Do you know the difference between a trust and a will? It is okay if you don’t, most people do not, but a Sacramento trust attorney does. A lot of people make the mistake of thinking that unless they are extremely wealthy they do not have to worry about whether trusts or wills or trusts and wills apply to them.
The Facts
A Sacramento trust attorney can help you to decipher if a trust is something you need to be considering. There are some key advantages to setting up trusts that include:
- Potential tax savings
- More control over your finances
- Less problems for your estate
- And more
The fact is each instrument brings its own value to the table and you do not have to be super wealthy to enjoy the benefits. There are quite a few ways that trusts can benefit your estate that you cannot find with a will.
Trusts Can Avoid Probate
One of the key advantages of setting up a trust for your beneficiaries is that trusts can avoid the probate period. When properties are held by a trust instead of an individual, the property transfers to the designated trustee when the owner of the asset passes away.
It Can Be Tax Saving
Estate taxes, inheritance tax and more can eat up the assets in an estate quickly. A trust can be tax saving. Understanding all the benefits that are available starts with consulting with an expert in trusts.
The Law Offices of Mitchell S Ostwald can evaluate your case and give you focused advice about estate planning and how trusts can be helpful in your situation. Before you make any decisions make an appointment to speak with a trust attorney that has the experience to protect your estate.
