SACRAMENTO TRUST LAWYERS
A trust is a legal document designed to hold property for the benefit of one or more persons or an organization. A trust can be a very effective estate planning tool. With a trust, you can maintain control over your property during life, either for your own benefit or for that of someone else. You can also use the trust to outline the distribution of your property on death.
A trust is often the preferred estate planning vehicle because it allows for property distributed on death to avoid the lengthy and costly probate process. A trust can also work to reduce your federal and state inheritance tax liability. It also has no requirement that it be made publicly available.
There are many different types of trusts. A revocable trust, the most prevalent, holds property during the lifetime of the creator, and allows the estate to avoid probate. It can be revoked at any time prior to the creator’s death, or modified, for any reason. An irrevocable trust, on the other hand, cannot be easily revoked or modified.