A revocable trust is often the best way for an individual to plan their estate. Unlike a will, that can only give a limited amount of instructions to the probate court; a trust is a tool that allows a person to transfer assets, disperse funds incrementally and ensure that loved ones have everything they need long after a person has died. This tool isn’t just for people who want to micromanage their adult children’s finances after they’re gone, it is actually a very effective way to ensure privacy and control over where assets go following a person’s death.
Although many wealthy people have assets in a trust, a firm like the Law Office Of Raoul J LeClerc Chico CA might tell all of their clients they don’t have to be rich to make use of a revocable trust. Many people use is sole to keep their estate private. Without this tool, all of a person’s assets might be listed in public documents as their estate is settled in probate court. Although the deceased person might not be concerned about what others know about them after they are gone, they might not want the public to know what their family members have inherited from them.
Trusts are very flexible and the Law Office Of Raoul J LeClerc Chico CA helps neighbors set up trusts regularly. This law office is part of the community and is dedicated to helping Chico families create estate plans that meet their individual needs. Every family is unique and they each worry about different things. For those who are concerned about giving their young adult children large sums of money, a trust is a great way to distribute it incrementally. With a trust, a parent could pay their adult child’s college tuition, give them a portion of the funds when they graduate and give them the remainder at another point in their lives.
Trusts are also a great option for blended families. Visit Website to learn about how a trust can help a parent ensure their children from a previous marriage are given money from the estate. A revocable trust can take pressure off of the current spouse and prevent family tension after a parent has died.
