your death. They can be family members, friends, or even the charities or organizations of your choice. Choosing beneficiaries early on will also help draw up a living trust a lot easier.
The chosen successor trustee – This is another consideration that you should work early on because your successor trustee will have an important role in your living trust. He/she is the person who will take charge of paying debts. This person is also the one who will distribute your assets and making sure that your wishes are followed upon your death. The same person will also handle your affairs in case you become incapacitated. Needless to say, this person should be someone you trust completely.
Looking for a reputable living trust attorney, El Cajon? Visit the Law Offices of Ronald R. Webb.
Contact us at (858) 558-1191.