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What is a Living Trust?
Revocable Living Trusts, also referred to as revocable inter vivos trusts (“inter vivos” is Latin for “between the living”), are an increasingly popular way to hold title to assets and avoid the Probate Court process. It is anticipated many more Americans will use a Revocable Living Trust in the years ahead.Read More
What is in a typical Estate Plan?
When one has an Estate Plan, and more specifically, a Revocable Living Trust, it is important that that Estate Plan be administrated. In other words, an administrator is the person that is nominated in the Living Trust document to manage the Trust.Read More
What is Probate?
Due to the fact, at least in the state of California, if you own real estate, you will be required to court-supervised Probate. Probate is a lengthy, costly, bureaucratic, court process, which the majority of Californians will have to go through. There is an option to avoid Probate, and that is the Estate Plan which would include a Living Trust.Read More
What is Estate Planning
Do you need Estate Planning?
What is Probate
Living Trust Attorney El Cajon
Welcome to The Lawyer In Blue Jeans Group! We are a San Diego-based law firm helping families in El Cajon and surrounding communities navigate Estate Planning and Probate Law – this is our entire focus!
You might be asking yourself, “If one has a Will, why would one consider a Living Trust?”. The short answer is two-fold: 1) both options transfer an estate to heirs, but only a Living Trust can bypass Probate Court and 2) a Will takes effect, only, upon death but a Living Trust may be used by the Trust creator during his or her life and would continue to be used once the Trust creator passes.
Most El Cajon clients come to us unaware of how important it is to have a Living Trust in place. Without it, the decedent’s loved ones must deal with the harsh, raw realities of Probate which include predictably exorbitant expenses, time-consumption, frustration, and waiting, waiting, waiting – perhaps years – to possibly receive any asset distribution by the Probate Court.
Our Living Trust attorney team provides El Cajon families with assurance, guidance, and support on how they can avoid the Probate nightmare through the creation of a Comprehensive Estate Plan which would include a Living Trust. If a person dies with or without a Will and does not have a Living Trust, the Probate process begins immediately.
Avoid Probate with a Living Trust
The Probate process is detailed, and it manages a decedent’s Will if there is no Living Trust. Probate can be a long and stressful haul – usually a minimum of one year, up to several years. During this time, potential inheritors have no legal access to the decedent’s bank accounts, property, or other assets which will have been seized and frozen by the courts. Once the Probate process comes to a final ruling, asset division and distribution to beneficiaries will have been determined by the state.
When families in El Cajon have a Living Trust in place, the waiting, worrying, stress, expenses, and court involvement associated with Probate will never rear their ugly heads. Once you are gone, a Living Trust allows your assets to be made available, quickly. No one is left dealing with the courts, and your legacy remains fluid to benefit those you love.
Benefits-Summary of Hiring a Living Trust Attorney
El Cajon clients benefit, greatly, when a Living Trust attorney becomes their powerful legal counsel. A Living Trust offers several important advantages over a traditional Will. Those benefits include:
- Cutting costs: California is known for its exorbitant Probate costs which can be as high as 5% or more of the gross value of the estate. All property that has been transferred into a Living Trust avoids Probate.
- Saving time: It is not uncommon for a Probate proceeding to stretch out over several years. Contrast that with a Living Trust procedure where the transfer of property to named beneficiaries can take place in a matter or months, or less.
- Assuring Privacy: Probate proceedings are open to the public, at any time. On the other hand, details involving a Living Trust are accessible to only your beneficiaries and heirs.
- Avoiding multiple-state issues: If you own property in more than one state without a Living Trust, separate Probate proceedings must be conducted for each state. This means additional costs and additional personal time must be expended, not to mention delays of the Probate process. With a Living Trust, all assets – regardless of where they are located – are placed in one Trust. Multiple Probate proceedings are avoided.
- Discouraging legal challenges: Typically, a Living Trust is much more difficult to challenge than a Will. Any interested person may contest a Will at the initial Probate Court hearing. Contesting a Living Trust, however, involves a costly and time-consuming process that discourages most people from initiating a challenge.
- Protecting during disability: If, for whatever reason, you become incapable of managing your affairs – buying or selling property, withdrawing funds, paying bills, etc. – a Comprehensive Estate Plan ensures your successor trustee can manage your assets until you regain your health.
Our Living Trust Attorney team is available for families in El Cajon when it’s time to draft a Proper Estate Plan that includes a Will, a Living Trust, an Advance Healthcare Directive, and a Durable Power of Attorney.
Connect with a Living Trust Attorney, Today
Families in El Cajon can connect with our legal team in various ways:
3990 Old Town Avenue
San Diego, CA 92110