Sonoma Trust Attorney
Trusts are key components of an overall financial plan. They can be especially useful for those who want to reduce their estate tax, avoid probate court, specify how beneficiaries can use their inheritance, and those who want to avoid will contests. At Gullotta Law Group, we will work to build a comprehensive estate plan that meets all your goals and desires. We can help you understand what types of documents you need to protect your assets and your future estate. Let us do the worrying for you! Get your free consultation today by calling 707.938.7234.
Trusts can be a key component of an overall financial plan as well as a comprehensive estate plan. For those who want to avoid probate court, reduce estate taxes, avoid will contests, and even specify how beneficiaries can use their inheritance, a trust may be the ideal document. There are many different types of trusts, which will be more fully discussed, but the two primary types of trusts are revocable living trusts and irrevocable living trusts.
A revocable living trust can essentially be used as a substitute for a will or can be used in conjunction with a will. In fact, those who have minor children and will need to appoint a guardian for those children can only do that through a will, so it is likely you will need a will and a trust in this situation. A revocable living trust is just that—revocable—meaning it can be changed as you wish, and as your circumstances change. A revocable living trust can be changed, amended or revoked any time you choose.
A revocable living trust can help your beneficiaries avoid probate court, as the assets held in a trust transfer automatically to your named beneficiaries. Often the trust maker (you) also acts as the trustee, managing trust assets until your death or your incapacitation. In addition to allowing your heirs to skip probate and being able to change or revoke the revocable living trust, .
Getting Help for Your Trust from the Gullotta Law Group
Trusts come in many types, most of which are made with a specific purpose in mind. Trusts are governed by state and federal laws which change periodically, meaning you should always consult with an experienced estate planning attorney prior to creating a trust. A Gullotta Law Group Sonoma County estate planning attorney can help you decide which type of trust can help maximize your estate while reducing taxes and protecting assets to the extent possible. Every person’s situation is unique, and our knowledgeable estate planning attorneys will provide you with the necessary tools to maximize your estate, reduce taxes, protect your heirs and protect your assets. Contact the Gullotta Law Group today.