When creating a California living trust to benefit minor children, there are many items to consider. Trusts are an excellent tool for providing for your beloved family members. An experienced Orange County estate planning lawyer can help guide you through the process of creating the living trust that is most beneficial for your family.
What are some examples of items to consider as you create an estate plan including a living trust to benefit minor children?
The following are several such examples:
- Who would you like to be in control of your children’s trust fund until such time as it is all distributed to them?
- Do you want to name more than one trustee, with the hope that it will make for a more cooperative relationship between the children and the trustees?
- Do you want to hold all of the assets in one common pot until a certain age or some other event, such as when all children have completed school?
- Do you want to carve out specific circumstances when distributions should be made to the children?
- Do you want the children to receive their inheritance outright at one time, or staggered over a period of years?
To learn more about setting up a trust that addresses all of your goals and concerns as part of the estate plan creation process, contact the experienced Orange County estate planning attorneys at the Law Office of James F. Roberts & Associates, APC. Call our office today at (714) 459-5481 for a consultation.