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Now that we’ve talked about trusts and what trusts do let’s talk about some of the other documents we typically draft we put together an estate plan. The first is what we call a pour-over will. Now we just talked about how wills are basically a letter of instructions to the probate court.
In a trust, there are three players, there’s the settler, the trustee, and the beneficiary. The settler is the person who sets up the trust, typically the client. The trustee is the person who is entrusted with the management of the assets that are in the trust. The beneficiaries, as the name implies, are the people who are entitled to the benefits of the property that’s in the trust.
The easiest way to look at a trust is that a trust is like a box. You set it up, you put your stuff into it, and the box owns the stuff, but you on the box. It’s kind of one step removal of ownership. The reason that’s useful is when you’re gone, the trust continues to exist.
Estate planning is one of the main areas of law we practice here Morris Law Group. David Morris is a certified specialists in trusts and estates. The main idea behind estate planning is really very simple, make sure that your stuff goes where you wanted to go as quickly and cheaply as possible after you’re gone.
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El Dorado Hills, CA 95762
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Sacramento, CA 95864
About Morris Law Group
Attorney David R. Morris is a Certified Specialist in Estates, Trusts, and Probate, certified by the State Bar of California. Certified Specialists undergo rigorous peer review, testing, and education to certify that they are experts in their subject matter areas. Fewer than two percent of attorneys in California become Certified Specialists in any area of law—the designation serves as an indication that the attorney is skilled, experienced, and knowledgeable in the specialty area.
With offices in Sacramento and El Dorado Hills, Morris Law Group provides innovative, cost effective solutions for clients seeking to resolve and avoid problems related to their families and livelihoods. We serve individuals and business clients in the communities of El Dorado Hills, Sacramento, West Sacramento, South Sacramento, Midtown Sacramento, Natomas, Folsom, Granite Bay, Rancho Cordova, Citrus Heights, Carmichael, Roseville, Cameron Park, Shingle Springs and Placerville.