Should You Consider Setting Up a Trust?

A trust is a financial arrangement that a lawyer can set up for you. While trusts can be very useful for many people, not everyone needs one. Generally, it’s advisable to have an estate planning attorney set up a trust on your behalf if you have substantial assets or complicated financial situations. For guidance on whether a trust can benefit your family, watch this video and contact an estate planning attorney near Tracy or Livermore.

The expert in this video discusses some of the types of trusts available and explains why some people may want to have a lawyer establish them. For example, upon your passing, any assets managed within your trust will bypass the probate process. This can help ease the transition of your passing for your surviving loved ones. Additionally, trusts may confer certain tax benefits.