Arcadia Trust Lawyer

Estate planning is a straightforward, beneficial way to secure your financial future no matter what stage of life you’re in. One part of this process involves determining whether or not you want to utilize a trust to protect your assets. When you work with an Arcadia trust attorney from our firm, you can rest assured knowing you’re getting the legal support you need to adequately plan for your future.

Your Arcadia Trust Attorney

At Robert G. Petrovich, Attorney at Law, we have helped countless California residents create estate plans that help them feel confident about their future. We understand the complexities that come with creating trusts in Arcadia and are familiar with the laws that surround them. Our experienced team can work with you to build an estate plan that addresses each of your assets and loved ones, as well as form a trust that protects what is important to you.

The Various Types of Trusts in California

The type of trust you choose to open determines how you protect your assets. In California, you can typically choose between opening a revocable or irrevocable trust.

A revocable trust, also known as a living trust, can be modified or revoked while the grantor of the trust is alive. This allows people to protect their assets while still being able to manage them and make adjustments as they see fit.

An irrevocable trust, on the other hand, cannot be changed or revoked once the grantor establishes it. With this type of trust, you lose control over your assets for the rest of your lifetime, but you can enjoy more tax benefits and protection.

There are other types of trusts that your trust lawyer can teach you about, so you can be sure you’re making the right decisions about your finances and other assets. Beyond revocable and non-revocable trusts, Arcadia trust laws recognize:

• Dynasty trusts
• Life insurance trusts
• Qualified personal residence trusts (QPRTs)
• Special needs trusts
• Spendthrift trust
• Testamentary trust

Hire a Trust Attorney in Arcadia

It can be difficult to navigate Arcadia trust laws on your own, especially if you’re new to the estate planning world. The good news is that you don’t have to do everything by yourself. Instead, you can hire a trust attorney to help shoulder some of the heavy lifting.

Robert G. Petrovich, Attorney at Law, is a local law firm serving residents throughout Southern California. Our founding attorney, Robert Petrovich, has over 40 years of experience in estate planning law and has handled both litigation and transactional matters. With that said, he knows how to navigate trust cases and come up with personalized solutions that meet our clients’ unique needs.

Californians tend to have more wealth than residents in other states. The state and local general revenues were $702.9 billion in fiscal year 2022. Moreover, the median household net worth in the state is $288,000, which is over $100,000 higher than the national average.

The more you own, the more important it is to know how to protect your assets, so you can rest assured everything is secure while you’re alive and is going to go where it needs to go when you pass. You can count on our team to offer whatever level of support you need regarding a trust.

This includes:

• Asset management
• Dispute resolution
• Drafting trusts and related documents
• Tax planning
• Trust creation and administration
• Trust litigation
• Trust planning

FAQs

Q: Can I Make Changes to a Trust After Creating One in Arcadia?

A: Depending on the type of trust you open, you may be able to modify or even revoke it altogether. In California, revocable trusts, also known as living trusts, can be modified or revoked by the grantor during their lifetime. This means you can make modifications such as adding or removing assets or changing named beneficiaries. Irrevocable trusts, on the other hand, cannot be modified or revoked once they are created.

Q: Do I Need to Work With an Arcadia Trust Attorney to Open a Trust?

A: Ultimately, it’s up to you whether or not you want to hire a trust attorney in Arcadia. While you’re not legally obligated to work with a trust lawyer, it’s highly recommended that you do. An Arcadia trust attorney can use their experience from past trust cases and knowledge of trust laws to help you navigate your case and create a solution that meets your needs. Every situation is unique, so it can be beneficial to have a professional on your side who can plan accordingly.

Q: How Can Opening a Trust in Arcadia Protect My Assets?

A: As a part of your estate planning journey, you can decide whether or not you want to protect your assets with a trust. Trusts allow you to predetermine what happens to certain assets if something were to happen to you, often while avoiding the lengthy probate process. It also legally separates assets from your personal property, which can protect them from creditors or anyone filing a claim against you.

Q: What Is the Difference Between a Grantor and a Trustee?

A: When you open a trust in California, you become the official “grantor” of the trust. As the grantor, you must assign a trustee to manage the trust. This individual has the power to manage the assets in a trust based on the instructions you lay out in the trust. This includes administering trust property, distributing assets, filing tax returns, investing assets, and maintaining accurate financial records.

Talk to an Arcadia Trust Attorney About Securing Your Financial Future

It’s never too early to make a plan for your finances and other assets, especially when you live in Arcadia, California. The team at Robert G. Petrovich, Attorney at Law, brings over four decades of experience to the table that we’re ready to put to work for you.

Whether you have a simple financial profile or complex investments and high-value assets, you can count on our firm to come up with a personalized plan based on your needs. If you’re ready to discuss your future in more detail, contact us to schedule a consultation with an Arcadia trust lawyer today.