Estate Planning Attorney Serving Clients in Northern California
To avoid probate, a trust may be created that will not be considered part of the estate when you pass away. Most estates must be probated in order to determine the validity of a will and proper distribution of assets. It is important to hire an experienced trust lawyer to help you create a plan that avoids probate.
Trusts serve the essential function of allowing your family to transfer the title estate property without the expense and time associated with going through probate. The California probate process can be time-consuming and expensive.
Daniel Leahy, Esq., helps clients from his office office in Oakland, California, and he creates trusts that achieve your goals. Contact us online or call (510) 985-4151 today to schedule a consultation with an experienced Northern California trusts lawyer.
What is a Living Trust?
A fair amount of attention has been placed on the importance of creating a living trust. Living trusts allow you to remain in control of your estate during your life while reducing the hassle of transferring ownership after your death. Living trusts can save you considerable amounts of money by avoiding the transfer of assets by probate.
A living trust is created during one’s lifetime. These may be irrevocable or revocable.
Irrevocable Trusts — If there is no concern about a need to alter the trust, you may choose an irrevocable trust. It is not taxed as part of the estate when you die.
Revocable Trusts — You have the right to change certain aspects of the trust. It is part of the estate when you die but is not subject to probate.
Popular trusts include the following:
Charitable trusts benefit a worthy organization immediately or in the future.
Spendthrift trusts benefit a person who is not considered responsible enough to handle a large amount of money.
Special needs trusts benefit children and adults not ready to completely care for themselves.
There several different trusts that can be created in order to minimize probate, administration, and probate litigation costs. If prepared correctly, trusts are an important tax-saving plan that transfers property either before or at the time of death, thus avoiding estate tax. An example of a few types of trusts we prepare include:
Life Insurance Trusts
Grantor (Living) Trusts
Implementing a Trust
Equally as important is the implementation of the trust. Our experienced Northern California trust attorney will help abate the confusion of your children, spouse, and loved ones during probate by creating a solid estate plan.
Contact an Experienced Oakland Trust Attorney Today
To learn more about creating a trust, or to schedule a consultation with an experienced Oakland trust and estate attorney, fill out our online form or call us at (510) 985-4151 today.