Share

Estate News --- Observations of a Trust and Probate Attorney

Tuesday, August 30, 2016

Why do I need a Living Trust?

Business Planning Attorneys in California Recommend Living Trusts

  California business attorneys see again and again how folks underappreciate just what they can do to protect their businesses through estate planning.  After spending years building a solid business, it should almost go without saying that you want to protect what you’ve created.  One way is to work with a business planning attorney to create a living trust.

  A living trust gives you the ability to legally transfer your business or shares of it when the time comes.  One advantage that is not to be overlooked here is the fact that the assets in the living trust won’t be subjected to the probate process.  This allows for a much smoother transition—one in which you have a significant say.  Of course, taking this step with your business attorney now can also save a whole lot of money that would have been spent in that probate process, too.

  A lot of business owners also find that avoiding probate is good for the health of their company for non-financial reasons.  When a business or estate goes through probate, the information that comes out of the situation is made public.  This can be damaging to a business, whether through reputation or the sharing of information that should be held in confidentiality. 

  The living trust is something that can be used not only in the event of your death, but also if you happen to become incapacitated by illness or injury.  Because you’re the one setting the trust up, you have the opportunity to set out the parameters for it, within legal bounds.  In a best-case-scenario, you will already have a succession plan in place and will have prepared that person for the job.  Unfortunately, things like this don’t always follow the best case scenario, which is why your California business attorney will probably encourage you to share the pertinent details of the trust with your successor.

  In consulting a business attorney during this process, you can put yourself, your business, and your heirs in the best possible position.  The lawyer will be able to ensure that the terms of the trust are in synch, not only with California state law, but also with any legal obligations that are a part of your organization’s policies and procedures.  Putting the trust together well in advance of a catastrophic event and under the direction of your lawyer also helps to strengthen it so that your wishes will be followed.

  You’ve worked really hard to create a successful enterprise, and you likely hope it will endure without you.  Asking your Ontario business attorney to help set up a living trust is an excellent way to do exactly that!

  For your complimentary strategy session please contact us at 989-985-5522 or bha@bristolhaynes.com.


Archived Posts

2016
December
November
October
September
August
July
January
2015


Brock, Robinson & Associates assists clients with Estate Planning, Wills, Trusts, Special Needs Planning, Pet Trusts, Probate & Estate Administration, and Family Business Preservation in Chino, California as well as Chino Hills, Inland Empire, Pomona, Rancho Cucamonga, Ontario, Montclair, Diamond Bar, West Covina, Covina, Glendora, San Dimas, La Verne, Claremont Fontana, Riverside, Colton, Corona, San Bernardino, Redlands, Orange, Brea, Yorba Linda, Fullerton, Hacienda Heights, Eastvale, Norco, Mira Loma, Alta Loma, Upland, Rialto, Highland, Loma Linda and Grand Terrace in San Bernardino County, Los Angeles County and Orange County.



© 2018 Brock, Robinson & Associates | Disclaimer
15220 Central Ave, Suite A, Chino, CA 91710
| Phone: 866-529-4632

Asset Protection | Elder Law | Advanced Estate Planning | Gun Trusts: Targeted Estate Planning | Business Succession Planning | Guardianship | Estate Planning | Pet Trusts | Special Needs Planning | Business Law | Probate / Estate Settlement | | Legacy Recordings | Resources | About Us

Attorney Website Design by
Zola Creative