While there are a few ways of managing your assets in order to provide for your loved ones after you’re gone, setting up trusts can be one of the easiest ways to do so. Here are a few things you should know about setting up trusts for your loved ones.
Revocable Living Trusts
Revocable living trusts are great because they can be altered at any time, making it much easier to organize assets and distribution after death. When searching for a
trusts attorney in Redlands, CA, ask about revocable living trusts and whether it would be right for you.
When you are no longer here to express your wishes, it can be difficult for your loved ones to make sure that everything is handled properly. By setting up trusts, you can ensure that any wishes you have concerning the distribution of your assets will be honored. You can even set it up so that if you were to become incapacitated, things would be handled smoothly while you are still alive.
Trusts can be handled by someone close to you or an appointed third party to act as a fiduciary. Either way, setting up trusts can make sure that your loved ones are not at risk of not getting what is rightfully theirs. Your trustee will distribute your assets in a way that you see fit, as well as ensure that disabled persons and minors are well taken care of.
There are so many benefits to hiring a trusts attorney in Redlands, CA, so it is definitely something worth looking into. While there is an initial fee for setting up the trusts, it is well worth it to know that your loved ones will be protected after you are gone.
For more information, visit Betty Auton-Beck Professional Law Corporation.