Trusts Attorney In Colorado & California

No matter what your age may be, it is always a good idea to begin planning for your estate as soon as possible. A trust is one of the most effective ways to do so. It is concerning that less than 60% of Americans recognize the importance of having a will or trust in place. Whether you are considering adding a trust to your current estate plan or are just starting to explore your options, the experienced team at The Heritage Law Group is here to assist you in organizing your assets and providing for your loved ones.  Additionally, we can offer valuable guidance and support as you navigate through the complex legalities of estate planning.

Contact The Heritage Law Group to schedule a consultation with a lawyer today. 408-925-0146

types of Trusts

  • Revocable Trusts: As the name suggests, a revocable trust can be revoked at any time during its lifetime. These are also commonly referred to as “living trusts” because they can be modified while you’re still living. Revocable trusts are preferable to those who still want control over their assets during their lifetime with the ability to add, modify, or permanently dissolve them if needed. They also avoid probate, getting your assets allocated more quickly and at a lower overall cost.


  • Irrevocable Trusts: These trusts may not be modified or dissolved after they’ve been filed. You can move new assets into the trust, but once they’re in you can’t undo it. These trusts are preferable for people who need to protect certain assets, especially from tax liability.

The process of creating a Trust

Creating a trust is a relatively simple process. While there are online platforms available to assist with this task, it is important to exercise caution when using these services. A carefully constructed and well-drafted trust is crucial in safeguarding the proper distribution of your assets according to your desires, while also significantly minimizing the possibility of conflicts arising. Inaccuracies or omissions in the trust document can potentially lead to complications and complications for your beneficiaries. Elements of creating a trust include:

  1. Choosing an Advisor: The first thing to do is hire a trusted attorney with experience in estate planning. Your attorney can help you choose the right type of trust for your needs.
  2. Organizing Your Assets: The next step is to inventory all of your assets and decide what you want to include in the trust and what you can leave out.
  3. Designating a Trustee and Beneficiaries: The trustee can be yourself or another individual (or couple) who will be responsible for managing your trust and you can name any number of beneficiaries.
  4. Drafting the Trust: You’re now ready to draw up the trust as a legal document and sign it.
  5. Transferring Assets: Transfer property or assets into the trust.

Why Having a trust is important

  • Bypass probate: Most assets in a trust don’t go through probate since your estate is already managed by someone other than you (the trustee). With a standard will, your assets need to be inventoried, assessed, and then distributed under the guidance of a court.
  • Assets can be kept in trust until a future date: A trust will remain in effect after your death and can hold onto assets for minor children until a predesignated age.
  • Protection in cases of mental incapacitation: If you become incapacitated and no longer able to speak, a trust can give someone power of attorney to make financial and health-related decisions on your behalf.
  • Private: A will becomes public record upon your death, meaning the value of your estate and any financial holdings will be accessible by anyone. A trust will remain private even after you die.

choosing a trustee and beneficiaries

If you designate yourself as the trustee of your estate, it is important to also select a successor trustee to take over the role after your passing. This individual should be someone whom you have complete confidence in and trust to fulfill your wishes as outlined in your estate plan. Typically, a family member or close friend is chosen for this role, but it can also be an attorney or financial advisor who has a thorough understanding of your goals and objectives.



In some cases, you may have multiple beneficiaries in your estate. In these situations, it may be necessary to designate a primary beneficiary as well as one or more secondary beneficiaries. When selecting a primary beneficiary, many individuals choose their spouse, but it is important to consider someone who is likely to outlive you and who has the capacity and willingness to carry out your wishes. This person should also possess the necessary mental capacity to fulfill their role as trustee.

Contact Us Now
Share by: