Throughout life, we do everything we can to stay safe, provided and happy. We are restlessly trying to protect what we’ve built, and doing our best to use our assets carefully and cleverly. At some point, the time will come when we won’t need any of our earthly possessions anymore – however, our loved ones will. This is why it is very important to be well-informed about all living trust benefits. Consult the best living trust attorney San Diego who can give you accurate information on how a living trust is created and how a trust works compared to a standard will and who can also assist you in setting up your living trust for maximum asset protection. Remember that the Law Offices of Irina Sherbak are always here for you when you need estate planning services in San Diego!

Which are the main living trust benefits?

1. Avoiding probate and cutting down corresponding expenses. Probably the most rewarding benefit of setting up a trust is the fact that there is no need for probate court involvement. Also, there are no additional fees and taxes your loved ones have to pay while waiting for your will to be established as valid. All assets can and will be distributed to the beneficiaries within a short waiting period after the grantor (the person who set up the living trust) has passed away. This means that your loved ones will not be forced to wait for your will to be probated (which is a lengthy process), which is very important, especially if the beneficiaries financially depend on the assets they will inherit.
2. Keeping the financial records private. With a standard will, as mentioned, a probate is necessary, and while it is in the process, all corresponding financial records are open to the public. By opting for a living trust, the grantor gets to keep their records private, as the trust does not require the estate to go through the probate period.
3. Establishing a guardianship or conservatorship is quicker and easier. This is a very important living trust benefit that concerns the guardianship of minors in case of parents’ or legal guardian’s death or incapacitation. Setting up a living trust saves time and money that would be spent in court in the process of assigning custody over minors, enabling the appointed guardians to take immediate care of entrusted children.
4. Planned and controlled asset distribution to minor beneficiaries. With a living trust set up, you decide how, when, and in which amounts your assets will be distributed after you pass away. This means that you can set up such a fund that instructs your children should receive a certain amount of money (or certain real estate) at the age of 18, then some at 21, and then some at 25, for example. Such a planned distribution of assets leaves you in peace, knowing your loved ones will be able to use their inheritance when they are mature enough to handle such responsibility.

Keeping your loved ones safe is only one phone call away

If you want to find out more about living trust benefits and how to create one, feel free to contact The Law Offices of Irina Sherbak, APC, the expert living trust attorney in San Diego. Take a free 30-minute consultation – just call 858-208-8900 –  and put your mind at ease when it comes to taking care of your nearest and dearest. We will handle all the rest.