Drafting a Trust In Lomita, California

Find the Right Lawyer Now

In Lomita, California, a trust is an arrangement in which property is held by one person (the trustee) for the benefit of another (the beneficiary).

Trusts can serve any number of purposes. They can be set up to ensure that the child has a college fund, or to see that the beneficiary's basic needs are met, without the money being spent on frivolities.

If you want to set up a trust, you can make the beneficiary's use of the property as restricted or as permissive as you like. As a simple example, you might want to dictate that the beneficiary can only use the money for emergencies, or for basic living expenses. If the trust is carefully drafted, this is entirely feasible.

A trust could, of course, be much more permissive, if the creator of the trust wants it to be. You could set up a trust authorizing the beneficiary to spend as much of the money in it as they like, on anything. Of course, in such a situation, the trust fund might not last very long, especially if the beneficiary is a younger person.

What to Include in Any Lomita, CA Trust

To set up a valid trust in Lomita, California, 4 elements are required. First, the trust must have a stated purpose, and this purpose must be clearly laid out in the documents that establish the trust.

Second, every trust, to be valid, has to assign a trustee. This is the individual or other entity (such as a corporation) who oversees the property that embodies the trust. They possess and control the property, and are responsible for seeing that it is used according to the purpose of the trust.

Third, the trust also has to name a beneficiary. This is the person or entity (such as a charitable organization) who is going to benefit from the trust.

Fourth and finally, there must be some money or property which is directly going to be held in the trust. This property is referred to as the "corpus" (body) of the trust, and can be just about anything. However, it must truly exist, and it must be identified.

Find a Lomita Lawyer that Specializes in Your Area of Need:

Can A Lomita, California Trust Drafting Attorney Help?

While it's fairly easy to list off the basic requirements for a valid trust, actually creating and implementing one can be fairly complex. Therefore, you should probably seek the help of a Lomita, California attorney if you wish to set up a trust.

9 Wills, Trusts and Estates cases posted to LegalMatch lawyers in Lomita

Drafting a Trust Attorneys in the Largest CA Cities

Show California Cities

Drafting a Trust Lawyers in Other California Cities and Towns


Find the Right Lawyer Now

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

Business - Transactional Lawyer
LegalMatch Business - Transactional Lawyer Max M.

Max M.

NELSON, VA

Business - Transactional

Rating (1 users) *****
See Reviews
Employment and Labor Law Lawyer
LegalMatch Employment and Labor Law Lawyer Roman O.

Roman O.

Los Angeles West, CA

Employment and Labor Law

Rating (1 users) *****
See Reviews
Employment and Labor Law Lawyer
LegalMatch Employment and Labor Law Lawyer Frank M.

Frank M.

MANATEE, FL

Employment and Labor Law

Rating (4 users) ****
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer Barry T.

Barry T.

HILLSBOROUGH, FL

Criminal Law

Rating (1 users) *****
See Reviews

Need a Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now: