A Sacramento trust attorney, often called an estate planning attorney is a legal professional that takes responsibility for the duties involved in preparing and later administering the estate of a client upon his or her death. This attorney will assist the client to draft a will and do it in such a way that the tax implications and probate are kept to a minimum. The attorney will set up any trusts that are suitable to compliment the wishes of the client and the same individual may be later assigned as the executor of the will and the administrator of the estate.
To many people they think that drafting a will is a simple, straight forward process; the truth is; to do it right it is far more complicated than meets the eye. Depending on the jurisdiction in where the will is executed there may be unique rules that have to be adhered to and the language used in the will may also be explicit. Those individuals who execute a will do so to ensure that their assets, the estate, is disposed of exactly as they wish. To ensure that the will is prepared to meet all the legal requirements these individuals will hire a Sacramento trust attorney to make sure that that which they desire is that which happens. There are many unique legal requirements that must be met; in the event these rules are not met the distribution of their estate may not go in accordance with their wishes and directions.
One significant difference based on the jurisdiction in which the will is executed is the tax implications. Many areas have crushing estate taxes that become due upon a person’s death, it is obviously in the best interest of the individual to ensure that his or her estate is set up in such a way that taxes are mitigated and that rather than the bulk of the estate going to the government, it goes to their named heirs as is the intention of the individual.
In some cases it is better to use a testamentary trust to ensure that a named heir gets what the deceased individual wants. If the individual wants to make sure that there is enough money to ensure the tertiary education of his or her grandchildren as an example, the trust can be funded from the estate as the need arises. Once the grandchild has completed secondary school, the funds are immediately made available for a college education.
