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What Is A Living Trust? A Living Trust is a legal document that resembles a will. It contains instructions for the management of assets should one become disabled and gives the directions for distribution of assets upon death. Once the trust is created, the titles to assets are changed from the name of the individual to the name of the trust. Taking the individuals name off of title and replacing it with the name of the trust is what insures that the asset will avoid probate. Because the individual is the creator of the trust (trustor) and the manager of the trust (trustee) and while alive the beneficiary as well, one gives up nothing. People can still do everything after creating and putting their assets in a Revocable Living Trust, as they could before. Revocable means that changes to the trust can be made anytime before death. Not only your real estate, but your investments, bank accounts, timeshares and businesses will go through Probate if cumulative value is over $100,000.
	Do You Own A Home? In California any real estate valued over $20,000 will go through Probate without a Living Trust (upon the death of the last joint tenant or immediately if single).
Probate Probate is like jail. It takes 9 months to 2 years or more before your assets can be released and your beneficiaries can receive their inheritance. Probate costs can be 8% to 10% of the gross value of your estate. Example: You have a $500,000 gross estate. The cost could be as much as $50,000 to your heirs. Married couples can pass up to 3 million dollars to their beneficiaries' estate tax free if they have a Living Trust. (1.5 million if they do not have a Living Trust). If you set up a Living Trust your affairs will be private. Your estate can be settled in 1-3 weeks and your beneficiaries can receive their inheritance. Should you become incapacitated, the Living Trust will allow for the people that YOU choose to take care of your financial and health decisions, not the courts!
Will=Probate In California, people who die with a will insure that their beneficiaries experience the delay, cost and publicity (public record) of probate. Will = Probate. If an individual dies who owns $20,000 of real estate or has $100,000 of other assets their heirs will go through the probate process.
	Who Controls Your Assets? Your trust is written to enable you to do anything you want with your assets. When all assets are in a living trust upon death, probate is avoided completely. All assets are disposed of quickly, efficiently and privately with the least amount of cost, trouble and time. Remember that one of the main functions of probate is to transfer title. With assets in a living trust, there is nothing in an individuals name to be transferred, and therefore, there is no need for the time, cost or publicity to be involved. Control of the asset stays with you, as trustee. The trust owns the assets not the individual
To Sum It Up: If you are single or married owning real estate If you are single or married with minor children If you are single or married with a gross estate above the Probate limit of $100,000 If you are in a "second marriage" and want to protect your children's inheritance If you own a Business If YOU desire to be in control of the assets held "in trust" after your death so that they will be distributed according to your desires Then You Need A Living Trust! Do this for your Family There is no better Gift you can give ! Click Below To: