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Sacramento Estate Planning Attorney

Posts tagged "trusts"

What is a living trust?

Trusts may be created in two main ways. The first is at the end of a person's life. When a person passes on their estate may pass automatically into a trust if they have executed the appropriate estate planning documents. However, a person can also create a trust while they are alive. An inter vivos trust, also known as a living trust, is created by a grantor and administered by a trustee for the benefit of a beneficiary.

What is a special needs trust?

It is an unfortunate fact that some individuals struggle to care for themselves and to hold down jobs that provide them with necessary income. Often individuals in these difficult scenarios suffer from disabilities and are eligible to pursue financial support from the government. Californians with certain disabilities can receive insurance and financial assistance from the Social Security Administration and other governmental organizations.

Work with a dedicated attorney when creating your trusts

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.

Know the benefits of a spendthrift trust

It seems like every family has one: a person who cannot manage their money or who spends money in a loose or even reckless manner. They may be well-intentioned, but Californians who wish to leave such individuals assets from their end of life estates may fear that the beneficiaries will squander their inheritances and dispose of their accumulated wealth in an irresponsible manner.

What is the purpose of a charitable trust?

This Sacramento estate planning legal blog has provided a number of posts on the various kinds of trusts that Californians may wish to create as they consider how their wealth and assets should be distributed upon their deaths. While many estate planners wish to leave their families and friends the money and goods they have amassed over the course of their lives others also wish to make charitable contributions to organizations that are important to them. The creation of charitable trusts can serve this purpose and this post will address some of the basics on these specialized trust tools.

Important points about a revocable trust

Having a well-organized estate plan is one of the most important decisions that a Sacramento resident can make for the good of his or her family. While this is generally understood, many people are lacking the in-depth information to make the best decisions to suit their specific situation. A trust is an example of this. There are various kinds of trusts including a revocable trust and an irrevocable trust among others. Knowing how a revocable trust can be beneficial is a wise step before using it.

Pluses and minuses of a living trust (inter vivos trust)

For Californians, estate planning might be perceived as a dual-edged sword. On one hand, it is a strategy to make sure that loved ones are cared for and assets are allocated as the owner wants. On the other hand, it is acknowledging one's mortality and preparing for the inevitable. However, there are certain methods that are beneficial and should be considered even if it is difficult to contemplate. One is a trust. Specifically, a living trust (inter vivos trust) is a tactic that is useful. Knowing its benefits and potential drawbacks is key before deciding.

California law limits how long a trust interest can last


Creating a family trust that will endure for generations is an ambition of many people who have amassed significant wealth. Under California law, however, there is a limit on how long an interest created by a trust can last. That limit is called the "rule against perpetuities."

Living trusts have many advantages in California


For some people in California, estate planning is very simple. The cornerstone of their estate plan is a simple will containing instructions as to how their assets should be distributed upon death. Combined with a durable power of attorney to provide some protection if they become incapacitated, and a living will to make sure their health care wishes are respected, they have all they need in an estate plan.

My Sacramento law practice, Michael A. Sawamura, Attorney at Law, focuses on wills, trusts and estate planning law in addition to business law and corporate defense services. My clients include professionals, government employees, small businesses, blue-collar workers and national corporations.

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