Attorney in Los Angeles Discuss Trusts and the Personal Benefits
Benefit of Estate Planning and Trusts
A common concern raised during estate planning consultations is a discussion of the impact of incapacity and how that can affect an estate plan. A critical benefit of Trust-based estate plans is it will often name a successor Trustee who can step in if the worst should occur. The successor trustee can manage Trust assets thereby sidestepping the need for undesirable and costly legal proceedings like a guardianship or a conservatorship.
In the event a trust-makers becomes incapacitated, there are actions in place to makes sure their wishes are respected. Trusts can also act as shields to protect from court interference while a trust-maker is alive and this is a significant to the use of a trust instead of a will.
Benefit of a Trust
A second personal benefit to the use of a Trust is privacy. Trusts are private processes that are administered outside of the purview of the public probate court process. Probate can be costly and time-consuming and requires the notification of potential successors, trust-based planning avoids these issues entirely.
For questions or assistance about Estate Planning, contact the
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