There are many different kinds of trusts. Before you make any decisions as to the type of trust you want, an experienced attorney can help you figure out what type of trust best reflects your needs, and the needs of your family.
At the Carlsbad Law Offices of Rickard L. Borg, our Carlsbad trust planning attorney will help you explore your full range of options and devise trust planning solutions tailored to your needs, as part of a comprehensive estate plan. Contact us online or call 760-729-2313 to schedule an appointment.
Oceanside, California, Special Needs Family Trust Attorney, Offering a Practical Approach to Finding Solutions
Trusts are not right for everyone, but if you are married, single, have a home, retirement assets, a small business, or investment property, a trust can provide a number of advantages. A trust will cost less for your family to administer and will save them from the hassle of the probate process. When set up and maintained, a trust can expedite the transfer of assets directly to your heirs. It will also allow the management and control of your assets without court intervention. For married couples with substantial assets a trust may save on taxes. For single people, a trust may help them avoid a conservatorship if they fall severely ill.
Most importantly, a trust will allow you to come up with a truly unique plan, taking into consideration the needs of your heirs and modes of distribution, including:
- Lump sum or annual stipends
- Special needs trusts to protect assets of a disabled child and maintain Medicare eligibility
- Charitable gifts
- Set aside money for care of pets
- Conditional gifts: children must reach certain age, finish college
Many people believe that a trust will automatically avoid taxes, but this is not necessarily the case. Under most circumstances, a trust will not save taxes. However, if you have considerable wealth that could be subject to the estate tax, an A-B trust could help you minimize potential tax impacts.
Taking a look at your current financial situation, we will help you decide if a trust is right for you and your family. We have found that most people with assets can benefit from a trust, if only because of the privacy offered by a trust. A trust can also help one avoid a conservatorship. Clearing up any potential myths, we will also help you avoid potential trust funding pitfalls.
Need Help Drafting a Trust? Contact Us Today
There are a lot of things to consider when drafting a trust, so it is important to make sure you fully consider all your options. Open during weekly business hours, our California special needs family trust lawyer helps families throughout the Greater Carlsbad area, including Oceanside find the right trust and estate planning options. We also offer evening and weekend appointments, so contact Rick today to schedule a consultation.
