What is a Living Trust?

A living trust is a legal instrument created to distribute your assets to your designated beneficiaries as per your wishes, without the need for probate proceedings, which can be time-consuming and costly. The person who establishes the trust, commonly referred to as the grantor or settlor, retains the power to modify the trust terms or revoke it altogether during their lifetime. Essentially, you set up the living trust and transfer ownership of your assets to it, which you manage as the trustee.

 

Assets pass to your beneficiaries upon your death.

In the event that you become incapacitated or wish to step down from the position of trustee, the individual you have designated as the successor trustee can assume control over the management of the trust assets

When you prepare your living trust, you will identify your beneficiaries as well as the person who will carry out your wishes, your successor trustee.

A Living Trust will allow your heirs to avoid the long, costly and confusing probate process.

Update your legal documents with life changes

As life changes so should your living trust. You may have grown your family, want to update or change beneficiaries, add a successor trustee or make an adjustment to your Power of Attorney. Your trust documents need to be reviewed with life changes. LDA Now can update your existing living trust.
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You're in charge of your estate-planning documents

Your trust, power of attorney and other estate-planning documents are not filed with the county or other government agency. If you can't find your trust, it doesn't exist. Keep your trust in a safe and secure place and share its location with someone you trust. One thing is for sure having a living trust saves your beneficiaries the added delay and stress of probate.
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Creating a Power of Attorney: Choose Carefully

As part of our Living Trust Package a Power of Attorney (POA) is a legally binding document that allows you to appoint someone to manage your financial affairs and property. When you create a power of attorney, you are called the principal and the person you select to act for you is called your agent. The agent has the same authority as you have to make decisions, sign legal documents, handle your affairs and manage your assets.
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Advanced Healthcare Directive

As part of our Living Trust Package the advanced healthcare directive is a legally binding document that allows you to express your wishes about end-of-life care, and it must be followed by the medical staff treating you. You will appoint an agent, someone you trust who is over the age of 18.
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What is Probate?

Probate is the legal process that takes place after someone dies. This process varies based on whether you have a will, a trust or no will. In California, before proceedings get underway, the court will appoint someone to oversee the process. If there is a will or trust, it typically designates a personal representative to take on this duty. The person will take possession of the estate property and distribute that property accordingly.
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Do I need a Successor Trustee?

A trustee is legal owner of all assets of the trust. Most individual grantors who create a living trust also serve as the trustee during life so they continue to manage all their own trust assets. The trust document itself names successor trustees, persons who step in to manage trust assets after the grantors death or incapacity. Careful consideration should be given in choosing someone for this role.
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Our goal is to provide the highest quality service while still being affordable. Our clients maintain control of their legal matters and we provide professional and confidential legal document preparation.

We are not attorneys. We can only provide self-help services at your specific direction and pursuant to Business & Professional Code Section 6400. Our objective is to provide you with accurate document preparation at a reasonable price. We have experience helping people with most types of legal documents including Will, Trusts, LLC Formation, Divorces, Power of Attorney, and more.
We are certified by the Orange County Clerk- recorder’s office and bonded where our office is located. 

CA LDA #00571 – expires 01/2025

 
 
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