A California Revocable Living Trust is an excellent way to protect your assets, ensure their proper distribution upon death, avoid leaving your estate subject to probate court proceedings, and even realize certain tax advantages.
At Howard Law, our comprehensive law practice, which includes a thriving estate planning department in addition to business litigation and other types of law, is well-suited to providing you and your family with comprehensive estate planning. Our Los Angeles estate planning attorneys provide revocable trust planning throughout the Los Angeles area, including Anaheim, Santa Ana and Riverside.
In California, any estate valued at more than $100,000 is subject to probate court, which will open your estate to public viewing through the court system and subject it to additional court and attorney fees. Most working families who own a home will have an estate that crosses this threshold. Transferring your property into a living trust will not subject it to re-evaluation under Proposition 13 and distribution of assets through a living trust will not be subject to probate court upon your death.
With a revocable trust, you can not only remain in control of your assets (as the trust administrator) but, as the title suggests, you can revoke the trust at any time. Such trusts are a great way to ensure your home and other assets remain protected throughout your life and are distributed in accordance with your wishes after your death.
Hiring an experienced trust attorney will allow you to establish the trust, outline who will administer it in the event you die or become incapacitated, detail who will receive trust assets upon your death, and plan for funding the trust by transferring property and other assets into trust ownership. Additionally, because you (or a designated trustee) remain in charge of the trust, changes and additions can be made as needed to accommodate marriages, divorces, births, deaths, changing assets or other life events.
Upon death, your trustee will carry out the instructions set forth in the trust, including the distribution of assets to named beneficiaries. And, while your trust will be subject to taxation, an experienced and qualified attorney can advise you on options to reduce or even eliminate certain tax exposure.
The Los Angeles revocable trust attorneys at Howard Law understand the importance of properly protecting your assets and the future financial well-being of your family and we believe anyone dealing with estate-planning issues deserves immediate access to skilled legal representation. Call today for a free and confidential appointment to discuss your rights.
CALIFORNIA REVOCABLE TRUST LAWYERS - Call (800) 872-5925 - Howard Law