12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Do I Need a Living Trust in Zip Code 90043

Do I Need a Living Trust in Zip Code 90043


Never say you know a man until you have divided an inheritance with him.
 
- Johann Kaspar Lavater


A Living Trust refers simply to a property-owning legal entity you create while alive.

What is a Living Trust?

A Trust is an agreement whereby one person called the trustee can hold legal title to property for another person called the beneficiary. Having your own living trust and be the trustee of the same is possible. You will be responsible of keeping control over all property held in trust.

Does a living trust go through probate?

No, a revocable living trust does not go through probate after you die. The successor trustee you have appointed will just transfer ownership to the beneficiaries you have mentioned in the trust. The whole process usually takes only a few weeks with no court fees or lawyers to pay. If the transferring of property is done to the beneficiaries, the living trust will no longer exist.


Is Living Trust expensive to make?

No, a revocable living trust is not that complicated to make and you will find that it is fast, easy and affordable at 12Law.

Is it a hassle to hold property in a living trust?

No, you won't need a lot of paperwork and administrative hassle to create a living trust, unlike the experience when you transfer a property directly to a beneficiary.

Is a living trust document ever made public like that of a will?

No, the terms of living trust are not divulged to the public, which is a benefit when compared to a will.


Does Living Trust provide protection from creditors?

No. A creditor who wins a lawsuit against you can go after the trust property and claim it as payment for what you owe.

Does a living trust protect property from creditors after I die?

Generally, after you die, all property you owned including assets held in a living trust is subject to your lawful debts. A creditor who wins a lawsuit against you can go after all the properties under your name and claim it in behalf of what you owe. However, since the living trust is not a public document, creditors will have a difficult time identifying who has inherited your properties.


If I make a Living Trust, do I also need to make a will?

Yes. Your will serve as an essential back-up document for the properties you were not able to transfer to yourself as a trustee. If you have a will, it will clearly state where those properties will go. In the absence of a will, your properties will go to the closest relative in an order determined by the state law.

Can a living trust reduce estate taxes?

A simple probate-avoidance living trust has no effect on state or federal estate taxes. Deaths occurred in 2014 with estates valued at more than $5.34 million will pay federal estate tax. This amount is indexed for inflation and will go up in the future. Most estates in the US are less than the $5.34 million personal exemption.

 
Personalize & Print a Free CA Living Trust Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Related Legal Services near Zip Code 90043
Gloria & Son
4641 Crenshaw Blvd
Los Angeles, CA 90043
(323) 292-9330
Paralegals, Legal Document Assistance
Professional Business Svc
4708 Crenshaw Blvd # 204
Los Angeles, CA 90043
(323) 291-7274
Attorneys Support & Service Bureaus
Cole Legal Doc Prep & Notary Public
5838 Overhill Drive, Ste. #2
Windsor Hills, CA 90043
(323) 642-7003
Legal Forms, Legal Document Assistance, Paralegals, Typing Service, Notaries Public
Clark Efrem A
3210 W 54th St
Los Angeles, CA 90043
(323) 295-6637
Attorneys Referral & Information Service, Attorneys
Your Legal Secretarial Services
4428 W Slauson Ave
Los Angeles, CA 90043
(323) 299-6426
Secretarial Services,  Legal Document Assistance,  Estate Planning, Probate, & Living Trusts,  Div
Brooks & Bratton
4539 W 62nd St
Los Angeles, CA 90043
(323) 291-6018
Paralegals
Laws Transitional Housing
2707 W 54th St
Los Angeles, CA 90043
(323) 294-5204
Paralegals
Law Support Center Inc
2707 W 54th St
Los Angeles, CA 90043
(323) 294-5204
Paralegals
Crown Jewel Sports Management
4827 Escalon Ave
Los Angeles, CA 90043
(323) 389-5103
Attorneys Referral & Information Service, Attorneys
Leslie R Smith Law Office
5349 Crenshaw Blvd
Los Angeles, CA 90043
(323) 290-4091
General Practice Attorneys, Attorneys
Metro Legal Assistance of La
5015 S Verdun Ave
Los Angeles, CA 90043
(323) 815-1646
Paralegals, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US