Drafting a Trust In Redwood City, California

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In Redwood City, 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 authorizes the beneficiary to spend the money on educational expenses, and nothing else.

Because you, as the trustee, can decide 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 Redwood City, CA Trust

To implement a trust in Redwood City, California, 4 things are required. The first is purpose - the trust must be set up to serve some sort of objective, and it must be precisely stated in the document that creates the trust.

Second, the trust needs a trustee. The trustee will have possession of the property or money that is being held in trust, and will be accountable for putting it to the use that the creator of the trust intended.

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

Lastly, the trust needs to have a corpus, or body. The "body" of the trust is the property that benefits the beneficiary, and that the trustee oversees. Obviously, there can be no trust without something being held in trust.

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Can A Redwood City, 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 intricate. Therefore, it is advisable to contact a seasoned Redwood City, California attorney to help you set up a trust.

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Life in Redwood City

Redwood City, California is a city in San Mateo County, on the San Francisco Peninsula. It has a population of about 77,000 people, and is the county seat of San Mateo County.

Redwood City, California is one of the major hubs of employment in the South Bay region of the San Francisco Bay Area, particularly in the high-tech sectors. Technology companies like Oracle and Electronic Arts are headquartered in Redwood City, and they provide a major source of employment, in various fields. Both of these companies employ a large number of white-collar professionals, probably including several Redwood City, California lawyers.

Other major employers in Redwood City, California are the government of San Mateo County, as well as several major players in the healthcare industry, such as Kaiser Permanente.

If you live in Redwood City, California and are in need of a lawyer, you're in luck. A significant number of attorneys in Redwood City are set up to handle the legal issues that often arise for ordinary consumers.

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