Still Good Reasons to Establish a Trust: Protect Assets, Avoid Probate and More

8:56 pm Asset Protection, California Trusts, Probate

trust1 e1319135794367 Still Good Reasons to Establish a Trust: Protect Assets, Avoid Probate and MoreCommentary from a Top Rated Estate Planning & Probate Lawyer in California

Trusts are fundamental estate planning tools that have been used for years by people wishing to protect their assets and ensure their safe passage on to heirs.  With the estate tax exclusion now set at $5.25 million per person for 2013 (and adjusted annually for inflation), some may think that a trust is no longer necessary to perform these valuable tasks.

However, there are still several good reasons for establishing a trust:

  • Trusts can allow you to pass on assets without having to go through probate.
  • Establishing a trust is usually much less expensive than the cost of probate.
  • Trusts provide everyone with a degree of privacy that is lost through probate.
  • Trusts can protect assets against creditors.
  • Trusts enable you to set rules on when and if a beneficiary will inherit assets.
  • Trusts guard against the vagaries of changing estate tax rules, shielding assets from potential taxes.

Even if your estate is modest, a trust can help you provide for your heirs today as well as for those in future generations.

Your California legal and financial planning experts are at your service; Contact us today.

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