Castro Valley Trusts Attorney - Castro Valley Wills And Trust Lawyer

Castro Valley Trusts Attorney

Experienced Attorneys Working to Protect Your Family with the Right Estate Plan

An important part of estate planning often involves working with experienced attorneys to draft charitable trusts, qualified domestic trusts, revocable living trusts, irrevocable life insurance trusts, special needs trusts, and associated documents. Your attorney can also help you with any trust administration needs and any and all questions you might have about what is best based on your particular circumstances.

The Tavare Law Group is a boutique estate planning law firm located in Castro Valley, California. We specialize in Estate Planning, Trusts, and Wills. We have helped hundreds of clients protect themselves, their families, and their futures from estate taxes and probate through smart, strategic planning. Our castro valley estate planning law firm understand the importance of proper estate planning, and we work to ensure that our clients are protected just as we would our own families.

First Steps in Drafting a Trust

Your first step should be contacting our firm to set up a meeting and discuss your unique estate needs. Make sure that you bring any relevant documents with you, such as a list of assets and beneficiaries, possible trustees, your will, etc. There is no one-size-fits-all when it comes to establishing trusts and making sure your loved ones are taken care of. However, there are some basic considerations that you will want to consider with your attorney, as discussed below.

What are Your Priorities for the Trust?

Most people set up a trust in order to avoid probate and ensure that their assets are distributed without the intervention of the court. In addition, the terms of trusts are kept private (versus a will placed into probate, which becomes part of the public record). You want to ensure that you trust is as well-structured as possible, as this allows you to be specific in directing exactly how it will be disbursed. A well-structured, specific trust can also help avoid family discord and help guard against any wasteful spending for particular family members (for example, by designating that wealth should go towards educational expenses once a family member reaches a certain age).

A Living versus Testamentary Trust

A living trust is managed during your lifetime, while a testamentary trust forms after your death. There are pros and cons to both types of trusts. You can fairly easily manage a living trust as the primary trustee during your lifetime, and living trusts are not subject to probate. A living trust also allows you to manage your health care needs, and they can be amended or revoked with ease.

However, a testamentary trust is subject to probate, and is triggered by one’s will. This type of trust is often established to set up education and/or income for minor children (once they reach a certain age), and is common for individuals with minor children and/or disabled heirs. A testamentary trust is also irrevocable once it has passed through probate.

Revocable or Irrevocable?

Experienced Castro valley living trust attorney are often well-versed in the tax repercussions of estate planning and/or work with experienced tax professionals in order to ensure that the tax consequences of their decisions are as intended. Thus, for example, with a revocable trust, you keep full control of your assets during your lifetime. This means that you can dissolve the trust at any time, but you also bear the tax responsibilities for any income earned by it. Yet, with irrevocable trusts, once you transfer an asset into the trust, you no longer have control over it, or even own it. This also means that you do not bear any tax liability for any income that it generates.

About the Founder

Founder Melanie Tavare grew up in Berkeley and stayed here in the bay area for her entire education, including law school. As a mother of two who has been practicing estate planning law for years, she knows how important it is to work with someone you trust when it comes to making provisions for the future. She has been featured in SuperLawyers as a “rising star” attorney – an award that is given to less than 5% of practicing attorneys. Since 2013, she has been featured in SuperLawyers every year. She prides herself on providing nothing but the best for her clients.

Get in Touch Today

Note that a will is ideally always the cornerstone of an estate plan if you have children because you can use it to name a guardian for them. Without one, a judge could decide who takes care of your children in the event of your death. Safeguarding assets intended for minor children also involves creating a trust for them in your will, and naming a trustee to manage the assets for your children.

Contact Us Today to schedule an appointment and find out how we can serve you and your family, and provide you with peace of mind. We cover Trusts, Wills, and Powers of Attorney for Finances and Healthcare.