Understanding Living Trusts

All too often, people spend the majority of their lives working hard for the money they make, only to spend their retirement years living on a fixed income. When it comes to protecting you and your family’s financial future, it’s time to meet with trust attorney Alice A. Salvo or one of her San Fernando Valley living trust lawyers. Our priority is to provide your family assurance and peace of mind knowing that your estate plan and family wealth is protected. We want you to know that all assets, possessions and real estate are being distributed to your heirs and beneficiaries exactly as you planned.

Alice Salvo has more than 25 years of experience creating comprehensive estate plans for Los Angeles residents. Her experience has led her to handle many cases including some rather complicated large cases requiring a lawyer for a living trust.

At the Law Offices of Alice Salvo, we can set up a living trust to provide your family with the maximum financial benefit and bypass the high cost of probate. Without this trust, your beneficiaries experience a delay of one or more years before they can get their inheritance.

Work with An Experienced Trust Attorney

Living trusts are complex legal documents that require precise language and drafting. For this reason alone, it’s always a much better idea to work with an experienced trust attorney. Online forms, D-I-Y estate planning kits, and similar online documents can be disastrous and often miss key phrases, sentences, or paragraphs regarding your unique life circumstances.

We understand why some are tempted to create their own living trust. It’s an investment—at the end of creating it, you don’t walk home with a shiny new car or a fancy pair of shoes. We would argue that you get something better, however. You do get peace of mind, a newfound sense of confidence, and the knowledge that your family, assets, and future are secure.

When setting up a revocable living trust, California residents first have to decide which firm they would like to consider. As rates can vary, it’s a matter of finding one that is cost-effective, so it won’t be a drain against the money used in the trust to begin with. When looking for a living trust attorney, Los Angeles citizens can benefit from the knowledge that comes from a consultation with our highly experienced living trust lawyers.

Knowing Whether a Living Trust is Right for You

Avoid the Probate Process

One common reason families hire a California trust attorney to set up a living trust is the avoidance of the probate process. Because the property was placed in the trust during your lifetime, the property would not pass to your loved ones through probate. Why is this? Because, technically, the property won’t be held in your name or owned by you when you pass—rather, it will be owned by the trust. However, when you pass, it then becomes an irrevocable trust which can’t be changed or altered, keeping it safe and secure for your family’s financial future.

Plan for Incapacity

The California Living Trust offers a method to plan for incapacity. Once you create your trust, you can name yourself as a trustee. In addition, many clients name a successor trustee to manage and control their assets in the event they become incapacitated. When you name a successor trustee, you are ensuring that someone you know and trust will handle your assets diligently and competently when you cannot do so yourself. Furthermore, this power is given to the successor trustee automatically if you become incapacitated, which rules out the need to get the court system involved. Don’t worry—if you ever need to change the successor trustee, you have the flexibility to do so. Finally, you can define what “incapacity” means in your trust documents, which allows you to choose the conditions that trigger a successor trustee takeover.

Control and Flexibility

A living trust allows you to have more say over when and how your assets are allocated to your beneficiaries. Specifically, it allows you to include terms and conditions that must be met before your property goes to any one of your beneficiaries. For example, if you have a child and want the trust assets to be used for a specific purpose (such as college or other continuing education), you can set the schooling as a condition precedent to them receiving their inheritance. Another common reason clients place parameters within a trust is to preserve the assets within it and ensure their beneficiary does not spend their share irresponsibly. Another benefit of creating a living trust is that they’re highly flexible. You can easily modify the trust with the help of a trust attorney if your estate planning priorities, goals, or relationships change.

Plan Ahead with The Help of a Trust Attorney

If you’re living out your golden years in the Golden State, for the financial security of your family, consider setting up your estate plan with a living trust attorney. California residents can expect the best from Alice A. Salvo, because she will make sure that your money is safe and your family provided for, even after your passing – allowing you to spend your time comfortably and worry-free.

When you set your trust up with a complete estate plan at the Law Offices of Alice Salvo, it includes the following estate planning documents:

  • Living trust
  • Advance health care directive
  • Durable power of attorney
  • Will
  • Assignment agreement
  • Funding letter
  • Trust transfer deed
  • Preliminary change of ownership report

There are occasions when people do not plan ahead for the distribution of their assets. When this unfortunate situation occurs probate court becomes the way to handle the problems of transferring assets to heirs. Hopefully, you have taken care of your family all your life, and getting a lawyer for a living trust is very important to ensure they are well cared for upon your passing or the passing of your spouse.

Take Care of Your Family and Contact A Living Trust Attorney Today

Let our Los Angeles living trust lawyers assist your family to avoid uncertainty by utilizing our living trust services. When doing this in conjunction with an estate plan you will be able to decide how your assets are distributed, set up healthcare directives and more. Have you ever wondered what the best way is to get your affairs in order? If you are a homeowner we encourage you to have us draw up a living trust as soon as possible. Our lawyers will create a comprehensive plan and take into account all the needs of your family’s special requirements.

For those requiring a living trust attorney in Los Angeles, throughout Los Angeles County, Ventura County or the San Fernando Valley, simply call with any questions or concerns. Call 818-676-9572 or use our online contact form to schedule a free initial consultation.