Trusts

Trusts are flexible legal tools that can be tailored to meet your specific needs and goals, both during your lifetime and after death. Through a properly structured trust, your assets can be managed and distributed according to your wishes by the people you choose, without the need for court involvement.

A trust can help avoid probate after death and, just as importantly, avoid the need for a conservatorship in the event of incapacity. By avoiding court involvement, a trust can save significant time and expense while ensuring your affairs are handled seamlessly, privately, and in accordance with your wishes.

Trusts serve a number of important estate planning purposes. A trust can help you:

• Avoid the expense and delay of probate 
• Maintain privacy 
• Ensure assets are distributed according to your wishes 
• Plan for incapacity and avoid the need for court intervention 
• Protect assets 
• Provide for a child with special needs without jeopardizing public benefits 
• Avoid Medi-Cal recovery claims after death 

Trusts are typically created as part of a comprehensive estate plan, which may include a pour-over will, a durable power of attorney for financial matters, and an advance health care directive for medical decisions, among other documents.

Most estate plans utilize revocable living trusts, which can be changed or revoked during your lifetime and provide flexibility in planning. In some situations, irrevocable trusts may be used for more specialized planning.

Hempel & Mudd Law can help you determine the appropriate trust structure to meet your goals and circumstances.