Trust Lawyer Orange CA
Planning for your future is important, and a trust lawyer in Orange, California can help – whether you’re just starting to consider what should happen to your estate upon your death, or if you’re trying to make adjustments to an already-existing estate plan you created a long time ago.
Unfortunately, not many people think about what should be done with their estate after their death. A will or living trust takes work to put together, and some people just don’t have the time or energy to commit to planning so far ahead in the future. However, you should always have a game plan to use in case of the unexpected, and creating a will or a living trust is the first step you can take to ensuring your loved ones know just what to do in the event of the unthinkable.
What is a Living Trust?
When it comes to estate plans, wills are generally easier to put together, but they require more input on the part of your friends and family after your death. On the other hand, a living trust requires management over the course of your lifetime, but establishing a trust protects your friends and family from many of the hurdles that come with a will, including probate and estate taxes.
A living trust (also sometimes just called a “trust”) can be actively managed while you’re still alive. It’s a set of instructions for your loved ones to follow upon your death or if you’re ever incapacitated, and it’s active the moment you create it. This means when you can update your trust whenever you see fit in order to account for gaining or losing assets or beneficiaries.
In the world of trusts, there are also irrevocable trusts which can’t be changed after their creation. However, irrevocable trusts are usually made for very large estates and are typically used to reduce taxes. Most people won’t have need for an irrevocable trust, but in any case they should contact a trust lawyer in Orange, CA so they can decide what’s best for their situation.
Why Do I Need a Trust Lawyer?
It’s possible to create your own trust, but it’s incredibly difficult to do by yourself. There are several requirements and demands that come with every step, and if you fail to dot your i’s and cross your t’s the whole trust can be voided. Fortunately, trust lawyers can help you establish a living trust that will stand up to any legal scrutiny, providing you with peace of mind and providing your loved ones with a solid plan to follow upon your death.
When you reach out to a living trust lawyer, you also get an important legal resource for questions you might have about how you can provide care for any family members that might be depending on you for their own wellbeing while you’re alive. If you have children, elderly parents, or disabled relatives, your trust lawyer can help you determine guardianship for them, and a durable power of attorney for yourself if you’re ever unable to make your own personal or financial decisions.
Dealing with the sudden loss of a loved one is a stressful and painful time, and you shouldn’t make things harder for your family and friends upon your passing. Instead, reach out to a qualified lawyer and take steps to establish an estate plan that works best for your assets and your beneficiaries, and learn how you can properly manage your trust from legal professionals you can rely on.
Reach out to a trust lawyer in Orange, CA today, and see how Holborn Law can help you plan your tomorrow.