Why Set Up a Trust? Ask a Sacramento Trust Attorney!

Why Set Up a Trust? Ask a Sacramento Trust Attorney!

A Sacramento trust attorney can tell you exactly why a trust may be the better option for your estate planning. Trusts are not used as often as they should be, because many people do not take the time to consult with a Sacramento trust attorney before making decisions about their estate.

Wills Vs Trusts
Both a will and a trust are estate planning tools to ensure that your estate is directed as you want it to be but a trust may be the better option in certain situations. An experienced attorney can help you to decide which is best and whether you need both. There are a few differences between the two documents, the main one is that one takes effect as soon as the documents are drawn up and the other does not take effect until you pass away. Other differences are:

  • A trust can help the estate to save money and time in probate, assets are rarely frozen with a trust
  • Trusts can be more specific and provide provisions in case you become incapacitated, wills do not offer this protection
  • If you have assets that can suffer from long probate periods, like a business, a trust can act as protection
  • There are tax benefits of a trust that a will cannot provide

There is a lot of information to consider about both these instruments that an attorney can help you to understand. In most cases, savvy clients use both tools to protect their estate and their heirs.

Ask an Attorney
Estate planning can be challenge no matter how much value is in your estate. The right legal support can help you to make the informed decisions that will protect your assets both now and when you are no longer here to make decisions. The Law Offices of Mitchell S Otswald is a good place to start your planning and learn more about trusts!

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