- A Living Trust avoids Probate in California. Probate is the court process of distributing a person’s estate after they die. Depending on the estate, as well as the assets and individuals involved, probate can become a lengthy and costly process, which may not only delay distributions to your beneficiaries but also cut down on what they inherit.
- A Living Trust may save you money. A Living Trust can help avoid or reduce estate taxes, gift taxes and income taxes, too. Your tax savings can amount to hundreds of thousands of dollars or more in some circumstances.
- A Living Trust allows you to make decisions while you are still living. You are able to decide who manages your affairs after your death and who will receive your assets.
- A Living Trust is Private. A living trust is a private document between the parties involved and does not become part of the public record. In other words, no one can later go and search public records to find out more about the distribution of your estate. A will, on the other hand, is public record, so everything in it becomes public as well.
- A Living Trust may provide Peace of Mind. A living trust sets out a clear plan to deal with all of your assets. This can help prevent you from unintentionally disinheriting someone, can help you provide care for a loved one with special needs into the future, and even protect assets from certain people. All of these things can give you peace of mind now, knowing that your estate will be handled exactly as you wish later. The existence of the trust can also provide certainty and comfort to your loved ones during an already stressful time because you’ve laid everything out for them.
*We are not attorneys and cannot provide legal advice. We can provide legal document assistance at your specific request.
