At Stolar Law Group, we firmly believe it is never too soon to begin planning for your future. If something were to happen to you tomorrow, can you confidently say that those closest to you would be taken care of? Pondering the what-if situations isn’t fun, but it’s a good idea to consider the state of your assets to better secure the future of your family and loved ones. To plan your will or trusts, contact an experienced estate planning lawyer, like those at Stolar Law Group.
Led by founding attorney, Steven Stolar, who brings more than 40 years of experience to our practice, Stolar Law Group is proud to offer professional, approachable legal services to all of our clients. Our Los Angeles will and trust attorneys provide personalized legal counsel to meet the specific needs of each client, protecting their best interests every step of the way. Based in Beverly Hills, our firm represents clients throughout Los Angeles County and all of California, from San Diego to San Francisco.
SCHEDULE YOUR FREE CASE EVALUATION WITH OUR TEAM TODAY BY CALLING (424) 421-0009 OR BY CONTACTING US ONLINE USING OUR SECURE SUBMISSION FORM.
WHAT IS A WILL?
Wills are the most common document in an estate plan. They fulfill the most basic needs in dividing an individual’s assets. In a will, a person can designate who will receive their possessions upon their death. This includes properties, funds, vehicles, or any other belongings.
With a will, you can split your possessions in any way you choose. You may even designate that certain properties or funds be sent to charities. If you have young children under the age of 18, you may also use the will to appoint guardianship.
Should the owner of the will wish to include any conditions for the beneficiaries, the details of those stipulations should be outlined in the will. An experienced estate planning attorney will be able to help you draft a will according to your exact specifications, including any stipulations you would like to impose on your beneficiaries. For example, a person may wish to leave a fund to his grandson, but only if he enrolls in a university.
WHAT IS A TRUST?
A trust is an estate planning tool that allows you to move your properties and assets into the control of a third party on behalf of designated beneficiaries. With a trust, the person who establishes the trust (known as the “grantor”) can designate someone (known as the “trustee”), the power to manage the property on behalf of another person (known as the “beneficiary”).
While the property may ultimately belong to the beneficiary/beneficiaries, the trustee will continue to manage and control the property until the beneficiary can take the reins. Depending on the type of trust you create, you may serve as the trustee, meaning you can retain control of the assets and properties placed in the trust until your death or a certain time of your choosing.
Trusts can be particularly useful if the grantor wishes to leave a large sum to a younger person who is not yet old enough to manage it. The appointed trustee could maintain the funds and properties until the beneficiary is of age and is therefore capable of such arrangements. The property in a trust may be physical property or monetary funds.
Our Los Angeles trust attorneys at Stolar Law Group can help you review various types of trusts, including both common and less-common trusts, based on the specific details of your situation, as well as your personal concerns and goals.
WE ARE HAPPY TO DISCUSS YOUR VARIOUS OPTIONS DURING A FREE AND CONFIDENTIAL CONSULTATION.
