Living trusts are an important component for many different people’s estate plans. Trusts may seem mysterious at the outset, or you may be under the impression that they’re only used by the wealthy. However, trusts in California can provide benefits to nearly everyone who wishes to control how those assets are distributed and who want to protect those assets. There are many different types of trusts available to you and working with a Pasadena estate planning lawyer is really the best way to determine the types of trusts most applicable to your situation.
Business and homeowners may be curious about using living trusts. Living trusts can help to protect assets from estate taxes, but the biggest benefit of creating a living trust is that the assets inside it do not have to go through probate. This means that your beneficiaries do not incur probate expenses and will be more likely to receive their inheritance quickly. This is extremely important for any business owners who need their estates to pass quickly so that the beneficiaries appointed to take over the business can continue to keep the business operational.
Home and business owners have many unique considerations as it relates to the process of planning for your future. This is why it is extremely important that you identify an attorney who can help guide you through the process of creating a comprehensive estate plan and continuing to work with you as you need to update it over the course of time. Our experienced lawyers work with you to identify the most important components of your estate plan and to guide you into further details of what to expect.
