Irvine Trust Formation Attorney
A trust is a legal relationship in which the trustor holds property for
the benefit of a beneficiary or trustee. Once an individual passes away,
their trust is given to the successor trustee who was named in the original
trust. This individual will be responsible for taking care of the assets
and appointing them to proper beneficiaries. Forming a trust, or handling
one as a trustor, can be complicated.
Contact the attorneys at
Peter Rasla & Associates, P.L.C. without hesitation for all the help you deserve.
Reasons for Forming a Trust
Creating a trust is not the same as forming a
will. There are plenty of differences between the two that can be difficult
to understand yet also useful and advantageous to the trustee. If you
think you might need to form a trust, rather than a will, consider the
Personal management of assets: Trusts generally feel more personal than a will, as its creator can choose
specifically who will help carry out their final wishes and distribute
their personal assets.
Avoiding probate: Trusts do not necessarily have to go through probate, allowing for a more
expedited distribution of assets.
Privacy: A will is kept in legal public records, allowing any number of eyes to
see them, whereas a trust is not. If you want privacy of your distributed
assets, forming a trust can be the right decision.
Creating a Trust – How We Can Help
While a trust may be flexible in the assets it can distribute and the parties
it may name as beneficiaries, all that leeway can also cause loopholes
if done incorrectly. Failing to establish a proper grantor may render
the entire trust null and void. To be sure a trust is created and carried
out properly, contact the Irvine
probate lawyers at Peter Rasla & Associates, P.L.C.
free consultation, call 949-390-9994 now.