Information Regarding Drafting a Trust
Accomplishing What You Have in Mind
It is important to many of us to make provisions for our estate after our death. We wish to be in control of matters such as how our estate is distributed, what is done with our assets and who will receive the benefits of our estate. A trust is a legal document that provides this control if it is correctly drafted. For many, having a properly written trust gives them certainty and peace of mind regarding the future.
In a trust, another person or persons will manage your estate on your behalf for the benefit of others such as your spouse and children. There are many statutes and laws dealing with trusts, taxes, probate and other areas that must be known and adhered to. If your trust is not drafted correctly, it may not carry out your wishes and can cause disputes which take time and money to resolve. An incorrectly written trust may result in additional estate or income taxes that you had not intended. At Kerendian & Associates, Inc., our experience has shown that use of an experienced
Los Angeles trust attorney can help ensure your intentions are factually realized.
Los Angeles Trust Lawyer
In drafting a trust that will work, a person, persons or corporation needs to be named as trustee. This person will be responsible for managing and distributing your estate. The beneficiaries of your estate need to be clearly delineated. The exact property and assets of the estate need to be listed with specifics so as to prevent confusion and disputes down the line. It would not do to state, "My property goes to my wife" as what constitutes "your property" is not specifically laid out. A properly written trust will tell the trustee exactly what his or her duties are and what they are to accomplish.
Living trusts,
irrevocable trusts,
revocable trusts and many other types can be well written by a lawyer who knows the laws and has successful experience in the area. The purpose of your trust can be accomplished as you desire when correctly drafted.
If you want to make certain that your trust will accomplish what you intend,
contact a Los Angeles Trust Lawyer
for help.
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