Drafting a Trust In Pomona, California

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In Pomona, 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.

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

Because you, as the trustee, can determine the rules under which the trust operates, you could give the beneficiary the right to access the fund at any time, for any reason, basically letting them do whatever they want with the money, if that's what you want to do.

What to Include in Any Pomona, CA Trust

There are 4 distinct elements that must be present for any trust to be valid in Pomona, California. The first element is the purpose - in drafting a trust document, the purpose that the trust is serving must be stated.

Second, there must be a trustee. This is the person who will administer the trust, and retain possession of the property or money that it contains, as well as being responsible for using it to effectuate the trust's purpose.

Third, the trust needs to have a named beneficiary. The beneficiary is the person who benefits from the trust.

Fourth and finally, there must be some money or property which is really 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 really exist, and it must be identified.

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Can A Pomona, California Trust Drafting Attorney Help?

While it's not difficult to understand the basic requirements of a trust, actually creating a trust can be a bit more difficult. Therefore, it is advisable to contact a brilliant Pomona, California attorney to help you set up a trust.

56 Wills, Trusts and Estates cases posted to LegalMatch lawyers in Pomona

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Life in Pomona

Pomona, CA is a city in Los Angeles County, California. It has a population of approximately 150,000, making it the 4th largest city in Los Angeles County. 

Pomona was first settled in the 1830s, when the territory was still part of Mexico. The first Anglo-Americans arrived just a few years prior to the signing of the Treaty of Guadalupe-Hidalgo, which resulted in California becoming part of the U.S.

Modernly, Pomona is perhaps best known for being home to the Fairplex, which hosts the annual L.A. County Fair. Pomona, CA is also known for the Pomona Raceway, which is a major hub for competitive drag-racing.

Like many cities in the Inland Empire region, the economy of Pomona, CA is heavily based on services, education, and healthcare. In Pomona, one of the largest employers is the California Polytechnic University, Pomona. Some of this school's graduates go on to law school, some of whom become successful lawyers in Pomona, CA.

Because Pomona has a well-educated populace and a diverse economy, the local legal profession is quite sophisticated for a town its size. This means that a Pomona, CA attorney can probably help you with whatever legal issues you're likely to face.

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