What Is a Trust?

A trust is a legal agreement where a person, called the settlor, transfers property to a trustee, who manages it for the benefit of others, known as beneficiaries. For example, a parent might set up a trust to ensure their children inherit their home without the delays and costs of probate.

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Unlike a will, a trust does not go through probate court, meaning it remains private and avoids court oversight. This makes it a valuable tool for managing and distributing property efficiently and discreetly.

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Advantages of a Trust

Trusts offer several important benefits, including:

• Avoiding probate: Trusts keep your estate out of public record and save your beneficiaries from court delays and expenses.

• Medi-Cal Recovery protection: A trust prevents the state from reclaiming assets to recover Medi-Cal costs.

• Property management: Trusts ensure your property is handled responsibly, even after you’re gone.

• Flexibility for beneficiaries: You can gift property to multiple people or hold assets for a minor until they reach adulthood.

 

For example, if you want to leave money to your children but ensure they only gain access when they turn 21, a trust allows you to specify that condition.

 

Contesting a Trust

Trustees are legally obligated to act in the best interests of the beneficiaries, but issues can arise. If a trustee:

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• Favors certain beneficiaries over others,

• Uses trust assets for personal gain, or

• Hides information about how the trust is being managed,

 

...this may result in a breach of fiduciary duty.

 

For example, if a trustee sells property from the trust and keeps the proceeds for themselves, this would warrant legal action.

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At the Law Offices of Hector C. Perez, we represent clients in trust disputes to ensure fairness. Whether you are a beneficiary concerned about mismanagement or a trustee needing guidance, Hector provides the support you need to navigate these complex issues.

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Do You Need an Estate Plan?

An estate plan is more than just a will—it’s a comprehensive way to ensure your property is distributed according to your wishes and to avoid costly legal complications. Here’s why an estate plan is essential:

1. It keeps your estate out of probate court: This saves money, time, and stress for your loved ones.

2. It preserves family relationships: Clear plans reduce the likelihood of conflicts over inheritance.

 

For example, if you own a family home and want it passed to your children, an estate plan ensures they inherit the property without it being sold to cover court fees or creditors.

 

Without an estate plan, the state decides how your property is distributed. A court-appointed administrator will follow state laws, which may result in assets being auctioned off to cover expenses. This could leave your loved ones with less than you intended.

 

A good estate plan provides peace of mind by allowing you to:

• Choose who receives your assets and how much.

• Assign guardians for minor children.

• Create a healthcare directive to communicate your medical wishes.

• Protect your family from unforeseen costs or disputes.

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Why Choose Hector Perez for Trust and Estate Planning?

At the Law Offices of Hector C. Perez, we understand the importance of planning for the future. Hector offers personalized trust and estate planning services designed to protect your assets, minimize legal expenses, and preserve family harmony.

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Whether you’re establishing a trust to safeguard property for loved ones, contesting a trustee’s actions, or creating a detailed estate plan, Hector provides expert legal guidance tailored to your unique needs.

Take control of your future today. Contact us to schedule a consultation and start planning with confidence.