Estates are extremely useful and necessary tools to provide loved ones peace once you are gone. The first basic step of creating an estate is to create a trust. A trust is simply an agreement between the creator of the trust and the person managing the trust. Nowadays, these can even be the same person so you could legally not own your own property. Once a trust is created, you may eventually assign someone power of attorney. The person with the power of attorney is able to make decisions for you if you are incapacitated. Then you can create a will. This will can act to place your other assets into the trust account. Lastly, make sure with an attorney that you have all the appropriate documents.
For further information regarding estates and trusts please contact the Brea Estates and Trust Attorneys at 714-971-8000. Call today for your free 60-minute consultation!
