Legal Professional For Revocable Trusts In Fremont
There are two main types of trusts: a revocable or living trust, and an irrevocable trust. A revocable trust is by far the most utilized in California and simply refers to a trust that is set up during someone’s lifetime and managed while they are still living. All assets go into the trust, including bank accounts, stock certificates, real estate titles and more. This is what is called “funding” the trust, and must take place in order for the trust to be considered valid. The goal of setting up a living trust is to avoid probate in the future; however, the trust must be properly set up and funded in order for that to happen.
A Revocable Trust Can Help Minimize Taxes And Eliminate Probate
By working with a skilled Fremont estate planning attorney who focuses on revocable trusts, you can be sure that you will be able to avoid the probate of your estate upon your passing. In California, the monetary value for the probate threshold is updated continually. If the value of your probate assets exceed that amount – and you have not established a trust – your estate will likely have to be probated.
Can A Revocable Trust Help You And Your Family?
Take a proactive approach to safeguard your assets and how you wish to distribute your estate, and help protect your loved ones even after your passing. Setting up a revocable trust generally isn’t something you can do on your own. There are websites out there that offer templates to build a trust, but without an attorney to help you understand what the trust says, what good is a template? With the help of a professional attorney from the Law Offices Of Angelo J. Lagorio, you can be confident that you are setting up your trust as efficiently and cost effectively as possible.
Attorney Lagorio has assisted many individuals and families with revocable trusts and understands what it takes to put together a living trust that will protect your rights, your assets and the rights of your loved ones after your death. Find out how a revocable trust can benefit you and your family soon. Send an email to make arrangements for a consultation. You may also reach the firm by calling 925-750-8757.