A living trust, set up during your lifetime, is designed to allow for easy transfer of your assets. A trustee holds legal possession of the assets and property in your trust and has a fiduciary duty to manage the trust prudently for the trust's beneficiaries. Most significantly, it provides for an easy mechanism to facilitate the management of your asset if you become incapacitated, to designate what you want to occur upon your passing, and tp avoid the costs and delays of a probate … [Read more...] about Living Trusts: What Are They?
Were you recently informed that someone named you as the Trustee of a trust he or she created? If this appointment came as a surprise to you, you are not alone. Ideally, when a trust is created, the trust creator should discuss the position with a potential Trustee before naming that person in the trust agreement. Unfortunately, however, that doesn’t always happen. Now that you find yourself as a Trustee, do you need an attorney to help you? The Riverside trust lawyers at Dennis M. Sandoval, A … [Read more...] about Do I Need an Attorney to Help Me Administer a Trust?
One of the most important components of a comprehensive estate plan is a trust. Whether you choose to create a testamentary trust or a living trust, one step you must take during the creation of your trust is appointing a Trustee. A common mistake is to appoint a loved one without truly considering if that individual is the best choice for the job of Trustee. As the estate planning lawyers at Dennis M. Sandoval, A Professional Law Corporation point out, having trust in your Trustee is important; … [Read more...] about Trusting Your Trustee — Is It Enough?