A trust can be revocable or irrevocable. It may be a constructive trust or an express trust. It can be created to protect the financial interests of the beneficiary through a spendthrift trust or it may be set up to benefit a charity rather than a specific person or group of people. There are numerous ways that people in California can set up their trusts, and in turn, numerous ways that they can make trust planning mistakes if they fail to take the appropriate considerations when establishing these important estate planning tools.
The many issues that can arise from the trust creation process should not be bars to individuals making trusts. Often it is simply a lack of knowledge about trusts that results in a person failing to create a trust that fully encapsulates their desires for what they want to accomplish through estate planning.
It can be hard for a person desiring to set up a trust to know where to start in learning enough about trusts to make informed and knowledgeable decisions about what they need to do to have their testamentary plans fulfilled. As such, it can be incredibly beneficial for individuals in this situation to work with estate planning legal professionals who know how trusts work and what needs to be done to make them legally enforceable.
Michael A. Sawamura, Attorney at Law, serves the greater Sacramento community in this important capacity. Attorney Sawamura is committed to providing his clients with legal guidance in the field of estate planning. To learn more about this topic, readers are invited to visit his law firm’s trusts webpage.