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The following article was published in our article directory on October 12, 2015.
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Our Helper: The Living Trust Attorney

Article Category: Legal

Author Name: Santa Clarita Lawyer

For some, if not most, family is the most important part of their lives. Family is their center, their gravity and what pulls them together. For these persons, the main focus of their lives is to provide for their family ensuring their lives. Naturally for them, their main worry when they think of death is how will be their family's life afterwards.

Same as God sent an angel, a Family Trust Lawyer comes to rescue those who have concerns regarding their family's future once they have crossed the veil. A Family Trust Lawyer will assist you to understand better how a Family Trust works.

Your Family Trust Lawyer will first explain that by virtue of a family trust, a individual can change the ownership of his assets to the trust.

A Family Trust Lawyer notes that there are three key players in the field of a family trust, the trustor/settlor, the trustee, and the beneficiary.

A trustor is the original owner of the property who sets up a trust. With trust and confidence, the trustor looks to entrust his property to another person named as the trustee.

The trustee then has control of the trustor's property for the good of another person known as the beneficiary. The trustee can decide to be the trustor himself or another person chosen by him to act in such capacity.

Naming who shall be the beneficiary of the trust is based on the discretion of the trustor and the trustor is free to name anyone he believes worthy to be his recipient. Having said so, it is clear that the trustor may opt for only one beneficiary of his property or a number of beneficiaries. Hence, it is possible that only one or some and not all family members of the decedent shall be named as his recipient.

Then what about the trustor, does it mean he will not be adequately provided for in his/her lifetime? Faced with this question, the Family Trust Lawyer, will probably take it upon himself to give advice to his client that: 1st that there are 2 kinds of a family trust; and 2nd, the economic value of putting up a family trust.

The Family Trust Lawyer will describe that there are 2 kinds of family trust, the first one is through a announcement of the trust, and the 2nd one is through a last will and testament. The first one takes effect instantly, while the second one takes effect after the passing. There is no problem with the second one, as much as the concern raised is the economic consequence of setting up a family trust. For the simple reason that there cannot be any dire consequence to someone who is already deceased. As for the 1st kind of family trust, the question about economic consequence to someone who put up a family trust is of importance.

The Family Trust Lawyer will subsequently notify the said individual that, that while it is true that the legal possession of the property has already been changed to his family member, such person may retain control over the estate. Meaning, that although the legal name has already been transferred to his family, still he may still remain entitled to receive the the benefits derived therefrom. This can be done by making himself the sole trustee or one of the trustees of his properties.

While the angel Michael is widely depicted as an angel with a sword by which he protects men under his guardianship, a lawyer assists his clients in drafting a trust deed, by virtue of which his client's assets will be protected and controlled. While it is an old axiom that whoever holds the sword has the power, it is similarly true that in so far a family trust is concerned, whoever holds the trust deed has the power of the sword. By virtue of this sole legal instrument the future of the estate can be controlled. The scope and limits of the trustee as well as other terms of the trust relationship is controlled by this document. Therefore, a lawyer must be vigilant in helping his client to the best of his abilities in drafting the trust deed.

Will an attorney insist that his client should set up a family trust? In the same way that men cannot be required by angels to follow a strict set of heavenly scriptures, a attorney is there to assist and not to oblige.

The question of what is best for one client should never be answered by his counsel but instead should be determined by the client alone. But in so answering this question, it is the lawyer's job to help the client reach a well-informed and deep sighted result.

Keywords: Santa Clarita California Tax Probate Trust Law Lawyer Attorney

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