Hawthorne, CA Trust Lawyer

Creating A Trust Doesn’t Have To Be Stressful! We’ve Got The Knowledge And Experience To Help You Achieve Your Goals.

It’s never too early to enjoy the benefits of protecting your assets in a trust. Unfortunately, some people believe you have to be particularly wealthy or be well into your retirement years to start thinking about estate planning, but that simply isn’t true. Trusts offer many advantages, both during your lifetime and after you pass! 

Our Hawthorne trust lawyer can guide you through the steps of creating a trust that best suits your family’s unique dynamic and financial needs. Don’t wait until it’s too late – no one knows what tomorrow will hold. Take the first step toward safeguarding your legacy today and call to book your free consultation. 

Trusts Are Integral To The Estate Planning Process

Many people think that having a will alone is where the estate planning process starts and stops, but there’s a lot more to it than that. While wills are definitely essential tools to have, they work best when used in collaboration with a trust (or a variety of different trusts). 

With just a will and no trust, your assets will still be subject to probate – a long, expensive, and legally complicated court process. It could take months, or even longer than a year, for your loved ones to obtain the inheritances you earmarked for them. Moreover, the long window of time it takes for probate to be resolved opens the door for things like creditor claims, lawsuits, and will contests. Wills also only go into effect upon your death, so if you only have a will, and you suffer a medical incident or an accident and are incapacitated, the will won’t be helpful. 

When you have a trust combined with a will and other estate planning components, the transfer of your wealth is fast and efficient, which ensures that your money and property remains in the hands of your loved ones. Furthermore, the opportunity for legal complications to arise is minimized. If you are incapacitated, a trust can be helpful to your family in that circumstance. 

Our skilled Hawthorne trust lawyer can help make your estate plan as robust as possible with a strategically-crafted trust!

Our Hawthorne Trust Lawyer Helps You Choose The Type Of Trust That Aligns With Your Goals

There are many different kinds of trusts that serve their own specific purposes. Our Hawthorne trust lawyer takes the time to learn more about your family and your financial situation, so he can recommend the right strategy. Some possibilities include:

• A revocable living trust – a trust that is created during your lifetime and able to be amended or revoked at any time; the primary purpose of this trust is to avoid probate and ensure a smooth and private transfer of assets to your heirs upon your death
• An irrevocable living trust – a trust that cannot be modified or revoked once established, and which is intended to provide asset protection and estate tax benefits
• Special needs trust – a trust that is designed to provide financial support to dependents or other loved ones with disabilities, while ensuring that their eligibility for public benefits is not put at risk
• Charitable trust – a trust that allows you to donate assets to a charitable organization you admire, while receiving tax benefits
• Testamentary trust – a trust that does not take effect until after you pass, and which is intended to manage and distribute assets to your heirs according to your wishes
• Asset protection trust – a trust established to shield assets from creditors and lawsuits, and which is most often utilized by those concerned with potential financial liabilities or who are in professions with a high risk of litigation
• And more!

Trust Hayes Law Firm To Simplify The Process And Ensure Your Wishes Are Honored

You’ve worked hard to build your legacy, so you can’t afford to leave it unprotected. Hayes Law Firm has helped countless Californians of varying levels of wealth take advantage of the benefits that trusts offer to them and their loved ones, and we can help you too! We focus all of our efforts on estate planning, trusts, and probate services, so we know how to effectively navigate all of the state and federal laws that regulate these processes. This guarantees you’ll maintain legal compliance, putting you in the best position for success! Call today to book your free consultation and learn more about what comes next. 

Frequently Asked Questions About Trusts In Hawthorne, CA

What happens after the trust is created?

Once your trust is created, you must “fund” it (transfer assets into it). This means changing the ownership of certain assets – such as real estate, bank accounts, investments, and personal property – from your name to the name of the trust.

Can I be the trustee of my own trust?

With some types of trusts, like revocable living trusts, it is possible for you to be the trustee of your own trust. However, it’s important that you also name a successor trustee who can manage the trust if something happens to you. With other types of trusts, a person other than you is required to be the trustee, whether that be a relative or a professional fiduciary. 

What if I want to change or revise my trust?

If you have a revocable trust, you can make revisions or even revoke it if you wish. However, irrevocable trusts are not able to be revoked or revised. Our Hawthorne trust lawyer can go over the benefits and drawbacks of both types of trusts with you so you can be confident in the type of trust you are utilizing.