Revocable Living Trust
A Living Trust is a planning technique that offers benefits to virtually all Californians. It is particularly appropriate for individuals who are older or who have substantial assets. If you own a home in California, a living trust makes sense for you.
In a very real sense, a Living Trust is a new being. It will hold your property while you are living, and it will continue in existence after your death.
A Revocable Living Trust presents numerous benefits through the avoidance of probate and allows for management of your property during life. Costs of trust administration and delay in the administration of your estate will be dramatically reduced as the court can be completely bypassed. Additionally, a trust provides privacy to you and your family by avoiding disclosure to the public of your assets and their distribution. Moreover, a trust provides you the opportunity to minimize estate taxes.
Wills
A will provides for the distribution of your assets. While less costly then a trust, it is subject to the expense and delay of probate. It will be up to the court to carry out your wishes as stated in your will. |
