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 92691

Do I Need a Living Trust in Zip Code 92691


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 92691
Borchard & Callahan-A Professional Corporation
25909 Pala
Mission Viejo, CA 92691
(949) 457-9505
Attorneys, Civil Litigation & Trial Law Attorneys, Business Law Attorneys, Real Estate Attorneys, Pa
Abt Gregory D
27001 La Paz Rd Ste 454A
Mission Viejo, CA 92691
(949) 452-9446
General Practice Attorneys, Attorneys
Morrison Norah M
27281 Las Ramblas # 160
Mission Viejo, CA 92691
(949) 582-7572
Attorneys, Legal Service Plans
Myava R. Escamilla
27281 Las Ramblas, Suite 200
Mission Viejo, CA 92691
(949) 413-7565
Bankruptcy Law Attorneys,  Domestic Violence Attorneys,  Immigration Law Attorneys,  Attorneys,  Fam
ChildCustodyEvaluationsOC
22984 Via Cereza
Mission Viejo, CA 92691
(949) 378-7545
Family Law Attorneys, Attorneys
The Berkley Law Firm
27281 Las Ramblas Ste 200
Mission Viejo, CA 92691
(714) 871-6440
Business Bankruptcy Law Attorneys,  Attorneys,  Legal Service Plans,  Bankruptcy Law Attorneys
Steven Zwick Law Offices
25909 Pala Suite 340
Mission Viejo, CA 92691
(949) 699-4444
Attorneys,  Malpractice Law Attorneys,  Personal Injury Law Attorneys,  Professional Liability & Neg
Mission Viejo Bankruptcy Attorney
27281 Las Ramblas
Mission Viejo, CA 92691
(949) 203-3826
Bankruptcy Law Attorneys, Business Bankruptcy Law Attorneys
Wayne Direct Insurance
27285 Las Ramblas, Suite 225
Mission Viejo, CA 92691
(800) 461-3305
Attorneys Support & Service Bureaus, Life Insurance, Insurance
Lamar & Associates Att
27281 Las Ramblas
Mission Viejo, CA 92691
(949) 367-3121
General Practice Attorneys
Full Circle Sports Mgmt
27401 Los Altos
Mission Viejo, CA 92691
(949) 348-2663
Entertainment & Sports Law Attorneys
Carey Charles B
25910 Acero # 360
Mission Viejo, CA 92691
(949) 458-2131
Attorneys, Legal Service Plans
Mosher & Skorina
26691 Plaza Suite 200
Mission Viejo, CA 92691
(949) 582-1544
Attorneys,  Criminal Law Attorneys,  Real Estate Attorneys,  Personal Injury Law Attorneys,  Insuran
Rivers J. Morrell III
27201 Puerta Real Suite 470
Mission Viejo, CA 92691
(949) 305-1400
Accident & Property Damage Attorneys, Personal Injury Law Attorneys, Attorneys
Smisko Law Firm
26050 Acero
Mission Viejo, CA 92691
(949) 829-1299
Banking & Mortgage Law Attorneys,  Real Estate Attorneys,  Attorneys,  Estate Planning, Probate, &
Ghassemian & Associates
26400 La Alameda
Mission Viejo, CA 92691
(949) 348-1005
Corporation & Partnership Law Attorneys,  Business Law Attorneys,  Construction Law Attorneys,  Pers
Sutton & Murphy
26056 Acero
Mission Viejo, CA 92691
(949) 206-0550
Personal Injury Law Attorneys, Insurance Attorneys, Attorneys
Sweeney, James S. Attorney
26300 La Alameda Ste 410
Mission Viejo, CA 92691
(949) 582-0022
Insurance Attorneys, Attorneys, Criminal Law Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US