Today, many of our clients are opting out of the probate system to the extent possible by creating revocable living trusts to manage their estate succession, or to establish a special trust for a beloved niece, nephew, grandchild or other relative. Still others want to create a trust to benefit their favorite charity. A trust takes on a life of its own, and while it can be tedious at first to create the trust, it can make matters much simpler for your beneficiaries down the road after you have passed.
There are a wide range of different trusts possible. One very popular kind of trust is a spendthrift trust, which protects a beneficiary from his/her own inability to control spending and protects the principal from creditors. The trust principal is under the control of an independent trustee and the beneficiary has no control over the trust. This kind of trust might be appropriate for a 21-year-old college student who is the beneficiary of a large inheritance, and can include provisions that the trustee maintains control until the beneficiary reaches a certain age.
While there are many advantages to creating a trust, it is not necessarily the right option for everyone. Our trust packages include several comprehensive meetings with the attorney to discuss your goals and objectives, to review your estate composition and potential probate liability, and to discuss options for protecting your beneficiaries from themselves as well as from others.
A simple revocable living trust can start at only $2,100, with complex trusts for complicated or high-value estates beginning at $3,500 and above.
As an added courtesy, we now provide in-home appointments for our elderly estate planning clients who have difficulty with transportation, health or the convenience of leaving home for our office. If you reside in Contra Costa, Alameda, Solano or Napa counties, it would be our pleasure to meet with you and your family in the comfort of your own home if you find it difficult to meet in one of our offices.
Contact us or call (925) 465-2500 or (707) 398-6008 to schedule a free initial estate-planning consultation at Sparks Family Law, Inc. with attorney Gary D. Sparks to discuss the different options available to you.