One way to ensure your loved ones and other such beneficiaries receive the assets you wish to Leave them are to place your assets in a living trust. As the name implies, a living trust is one In which you would place assets during your lifetime. If you’re thinking about trust and estate planning in California, enlist a qualified lawyer’s help. At the Law Offices of Andrew Cohen, a Sherman Oaks living trusts attorney can explain your options and establish a living trust on your behalf.
Establishing a Living Trust in Sherman Oaks
Although various paralegals, online platforms, and other professionals and services may Theoretically, be available to assist in establishing a living trust in California, it’s wise to Coordinate with an expert if you’re considering setting up a living trust. At our Sherman Oaks living trusts law firm, we appreciate that everyone’s circumstances are Unique. We also understand you’ve worked hard to acquire assets that you wish to leave to your Loved ones. You want to feel confident that you thoroughly understand your options when Creating and establishing a living trust and critical-related planning. We put in the effort to familiarize ourselves with the needs and goals of our clients. We’ll answer your questions about the different types of trusts you can set up, establish a trust that achieves Your goals, and ensure your trust is managed properly.
Revocable Living Trusts in Sherman Oaks
When you establish a revocable living trust, you retain the power to control the assets in the Trust during your lifetime. The assets in the trust may pass directly to your beneficiaries while Bypassing the probate process after your death. Or, they may remain in the trust on behalf of Your beneficiary’s heirs.
You might choose to establish a revocable living trust if you believe you may have reason to Make changes to the trust before your passing. Discuss this option with a Sherman Oaks living trust attorney to learn more about whether it’s right for you.
Irrevocable Living Trusts in Sherman Oaks
Establishing an irrevocable living trust involves degrees of giving away assets and relinquishing Control over them during your lifetime. Although this might initially seem to indicate that an irrevocable living trust is a less desirable option than a revocable living trust, it’s important to Understand a client’s entire situation so that thoughtful decisions can be made.
Perhaps you need to shield assets from estate taxes. Or your beneficiaries need to have assets Managed and administered on their behalf. Different trusts can provide different benefits. Contact us so we can discuss this.
Contact a Sherman Oaks Estate Planning Attorney Today
Determining what type of living trust best serves your needs and proceeding to create one can Be a complex task if you lack experience addressing these matters. At the Law Offices of Andrew Cohen, an experienced Sherman Oaks living trusts attorney will handle this process For you. Learn more about how we can help by contacting our firm online or calling us at 661-481-0100.