Fontana Trust Preparation Lawyer

No matter the size of your estate, planning for the future entails a certain level of decision-making when it comes to how your assets are handled and distributed. A trust can serve as the perfect tool for executing your wishes and providing yourself and your beneficiaries the peace-of-mind that your intentions will be respected and carried out. Connect with a Fontana trust preparation lawyer to ensure your plan is carried out in accordance with California law.

An attorney experienced in estate planning can assist you in designing a trust that works for you. They can also craft a clear and comprehensive estate plan, which may involve additional documents.

Why Choose All American Law?

When you retain All American Law to prepare your trust, you engage the advice of attorneys with a combined 30 years of experience in family law and estate planning matters. We recognize the private, personal, and sensitive issues surrounding family members and are committed to helping you address them in a clear, concise, and easy-to-understand manner. We make it our priority to listen to you closely and familiarize ourselves with your estate planning needs.

Our goals are the same as yours: ensuring your estate planning is done properly and with respect to the sensitive issues surrounding your family matters. At our firm, confidentiality is taken very seriously. Our stance is one of loyalty, professionalism, and a comprehensive approach to any and all of your estate planning needs.

What Is a Trust?

A trust is a legal structure in which one entity, the trustee, is entrusted with the responsibility of managing assets for the benefit of another entity, the beneficiary. It can be used to avoid the probate process, maintain privacy, or manage assets for a minor child or a beneficiary who is unable to manage their own affairs, such as a person with special needs. With the assistance of a Fontana trust preparation attorney, you can be certain that your trust will do what you intend.

Types of Trusts

There are numerous types of trusts, and each type is used for a different concern. Revocable living trust agreements allow you to maintain control over your assets while you’re alive, and you have the ability to revoke or change the trust whenever you choose.

Irrevocable trusts, once set up, can’t be easily changed, but they can help you reduce taxes and protect assets. If you’d like to change an irrevocable trust after it’s been created, all beneficiaries must agree to the modification. This can create contentious disputes between family members.

Other trusts fall into the categories of special needs trusts, charitable trusts, and spendthrift trusts. Special needs trusts allow those with special needs to have access to funds without compromising their eligibility for benefits.

The Trust Preparation Process

A trust is a legal instrument that requires several steps to create. Your trust lawyer will assist you in completing each step.

• First, you and your lawyer will identify what you want to achieve in your trust and collect information about your assets and beneficiaries.
• Second, your trust lawyer will prepare the trust documents, ensuring they meet all legal requirements and accomplish your desired goals.
• Once the trust is ready, it will be drafted.
• Then, your trust lawyer will, with your direction, transfer ownership of assets into your trust, a process referred to as funding the trust.

Common Mistakes to Avoid

When setting up a trust, it is important to avoid common mistakes that can undermine your estate plan. A Fontana trust preparation lawyer can guide you so that you avoid:

• Failing to fund the trust
• Failing to consider tax implications
• Neglecting to update the trust over time

The Importance of Regular Reviews

Estate planning isn’t a one-time event. Marriage, divorce, the birth of children, the acquisition of property or wealth, and other changes in circumstances may warrant alterations to your trust. Your attorney should review your estate planning documents with you on a regular basis to keep them up to date.

FAQs

Q: Who Can Prepare a Trust in California?

A: It is possible, although not at all recommended, to prepare a living trust on one’s own using an internet program or a form trust kit from an office supply or legal services program. It is highly recommended to consult with an attorney to ensure the trust is legally sound and meets all California state requirements.

Q: What Is a Revocable Trust?

A: A revocable trust is a trust that can be changed or revoked by the trustor. If you create this type of trust, you can name yourself as the trustee and continue using the assets in the trust. In contrast, an irrevocable trust is much harder to change. All beneficiaries and the trustor must agree to a change before it can occur.

Q: How Much Does It Cost to Create a Trust in CA?

A: The exact cost of creating a trust depends on the level of the trust’s complexity and attorney fees. In California, fees can range significantly. Pre-printed trust kits through online services can be less expensive, but they are not recommended and risky without sound legal advice. It’s a good idea to consult with an attorney when setting up your trust.

Q: Can a Power of Attorney Create a Trust in California?

A: In California, a POA generally does not have the authority to create a trust for another person unless the POA document specifically spells out that authority. Make sure you look at the POA document, as well as review it with an attorney, to identify what powers are conferred.

Contact a Fontana Trust Preparation Lawyer

Setting up a trust is an important step toward protecting your financial future and ensuring that your family or loved ones are taken care of. If you are ready to set up a trust or want more information about how to get started, don’t hesitate to call All American Law’s trust preparation lawyers in Fontana, CA.

Our experienced attorneys can help you through the estate planning process, ensuring everything is legally valid. If you’re not satisfied with your existing estate plan, we can help you make adjustments. Contact our office today.