If you’ve ever wanted to set up a trust to distribute your assets to beneficiaries, you’ll want to get a Living Trust Attorney. These trusts bypass the court guardianship process and pass your assets to beneficiaries after you die. You can even make yourself a trustee of your trust, which will automatically distribute your assets to your spouse upon your death. In addition, you can set up conditions in your trust to control how your assets will be distributed, such as requiring that your grandchildren graduate from college.
When looking for a living trust attorney in Los Angeles, experience is an important factor. Experience in estate planning and business formation will allow an attorney to help you protect your assets and make sure they stay in one piece. An attorney with experience in these fields will be able to outline a plan that will take into account all of your concerns and provide you with the best outcomes for your estate. Stone & Sallus LLP specializes in corporate formation and asset management.
Another benefit to hiring a living trust attorney is that it gives you more control over the transfer of your property after your death. If you have minor children, you can designate a successor trustee and set up multiple distributions to them at certain ages. For instance, your minor children could receive 1/3 of your assets when they reach certain ages. Alternatively, your children could receive one-third of your assets at age 22, then another third at age 25, and so on.
While a living trust is beneficial for people with significant assets, it has its drawbacks. In some cases, it is not needed at all. For example, a single person with no children may not need a living trust. On the other hand, someone with significant assets may need one if they have significant estate assets. Estate taxes are a complicated process, and many states have no estate tax. This is why many people opt for a living trust to ensure the privacy of their estate.
While living trusts are separate legal entities, wills complement each other. A living trust protects beneficiaries upon your death without the stress and expense of probate. You can set up a simple living trust on your own, or hire a professional to design an advanced living trust. No matter how complicated your plan, a competent living trust attorney will ensure that your estate is divided appropriately. While you can create a living trust on your own, it’s best to have someone else handle the deed work.
While you’re still young, hiring a living trust attorney can help you sort through the various issues that come up during the process. Getting an attorney can save you and your family a lot of money down the road. Although a living trust attorney is expensive compared to other estate planning documents, it is worth the money to protect your loved ones. A living trust attorney can review your trust and advise you on the appropriate state laws and procedures.