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Ventura Trust Attorney

Trust Attorney in Ventura, CA

You probably already know that you need an estate plan. Whether youโ€™re reading this because youโ€™re starting from scratch to create your foundational plan for the very first time or need to review and revise your existing documentation, a Ventura trust attorney can help you make sure youโ€™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 youโ€™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 trust 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.

Ventura Trust Lawyer

Here are a few reasons to set up a trust.

To Avoid Probate

By avoiding probate using trusts, you could save your heirs time and hassle after youโ€™re gone. By using trusts, you are protecting assets as they are directed to your named beneficiaries without going through the court in the probate process.

For Privacyย 

Using a trust can avoid making your financial affairs public record in probate court. Trusts are a private way to ensure your beneficiaries get the assets you intend for them while avoiding the scrutiny of probate.

For Medicaid Asset Protection

Medicaid is often used later in life for long-term care solutions like assisted living or nursing home fees. Your assets need to be under a certain threshold to qualify for Medicaid care. A qualified elder lawyer can help you set up your assets in a trust to get the Medicaid assistance you need later in life.

What Does a Ventura Trust Attorney Do?

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.

Our Ventura trust attorneys will give you the added security of knowing that youโ€™ve carefully considered each potential arrangement and chosen the legal services and estate planning tools that best fit your intentions and goals. You can also ensure that any unusual details or complexities of your particular estate are accurately accounted for in the plan.

When Should You Contact a Ventura Trust Attorney?

Itโ€™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 one of our Ventura trust attorneys 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.

Services We Offer In Our Ventura Trust Attorney Office

We are here to help you

No two families are the same, so no two estate plans will be.

To discuss your custom California estate plan strategy, contact us. Let’s chat. We assure you that you will be able to communicate openly with us in a no-cost consultation, whether in English, Spanish, or Korean.

Click below to schedule an appointment, or complete the form here. A member of our estate planning team will contact you!

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Find An Office Location Near You

We understand that this can be overwhelming. Family estate planning forces uncomfortable conversations about preparing for unfavorable eventualities. Rest assured that we are as empathetic as we are knowledgeable.

Find us in Ventura, Westlake Village, Valencia, Pasadena, Calabasas, Santa Clarita, and Irvine, or connect with us virtually.

Frequently Asked Questions

Does everyone need a trust?

No. A trust will not be the best estate planning tool for every situation, but itโ€™s not always easy to tell if you need a trust or not until youโ€™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.

Many trustors, which are the creators of their trust, have themselves act as the trustee of their own trust while they are alive and well and can seek advice from professionals for investments.

Some trustors set up a professional investment manager to work alongside the trustee in order to ensure prudent asset management.

How are assets transferred to a trust?

You can transfer financial assets to a trust by contacting the financial institution that holds those assets. In most cases, you must provide them with the Certificate of Trust document. For other assets like real or personal property, you should consult our trusts lawyers for guidance.

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.

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