Santa Clara, UT Trust Lawyers

It is a common misunderstanding that trusts are reserved for the wealthy and elderly. We all have a desire to leave a lasting impact and provide for our loved ones. A trust is the best way to make sure that your assets are handed over to the people you care about in the way that you want. There are many different types of trusts that you can use to attain your estate planning goals and benefit your loved ones.

The Santa Clara trust lawyers at ProvenLaw are uniquely positioned to guide you through your choices so you can find the right types of trusts to secure a better future for yourself and your family. Get in touch with us to arrange a free consultation and discover how we can assist you in leaving a lasting legacy. 

A Trust: What Is It and Why Do I Need It? 

A trust is a legal means by which you can transfer assets from your ownership to the trust’s ownership in order for them to be designated to your beneficiaries. Trusts can hold money or other assets, such as property. The distribution of assets can occur in various ways, such as after your passing, when your beneficiary reaches a specific age or milestone, or through periodic payments from the trust. There are many different options when it comes to trusts, which is what makes them such a flexible and worthwhile tool.

A trust is useful for many reasons, not the least of which is that it allows you to designate assets for your beneficiaries in a way that gives you some level of control. They are also beneficial for your beneficiaries as it enables your assets to be transferred to them directly, avoiding the costly and time-consuming probate process. In addition, these resources can be quite helpful as they allow you to strategically plan your assets in order to minimize tax obligations for your beneficiaries. But above all, they allow you to protect your legacy!

Types of Trusts

There are several different types of trusts that perform different functions. But no matter what type of trust you choose, they all fall into one of two categories: 

• Revocable trusts are trusts that pass down your assets after death. While you are still alive, you can change the terms of the trust after it has been created. 
• Irrevocable trusts also pass down your assets after death, however, you cannot change the terms of the trust once it is established.

Our Santa Clara trust lawyers want to help you find the unique type of trust that matches your needs. Here are some common types of trusts that we can build for you:

• Marital trusts
• Bypass trusts
• Charitable lead trusts
• Spendthrift trusts
• Testamentary trusts
• Life insurance trusts
• Special needs trusts
• Pet trusts
• And more….

If you have someone special in your life who you want to ensure receives what they need, should anything happen to you, a trust is a great option for showing your love.

Our Santa Clara Trust Lawyers Can Help You Choose the Right Trust to Meet Your Needs

At ProvenLaw, we want to help you leave behind a legacy of which you can be proud. We want you to be able to support the ones you love even when you are no longer around to care for them. We can assist you by getting to know your objectives and assisting you in selecting the trust kinds that most closely match your requirements. Contact us to schedule a free initial evaluation, and we can discuss how we can assist you with your estate plan.