What A Revocable Living Trust Can Do For You And Your Family
Well-thought-out estate planning can be one of life’s greatest bargains. The old saying, “An ounce of prevention is worth a pound of cure” certainly applies in the area of estate planning. Most people understand some of the reasons a will is important for every adult to have. Trusts are not as readily understood – perhaps because of the various kinds of trusts and their different applications. Trusts allow many families to move forward after a death much more smoothly than in cases where there is only a will.
A Popular Type Of Trust – For Good Reasons
You may have heard that a trust will keep your estate out of probate. This is often the case in California. (It is also important to have a pour-over will to account for assets not included in your trust.) A revocable living trust may accomplish the goals you have in mind. It will allow your spouse, child or another named trustee to take control of your assets much more quickly and simply than in the case of assets that go through probate.
Many people appreciate the features of a revocable living trust because:
- You can keep control of your assets during your lifetime.
- You can revoke or change the trust anytime.
- You can spell out your wishes about how you want your assets distributed after death.
What Brought You To This Web Page Today?
You may be preparing to create a comprehensive estate plan. Or you may want to add a trust to other existing testamentary documents. In either case, an exploratory conversation with an estate planning lawyer is an important starting place. The Gostanian Law Group welcomes the opportunity to discuss the benefits of a revocable living trust.
Contact our law firm in Newport Beach for more information. Our experienced attorneys are interested in helping you put an effective estate plan in place. We offer free, initial 30-minute consultations to identify your issues and objectives.