How do I protect my loved ones after I am gone?

Nobody can live forever, and it’s essential to plan for the future. But, even after you’re gone, you can still have a lasting impact on your family’s financial well-being.

In California, one effective way to ensure your loved ones are taken care of is by setting up a trust. This legal tool allows you to allocate specific assets, such as money and property, for the benefit of your family members.

There are different types of trusts to consider, such as a revocable living trust or one included in your last will and testament. With a trust, you can designate someone to manage the assets and outline instructions on how and when those funds should be used.

When it comes to distributing the money and property, there are various options available that suit your preferences and the needs of your loved ones:

1. Outright distribution

You can instruct the trustee to simply distribute all the money and property to your loved one without any restrictions or give them full control to withdraw their share of the trust at any time, no questions asked.

2. Age-based distribution

In your trust terms, you can specify different ages at which your loved one will receive a portion of the money and property. For example, one-third at age thirty, one-half at age forty, and the remaining amount at age fifty.

3. Milestone-based distribution

If you have specific goals or achievements you want your loved one to reach before accessing the funds, you can set milestones. The trustee will distribute a certain percentage or amount once these milestones are met. Some example of milestones are earning a college degree or completing military service.

4. Trustee’s discretion

If you have concerns about how your loved one may handle the money, or if they face potential risks like debts, a troubled marriage, or addiction, you can empower the trustee to decide when and how distributions should be made. This way, the trustee can protect the money and property from creditors and predators while still ensuring your loved one can enjoy its benefits.

We want our clients to have a wonderful and fulfilling retirement. One important step towards that is creating an estate plan that addresses your specific needs and takes away your worries. Our team is here to support you and your loved ones. Get in touch with us soon to find out how we can assist you.

750 F Street, Suite 2
Davis, CA 95616

333 University Ave, Suite 200
Sacramento, CA 95825

3017 Douglas Blvd, Ste 300
Roseville, CA 95616

288 Pearl Street
Monterey, CA 93940

San Antonio
18756 Stone Oak Pkwy, Ste 200
San Antonio, TX 78258

We operate on an appointment-only basis other than our Davis office.

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