Are you considering that it may be time to begin getting your affairs in order? There is no better time to initiate the estate planning process than the present, and waiting even a day longer means that you are taking a risk that something tragic could happen which jeopardizes the inheritance you planned to leave to your loved ones. Many people are under the impression that trusts are only for the wealthy, but trusts can benefit anyone who owns money and property, and are profitable estate planning tools.
Hayes Law Firm is committed to helping you understand your options when it comes to creating a trust, so we can find the right fit for you, your family, and your goals. Our lead attorney, William Hayes, has over 40 years of experience and is passionate about guiding clients to confidence that their legacy is protected and will be passed on to those they love most. Call today to schedule your free initial consultation with our Pasadena trust lawyer and learn more about how a trust can impact your future.
What Are The Benefits Of A Trust?
Trusts have many benefits, but the most noteworthy of them all is that they will bypass the California probate process upon your death. Probate is an obligatory court process that must take place following the death of an individual so that the money and property they owned can be transferred according to the terms of their will (or the California laws of intestate succession if they had no will).
Probate is long (9-12 months on average), expensive (due to court costs and filing fees which are paid out of the estate’s funds), and can be extremely stressful to the executor or personal representative who must oversee each step of the process.
As trusts are separate financial entities and not owned by you, they are not required to undergo probate. The administration of the trust will happen as soon as you have passed away, meaning your family can obtain their inheritance much faster, and without the excess expense and stress.
Other benefits of trusts include greater protection of your privacy, customization and control of how your wealth is distributed, and more!
Are There Different Types Of Trusts?
There are many different types of trusts that serve various purposes. Our attentive Pasadena trust lawyer will sit down to discuss your unique goals with you, so that he can have a better idea of which type – or combination of several types – most closely align with what you want to accomplish. Some examples of different trusts are:
- Revocable trust
- Irrevocable trust
- Testamentary trust
- Charitable remainder trust
- Special needs trust
- Family trust
- Generation-skipping trust
- Dynasty trust
- And more!
How Can A Pasadena Trust Lawyer Help Me?
Every family is different, and therefore no two estate plans will be exactly the same, especially if that plan includes a trust or several trusts. As already stated, trusts give you control over how your wealth is distributed after you pass, and also offer a great deal of flexibility. Having an attorney who listens to you and then tailors their solutions to your unique needs is crucial. We don’t believe in a “one-size-fits-all” brand of service; we believe in hearing you out, helping you understand your options, and then crafting the most optimal plan and putting it into action! We have helped create even the most complex types of trusts for our clients.
Learn How Hayes Law Firm Can Simplify The Trust Process Today!
Let us help you get started down the road to protecting your legacy! When you choose to work with us, you get free unlimited telephone support, free client seminars, free regular Legacy and Estate Plan checkups, and more! Call our experienced Pasadena trust lawyer today to schedule your free consultation and learn more about our services.