Drafting a Trust In Sunnyvale, California

Find the right Drafting a Trust attorney in Sunnyvale, CA

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

Trusts can serve any variety of purposes. They can be set up to guarantee 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.

A trust can make as many or as few allowances as the person creating it wants. For instance, a trust could be set up which allows the beneficiary to spend the money on educational expenses, and nothing else.

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 allowing the beneficiary to spend as much of the money in it as they like, on anything. Of course, in such a case, the trust fund might not last very long, particularly if the beneficiary is a younger person.

What to Include in Any Sunnyvale, CA Trust

There are 4 things that have to be present in every trust for it to be legitimate in Sunnyvale, California. First, the trust must have a stated purpose. Whatever purpose you intend the trust to serve, you should make it very clear when drafting the document.

Second, the trust must further name a trustee. The trustee is the person who is actually going to administer the trust, and has possession and control of the property while it is the subject of the trust.

The third required element to make a valid trust is the beneficiary or beneficiaries. Because a trust, by definition, is set up to benefit someone or something, that entity must be identified in the trust. Nonetheless, if the person(s) meant to benefit from the trust do not yet exist, they can still be legitimate beneficiaries, as long as they are part of an identifiable class of people, and can be easily identified if they are born. For instance, you could set up a trust to benefit your grandchildren, even if you don't actually have any grandchildren yet.

Lastly, and perhaps most notably, the trust requires a "body." The body of a trust is the thing (usually, but not always, money) that is actually being held in trust, and therefore overseen by the trustee, and utilized to help the beneficiary.

Can A Sunnyvale, California Trust Drafting Attorney Help?

While its' easy to list the basic elements that need to be present for a trust to be valid, the actual process of setting up a trust can be a little perplexing. For that reason, seeking the counsel of a reputable Sunnyvale, California attorney to help you set up a trust is probably a good idea.

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Life in Sunnyvale

Sunnyvale, California is a major city in the Silicon Valley of the San Francisco Bay Area. It has a population of 140,000 and is an important contributor to the field of high-tech electronic and digital technology. Sunnyvale is home to several major high-tech companies, and consistently ranks as one of the safest cities in the entire country.

As early as the 1960's, major corporations have been moving to Sunnyvale, California to participate in the digital and electronic boom centered in the Silicon Valley. Companies such as Yahoo!, Advanced Micro Devices, and Palm, Inc. are headquartered in the city. Steve Wozniak, co-founder of Apple, grew up in Sunnyvale, where he was exposed to the innovation and technology in Silicon Valley.

Sunnyvale is an unique city in that it maintains a Department of Public Safety. This department is a single, unified body that trains all personnel to operate as police officers, firefighters, and emergency medical response teams. This arrangement helps contribute to the city's low crime and overall city. Sunnyvale also holds a number of community social events that provide residents with ample opportunities for recreation.

Lawyers in Sunnyvale, California practice law in a number of fields in order to serve the unique needs of the city's businesses and residents. Sunnyvale lawyers process many legal claims at the Sunnyvale branch of the Superior Court of California, County of Santa Clara.

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