It is vital for everyone to have a solid estate plan in place to protect themselves, their family, and their assets and ensure that those assets are passed on according to their wishes. Right now, you may not be ready to give up control over your assets, and that is fine. At the Law Offices of Andrew Cohen, our Woodland Hills living trust attorney is here to help design a plan for the future.
Living trusts are designed and implemented while a person is still living. Our team is ready to help you establish a living trust that is flexible and that meets your needs, giving you the ability to control your hard-earned assets.
When you are establishing a living trust, you need to do so with the assistance of an attorney who has extensive experience handling estate planning issues. At the Law Offices of Andrew Cohen, you will have help from a compassionate attorney who takes the time to get to know every client and their goals and needs.
At the Law Offices of Andrew Cohen, we recognize that every individual, family, and living trust is going to be unique, and we work to make sure that the individual goals and needs of every client are properly planned for. We want to discuss two types of trusts here, and we invite you to contact our team so we can discuss these more in-depth.
A revocable living trust can be created to transfer title to most of your assets while you are still alive. However, you will retain control over your assets as the trustee of the revocable living trust.
During your lifetime, you will have the right to change or revoke the trust at any time. After you pass away, the assets in the trust will pass directly to your beneficiaries or be held inside the trust on their behalf. This will help avoid the probate court process altogether.
An irrevocable trust is established when an individual wants to give away some of their assets while they are still alive. It can be difficult to revoke or changes these types of living trusts. After you give away your assets to the irrevocable trust, you relinquish significant usage and control of those assets.
An irrevocable trust can provide extensive protections for some of your assets, including protection from creditors, depending on who the trustee is and who the beneficiary of the trust is. However, establishing and implementing an irrevocable trust is not right for everyone.
When you are looking to develop a living trust, you need to make sure that any plan meets the needs of yourself and your family. It’s important to work with a skilled attorney throughout this process. At the Law Offices of Andrew Cohen, we are available when you need a Woodland Hills revocable trust attorney. Our goal is to establish a comprehensive living trust for you, along with other important estate documents. Let us help you maintain control over your assets now and ensure that those assets are handled properly when you pass away. You can contact us for a free consultation of your case by clicking here or calling 661-481-0100.