A trust is similar to a will, in that it is a legal document which designates the division of your assets, following your death. Trusts, however, go one step further and specify a time at which the beneficiary can have access to the property, assets, or accounts. To ensure that the beneficiary receives the trust at the proper time, you will also nominate a trustee to manage your assets, until the appropriate time when the beneficiary can access it for themselves. Trusts are often put in place if you have minor children who will be coming into a large inheritance, after your passing.
To create a trust, that is thorough, clear, and legally sound, it is best to work with an estate planning attorney. Christopher E. Seymour has years of experience helping clients establish trusts in California. He will work with you closely to determine the right person to act as your trustee, and establish a timeline for when your beneficiaries will receive their assets. By taking the time to create a trust now, it will leave your family and friends prepared should you pass away suddenly.
Have you recently begun estate planning? Establishing a trust is critical to ensuring your loved ones receive your assets when you want them to, following your death. To learn more about the benefits of a trust or to schedule a consultation, reach out to Christopher E. Seymour, Attorney at Law today. Serving all of California, including Fresno, Madera, Tulare, Kern, Merced, Stanislaus, Kings, and San Luis Obispo counties.