Like a Will, a Revocable Living Trust lets you direct how and to whom your property will be distributed after your death. You appoint a Trustee to manage your trust, just as an executor would manage your Will. The Trustee holds your assets and distributes them upon your passing, according to the instructions you specify in your Trust.
Unlike a Will, a Trust can also be used to direct how your property will be managed during your lifetime in case you become incapacitated. A Living Trust also legally protects your assets from going to Probate, saving your heirs time and money.
The Advantages of Living Trusts
- Save Time - Probate can often take 1½ to 2 years. Meanwhile your assets are tied up and your heirs have to get court approval to make any changes. With a Living Trust there are no courts involved in the decision-making process.
- Save Money - Probate fees are set by Statute and can often eat up 10% or more of your estate's value. With a Living Trust there is no Probate or associated legal fees, leaving the full value of your estate to be distributed to your heirs.
- Privacy - a Will is a matter of public record. Anyone can go down to the Probate Court , obtain a copy of your Will, and find out what you had and who you left it to. A Living Trust on the other hand is entirely private, so your family business stays within your family. The Will that is contained in a Living Trust is not a matter of public record because it is under the protection of the Trust.
- Disputes - Wills are often challenged in court. It is much more difficult to dispute your wishes when they are secured in a Living Trust. Our "No Contest" clause specifies that anyone who attempts to challenge your wishes shall receive nothing from the estate.
- Reduce Taxes - Our A/B clause provides for reducing or eliminating all or a portion of the estate taxes placed on larger estates by utilizing the Bypass Trust.
- Control - Your family, not the Probate Court, has control over the settlement process with a Living Trust. Furthermore, should conservatorship ever be required, our Living Trust documents provide for it without the necessity of going to court. You do not give up any rights or privileges by creating a Living Trust - anything you could do before you can still do, including revoking the Living Trust should you ever wish to do so.
What Does a Complete Living Trust from Senior American Include?
- Abstract of Trust Agreement
- Certificate of Trust
- Revocable (A/B) Living Trust
- Pourover Wills
- Durable Power of Attorney, Financial
- Durable Power of Attorney, Health
- Directive to Physicians (Living Will)
- Instructions to Successor Trustee
- Personal Property Gifting Instructions
- Final Instruction Letter(s)
- Quitclaim Deed Prepared & Recorded
- Notarization and Witnessing
- Homestead (optional at no additional charge)
- Support Documents/Amendments
- Schedule "A" (Asset Summary)
- Trust Prepared and Certified by an Attorney
- Free Lifetime Support & Free Revisions
Our Trusts are not "do-it-yourself kits." We do ALL of the work including complete funding of your Living Trust.
All Living Trusts are not the same. Our complete Revocable Living Trust package is one of the best values in the industry. Call us today for a complimentary consultation to review the Living Trust and answer your questions. There is no cost or obligation!
Trusts are offered through Heritage Tax and Insurance Services, Inc. and are available to California residents only.