Long Beach Trust Attorney
Trusts are a powerful estate planning tool because they have the power to avoid probate and minimize, or potentially eliminate, estate taxes. Trusts are also extremely flexible and can be designed to accomplish goals that a will alone could not. At the Law Offices of Stephen E. Cockriel, we have decades of experience creating effective trusts.
There is much confusion about the terminology surrounding trusts. People often request a living will and actually mean a living trust. A living trust is a trust that is effective while the trustmaker is alive, as opposed to a testamentary trust that goes into effect upon the trustmaker's death. We will educate you about types of trusts and guide you toward the trust that is right for you and your family.
Funding The Trust
Many people think that simply creating a trust is sufficient. Unfortunately, that is not the case. All too often, people create trusts on their own, thinking they are protected, and then when they pass on, their family learns that is not the case. In order for a trust to do what it is intended to do, it must be funded. The trust needs to be the owner of the assets. When you choose our law firm, you will work with a Long Beach trust lawyer who will make certain that your trust is properly funded so it will do what is intended.
Wills And Trusts
We recommend the creation of wills along with trusts. The will can address the disposition of any asset that does not get added to the trust, because either it was overlooked or it was obtained after the trust was created. We want you to have maximum protection.