A trust is a legally binding agreement that allows a third party to control and distribute an estate’s assets. Despite many negative views associated with them, trusts offer a fantastic method to protect assets and provide for loved ones in the future. Trusts are not just for millionaires. They are important estate planning tools that can be immensely valuable for people from diverse walks of life.
The primary goal of a trust is to avoid the extraordinary expense, delay and hassle associated with the probate process. All wills are subject to probate. Trusts, however, are administered privately by a trustee of your choosing — not the probate court. A carefully drafted trust can help you direct your resources toward a more meaningful purpose than court expenses and attorney fees. Indeed, the cost of getting a well-crafted trust is miniscule compared to the extraordinary expense of a probate proceeding.
Though there are many different types of trusts available, they can all be categorized into one of two primary classifications.
Trusts can offer peace of mind and confidence where assets are concerned, but they can be difficult to navigate alone. An experienced Pasadena trust attorney can help. At the law firm of Robert G. Petrovich, Attorney at Law, near Pasadena, our trusts and estates lawyer is well-versed in all types of trusts. We can help you determine the right choice for your situation.
Depending on your circumstances, you may wish to consider:
You can carefully tailor any of these trusts to reflect your specific wishes — even incorporating certain incentives or contingencies clauses to have a lasting influence well beyond your lifetime.
Analyzing the many available estate planning options can be overwhelming. You may be bombarded with advice from well-meaning friends and relatives. To truly maximize the value of your estate planning opportunities, it is essential to seek advice from a legal professional.
We have provided trusted estate planning guidance for multiple generations of clients. You can work collaboratively with us to develop a thorough plan that is carefully tailored to fit your needs, benefiting from Bob Petrovich’s time-tested knowledge and 35-plus years of experience.
Based in San Marino (near Pasadena), Mr. Petrovich handles estate planning, probate, business law, real estate, and other legal matters throughout the San Gabriel Valley.