side

Trusts
What is a living trust?
A legal entity that you create and manage, which is capable of owning property.
  • What are the two main reasons that I should have a living trust?

    1. Avoid probate
    2. Potentially reduce estate taxes
  • What is probate?

    Probate is the legal process that takes inventory of the deceased personís property, appraises the property, pays the estateís debts, validates the will, and distributes the property according to the will.
  • Is probate expensive?

    Yes. While estates in California not exceeding $150,000 need not be probated, the probate fee on a $200,000 estate would be $14,000. Therefore, if you own a home you will save money by establishing a living trust
  • Is probate time consuming?

    Yes. A typical probate can last to 1 1/2 to 2 years, and possibly longer. This means that your beneficiaries will have to wait a long time before receiving the property you left for them.
  • What is the current estate tax exemption?

    $11.2 million per person. This means that the first $22.4 million of assets for a married couple can pass to their beneficiaries free of federal estate taxes.
  • How much will I pay for a living trust?

    $1,299 to $1,999.
    This amount includes a living trust, pour over will(s), durable powers of attorney for finances, advance health care directives, deeds to transfer real estate, letters to your financial institutions, and other documents to fund your trust. We also prepare amendments to your trust at no additional charge. Therefore, a living trust will provide significant savings when compared to probate and estate taxes.

To request a Trust Workbook, click here

 

-Free Trust Workshops-

 

The material on this web site is provided for informational purposes only and does not constitute legal advice. Do not base any legal decisions on the information in this web site. Transmission of the information contained in this web site is not intended to create and receipt does not constitute an attorney-client relationship. No attorney-client relationship is established until we agree to act as your attorney. Do not share confidential information with us unless you have retained our services as your attorney.