When it comes to estate planning, you naturally want to get everything just right. You want to make all the smart strategic decisions and get all your documents in place, ensuring optimal outcomes for yourself and the people you love.
The problem is that estate planning can get complicated! Once you get into advanced estate planning, including living trusts, it’s usually best to hire a professional. A living trust attorney will be able to guide you through your different options and help you establish a plan that’s aligned with your estate planning goals.
What is a Living Trust?
Before we get into the reasons for hiring a living trust lawyer, let’s start with something more basic: What is a living trust, anyway?
A living trust is an estate planning document that’s created during an individual’s lifetime, appointing one person (the trustee) to manage the individual’s assets on behalf of an ultimate beneficiary.
Living trusts are designed to make it easy for your assets to be transferred to an heir upon your death; and, for your heir to avoid some of the complexities and headaches of the probate court process.
Why Hire a Living Trust Lawyer?
This brings us back to our primary question: What kind of value can you expect from hiring living trust and will lawyers?
First things first: You don’t have to have a living trust and will lawyers to get your estate planning documents in place. Some individuals choose to take the DIY approach. However, due to the advanced nature of living trusts, we think it’s advantageous to work with a professional.
Here are just a few of the benefits you can anticipate when you hire living will trust power of attorney firm:
- Learn about your estate planning options. Did you know that, in addition to living trusts, you can also set up a living will? And what about the difference between revocable and irrevocable trusts? The point is that you have a lot of options to think through, and the right attorney will help you determine which option best meets your needs.
- Get tax planning strategies. One of the chief concerns of estate planning is minimizing the inheritance tax burden. Simply put, you want your heirs to receive as much value as possible from your estate. A qualified living trust attorney can talk with you about the best tax planning options.
- Find the right trustee. In setting up a living trust, one of the primary challenges is finding and training a reliable trustee. (Depending on the kind of trust you have, you may or may not be allowed to be your own trustee.) Your lawyer can walk you through this process and help you find the appropriate person for this important role.
- Establish and monitor your trust. Finally, a living will trust power of attorney specialist can do the hands-on work of setting up your trust, funding it, and handling all of the other duties associated with creating an effective estate plan. All of this can be time-consuming, so having the assistance of a law firm can really be invaluable.
These are just a few of the reasons why we think it’s worthwhile to enlist the expertise of a living trust attorney.
Learn More from Singh Law Firm
Ready to learn more about how a living trust can benefit you and your family? We’d love to talk with you further about setting up an irrevocable or revocable living trust. Singh Law Firm offers ample expertise in trust law, and we’re ready when you are to talk about having a living trust in California.
