LEGAL EXPERTISE
Trusts
Family Trusts are an important option when estate planning, allowing you to protect assets, avoid the costs and delays of Probate, provide gifts for loved ones, and avoid unnecessary complications in the future. Revocable trusts are particularly useful, as they may be amended over the years as your needs change. At Jay Worrall, Attorney at Law, we help individuals and families understand their options and choose the best trust structure for their goals. If you are looking for an experienced trust attorney or searching for trust attorneys near you, we provide personalized guidance every step of the way.
Benefits of Trusts
Our estate services will draft the plan that meets your goals
Living Trusts
A Living Trust is a somewhat broad term for a Trust that is created in the Settlor’s life time. It may be revocable or irrevocable depending on the Settlor’s needs and goals.
Irrevocable Trusts
Irrevocable trusts give clients enhanced asset protection and certain tax benefits that are unavailable with revocable trusts. However, they also are more restrictive, and are generally not the Trust most families create.
Revocable Trusts
Revocable Trusts are the more flexible type of Trust. They can be amended, especially as your family grows or your needs change. Most families usually have revocable trusts.
Trust Amendments
The ability to amend your trust is very important to many people. Families evolve through births and deaths, marriages and divorce. A Trust created ten years ago may be obsolete today. Worrall Law can help you with whatever amendments you may need.
Frequently Asked Questions
How do I know which type of trust is right for me?
It depends on your goals, assets, and family situation. At Worrall Attorney at Law, we review your needs and explain the different types of trusts so you can make the best choice. Most people tend to choose revocable trusts.
What is Probate and why do I want to avoid it?
Probate is an important legal process wherein the California Probate Court helps determine who should be in charge of an estate and how assets should be distributed. The Court wants to make sure that any deceased person’s affairs are handled properly, but sadly many people die without an estate plan in place. In these circumstances, the Probate Court will do their best per the terms of the California Probate Code. Unfortunately the entire process can be both slow and expensive. A well-drafted Estate Plan helps avoid this, making life easier for your loved ones, too.
I have a Will–Isn’t This Good Enough?
A Will is an important part of any Estate Plan, but it may not be sufficient for your needs. Depending on your financial assets, whether you own real property, how the property is held, and whether you have minor children, you and your family may need a Trust too. You can easily spend more on the Probate process than you would spend creating a Trust.
What is a revocable trust and why would I need one?
A revocable trust lets you manage assets during your lifetime and ensures they pass smoothly to heirs without probate. It’s flexible and can be updated if your situation changes, such as when new family members are born.
Do I need a living trust attorney to create a trust?
While you can use online forms, a living trust attorney ensures your trust is legally valid and tailored to your specific circumstances. This prevents costly mistakes and protects your family. These documents, properly prepared and executed in advance, will be invaluable to your family in the event of a health crisis or passing of a loved one.
What are the benefits of an irrevocable trust?
An irrevocable trust attorney can help you create a plan that may reduce estate taxes, protect assets, and secure long-term care benefits.
Where can I find trust attorneys near me?
If you are searching for trust attorneys near you, Worrall Attorney at Law offers personalized service to guide you through creating and managing your trust. Based in San Diego County, Attorney Jay Worrall has helped clients throughout California.
Schedule Your Complimentary Consultation Today
If you’re ready to establish a new business or estate plan, or you’re looking to protect your business or personal assets and legacy, schedule a complimentary consultation today. Worrall Attorney at Law simplifies challenging conversations, helping business owners and their families achieve security through open communication about your unique circumstances.