California Trust Attorney

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You probably already know that you need an estate plan. Whether you’re reading this because you’re starting from scratch to create your foundational plan for the very first time or need to review and revise your existing documentation, a California trust attorney can help you make sure you’re setting up your future plans with a thorough approach.

What Is a Trust?

To put it simply, a trust is a kind of legal relationship in which one party (known as the trustor or grantor) gives legal ownership over an asset (property, money, etc.) to another party (known as the trustee). The trustee uses these rights to manage the asset on the behalf of a third party (known as a beneficiary).

A trust allows you to keep your assets in a safe space until the conditions under which you’d like them to be used come into existence.

Reasons for a Trust

There are lots of reasons that your estate planning should include a trust as one of the tools you use to ensure that your assets are managed in the way you wish after you have passed. The following are some of the most common reasons:

  • Protecting and competently managing assets for an underage beneficiary until they are old enough to do so themselves
  • Keeping assets safe from probate
  • Maintaining privacy for family assets and how they are distributed
  • Ensuring a clear and efficient line of succession for business-related assets
  • Managing asset distribution in a way that allows a spouse or dependent access to needs-based, means-tested public programs
  • Creating a clear plan for long-term stability for a disabled dependent during special needs planning

Benefits of Trust-Based Estate Planning

When you have entered into an agreement for trust administration, you can rest assured that your assets will be managed to your specifications. Trust-based estate planning takes the guesswork out of what will happen upon your incapacitation or death, giving you peace of mind and clarity. Through a carefully managed trust, your assets can even grow, giving your beneficiaries an increased benefit in the future.

Above all, the benefit of trust-based estate planning is clear control that eliminates many of the frustrations and confusions that can happen when a person dies without a clear plan for their estate.

What Does a California Trust Attorney Do?

You may be wondering if you need an estate planning lawyer in order to set up a trust. For a simple trust, you do not necessarily need a lawyer, but many people find the process of setting up a trust on their own to be confusing and overwhelming. There are many different kinds of trusts, and each one comes with its own set of pros and cons that may or may not be right for your specific situation.

If you do use an attorney for trust-based estate planning, you’ll get the added security of knowing that you’ve carefully considered each potential arrangement and chosen the one that best fits your intentions and goals. You can also make sure that any unusual details or complexities of your particular estate are accurately accounted for in the plan.

When Should You Contact a California Trust Attorney?

It’s never too soon to start estate planning. Unfortunately, the future is never completely predictable, and those who die or become incapacitated before creating an estate plan will have little say over how their assets are managed. Some worry that an estate plan they make now might not be sufficient in the future, but the plans you put into place now can be amended and adjusted for any future changes to your estate.

Get in touch with a California trust attorney as soon as you are considering setting up a trust for your estate plans. This will give you the most time to ask questions and get the answers you need to make informed decisions. You can ask any questions you have now by calling for a free consultation.

How Can a Trust Attorney Help You?

A trust attorney can make the process of setting up a trust, considering who should manage it, and ultimately getting your estate plan in order easier, more efficient, and less time-consuming.

    Frequently Asked Questions

    Does everyone need a trust?

    No. A trust will not be the best estate planning tool for every situation, but it’s not always easy to tell if you need a trust or not until you’ve had a thorough assessment of your individual situation. The misconception that trusts are only for the very wealthy can keep those who would benefit from using a trust from considering this tool, and speaking with a trust attorney about your specific situation can offer clarity.

    Who determines how to invest assets in a trust?

    The person you have named as the trustee will determine how to manage the assets in the trust, including future investment decisions. However, many trustors set up a professional investment manager to work alongside the trustee in order to ensure prudent asset management.

    Does the trustee have to be someone I know?

    Many people will name a family member as the trustee of their account, but it is not necessary. There are professional trust companies that are designed specifically to fill this role. If naming a particular family member is likely to cause emotional distress and arguments or if there are no good candidates for the task, choosing a professional to fill the role can be the best decision.

     

    We are here to help you

    Do you need assistance getting your Trust completed? We know it can be confusing and intimidating to start, don’t stress. We can help you get a plan in place and make sure your wishes are legally documented and that your family is protected, giving you peace-of-mind. To get started, call our office at (805) 518-9633, click below to schedule an appointment, or complete the form below and one of our team members will be in contact with you. We will help you determine whether a trust makes sense for your situation. You do not have to make these decisions alone.

    Please complete this form and one of our team members will get in touch with you

    Contact Us

    Locations

    4476 Market Street, Suite 602
    Ventura, CA 93003
    (805) 518-9633

    2829 Townsgate Road, Suite 100
    Westlake Village, CA 91361
    (805) 518-9633

    28338 Constellation Road, Suite 900
    Santa Clarita, CA 91355
    (661) 669-8472

    1055 E. Colorado Blvd., Suite 500
    Pasadena, CA 91106
    (626) 709-2847

    15615 Alton Parkway, Suite 450
    Irvine, CA 92618
    (949) 676-6016

    26565 West Agoura Rd., Suite 200
    Calabasas, CA 91302
     (818) 626-3543

    Serving clients throughout California Virtually 

    Disclaimer: The attorneys at Hermance Law, A Professional Corporation, are licensed to practice law solely in California and meets with clients by appointment only. Nothing in this website should be taken as engaging, or offering to engage, in any activities in any jurisdiction where those activities would constitute the unauthorized practice of law or would otherwise be unlawful or improper. The materials appearing on this Website are provided for informational purposes only and do not constitute legal advice. You should not take action based upon this information without consulting legal counsel. This site is not intended to create an attorney-client relationship. The hiring of a lawyer is an important decision that should not be based solely upon any single source of information, including advertising on this Website.

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