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The most common type of trust is a revocable living trust. The settlor is the person who creates the revocable trust. It is essential to know that under a revocable trust, the settlor is also the trustee. Once the revocable trust is established, the settlor transfers assets to the trust.

The most common type of trust is a revocable living trust. The settlor is the person who creates the revocable trust. It is essential to know that under a revocable trust, the settlor is also the trustee. Once the revocable trust is established, the settlor transfers assets to the trust.

The most common type of trust is a revocable living trust. The settlor is the person who creates the revocable trust. It is essential to know that under a revocable trust, the settlor is also the trustee. Once the revocable trust is established, the settlor transfers assets to the trust.

Too many people make the mistake of believing that merely having a will is enough to avoid probate – it is not. The value of assets exceeding $150,000 is enough to trigger time-consuming probate. And even a single asset that has not been accounted for can require probate. The laws become even stricter when real property is involved. A home left to someone thru a will alone will result in the full probate of that will before the home can pass.

Probate is a trap for the unwary. It can ensnare one’s estate upon death even for uncontested wills. This can plunges the estate into a slow and costly probate process. While this process is foreign and confusing to a layperson, it is a boon to the pockets of estate lawyers.

Once a living trust is established, then specific steps are taken to fund the trust. You can also use beneficiary designations. The property will pass outside of probate. Some misunderstand that everything you own should be retitled to trust. An attorney will properly guide you through the funding process.

There are many ways that assets can be handled to achieve the objective of a probate free world for your intended beneficiaries after your death. A living trust is the best mechanism to avoid probate in California. Our estate attorney can help you avoid probate in California.

Everyone wants to pay higher taxes and deplete their wealth as quickly as possible but you may not be doing that in the most efficient way. Have you been feeling overwhelmed by the size of your estate? Does it seem like you just haven’t been paying enough taxes lately?

Life is full of unexpected developments, both beautiful and challenging. When it comes to your finances, it’s best to prepare for both. Management of your finances is the place to start before you make major purchases. It doesn’t matter if you are buying a bicycle, car, or even a home. Our will and estate lawyers can help you with your plans.

Since at least the 1980’s the revocable living trust has been the preferred choice as the most efficient and flexible vehicle for passing on one’s estate in the most orderly and seamless fashion as possible. Many people make the mistake of believing that having a will alone will avoid probate.