Estate Planning, Living Trusts, Wills

California Living Trusts

Living Trust California

TEAM Legal Document Services provides professional California living trust and estate planning document preparation, including living trusts, wills, powers of attorney, and related documents.

  • THE REVOCABLE LIVING TRUST creates the trust entity and is tailored to meet the unique needs of your family and circumstances.
  • THE POUR OVER WILL automatically transfers any remaining assets or property not previously transferred into the trust.
  • THE DURABLE POWER OF ATTORNEY for financial affairs gives you peace of mind to know the person you designate will manage your affairs during periods of incapacity.
  • THE DURABLE POWER OF ATTORNEY FOR HEALTH CARE allows you to appoint a person to make important decisions about your medical care, including your right to withhold certain medical treatments in certain circumstances.
  • THE LIVING WILL (a separate document in some states) is an optional document that formally expresses your wishes to forgo extraordinary medical treatment when you become terminally ill.

WHAT IS ESTATE PLANNING?

Whether you are single or married, a revocable living trust can be an important part of an estate plan. A properly prepared and funded living trust can allow assets held in the trust to pass to your beneficiaries without going through probate.

With a revocable living trust, you generally retain control of the assets placed in the trust during your lifetime. You can specify who will receive those assets after your death and, while you are living and have capacity, you can generally amend or revoke the trust.

According to a respected California law firm, there are several circumstances when an individual might want to create a living trust.

  1. NO PROBATE. A Living Trust can avoid the court-supervised administration of distributing your assets and paying your debts. In many cases, a court-supervised administration of your estate at your death is simply not necessary.
  2. NO DELAY AND NO ATTORNEY FEES. Since the estate will not be going through the Probate process, your beneficiaries will have access sooner to the estate proceeds without the need for attorney assistance.
  3. PRIVACY. A Living Trust is not a matter of public record or on file with the court.
  4. TAXES. A Living Trust has much more flexibility in saving taxes than does a simple will.

LIVING TRUST DOCUMENT PREPARATION

TEAM Legal Document Services provides self-help living trust document preparation services. We prepare documents based on the information and decisions you provide. We are not attorneys and do not provide legal advice.