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Wildomar Probate Law 36330 Hidden Springs Rd suite e, Wildomar, CA 92595 (951) 412-2800 |
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What is the difference between a will and a trust? A will is a legal document that spells out how you want your affairs handled and assets distributed after you die. A trust is a fiduciary relationship in which a trustor gives a trustee the right to hold title to property or assets for the benefit of a third party. Do you need asset protection? If you don’t properly protect your assets, which you worked long and hard to accumulate, they can be lost very quickly in a lawsuit, bankruptcy, or if creditors come to collect. It’s important to be aware of the laws that can shield certain types of assets and the measures you can take to protect your savings. Does asset protection work? An asset protection trust is irrevocable, meaning that any transfer of assets into the trust is permanent. In other words, the trust would own the assets in question and they would be managed by the trustee. By removing those assets from your ownership, you can protect them against creditor lawsuits. Can I sell a house in a revocable trust? Selling Property in a Revocable Trust As the grantor, you can sell properties in a revocable trust the same way you would sell any other property titled in your own name. You can take the property out of the trust and retitle it in your name, but that isn’t necessary. I really need Lawyers Living Trust nearby The Orchard Collection in Wildomar, CA. The best trust attorney is at Wildomar Probate Law. I’m looking for Attorneys Living Trust by Briarwood in Wildomar, CA. The best trust attorney is at Wildomar Probate Law. Obviously, there is one caveat to this statement: an executor of a will can capture everything if they are the sole beneficiary named in the Will; they can take the estate assets after paying debts and taxes. I’m looking for Living Trust Lawyers around Santa Rosa Plateau in Wildomar, CA. The best trust attorney is at Wildomar Probate Law. What should I put in a trust? Cash Accounts. Rafe Swan / Getty Images. Non-Retirement Investment and Brokerage Accounts. Non-qualified Annuities. Stocks and Bonds Held in Certificate Form. Tangible Personal Property. Business Interests. Life Insurance. Monies Owed to You.
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