Living Trusts

Benefits of a Living Trust

Hover over each item to learn more.

Avoid Probate

Avoid Probate

A Living Trust protects your loved ones from having to go to court for probate. Probate is the legal procedure used to transfer title of your assets to your heirs. The Superior Court supervises the payment of your debts, selling of your property and distribution of your assets to your heirs. This court process can take one to three years and is in most cases required even if you have a will! With a California Living Trust, your property is distributed to your heirs without probate. By transferring your assets now into a Living Trust you will save your loved ones the expenses of going to court and the headaches of probate.

Management During Incapacity

Management During Incapacity

A Living Trust protects you if you become incapacitated. Without a Living Trust, the court would appoint a conservator to manage your property, require the payment of court costs, conservator fees and attorney fees while you are incapacitated. With a Living Trust, you choose someone you trust to step in for you as successor trustee and avoid those expensive conservatorship fees.

Protects Your Family

Protects Your Family

With a Living Trust you decide how you want to take care of your beneficiary’s (children, grandchildren, elderly parents, grandparents, and family members with special needs) health, education, support and maintenance. You also decide what is a mature age for your beneficiaries to receive their inheritance (the state of CA thinks all beneficiaries are mature at age 18). A “Special Needs Trust”, gives you the opportunity to care for either physically or mentally challenged family members allowing them those comforts over what the state provides without interfering with their governmental benefits and protecting those assets from creditors.

Control Distribution

Control Distribution

With a Living Trust you maintain full control of your assets during your lifetime…buying, selling as you desire. Upon your death your Living Trust controls when and where your assets go, rather than the State deciding who is to receive your life’s work.

Saves Taxes: Income & Estate Tax

Saves Taxes: Income & Estate Tax

A Living Trust can help reduce taxes (Capital Gains, Estate and Income Tax). By transferring your community property out of joint tenancy and into a Living Trust, you can avoid the income tax of approximately 30% when it is sold after the death of your spouse/domestic partner. Visit https://www.sos.ca.gov/registries/domestic-partners-registry/ for more domestic partner information.

Privacy

Privacy

A Living Trust ensures your family privacy because the details of Trust Administration are not open to the public as probate proceedings, this also offers some protection against certain creditors

Preserve Your Federal Estate Tax Exemption with A-B California Living Trusts

A-B California Living Trusts preserves your Federal Tax exemption. Estate taxes are imposed when the net value of your estate exceeds the exemption. A married couple with an A-B California Living Trust can combine their exemptions and pass tax-free deduction to their beneficiaries! Since the Federal Tax is at 40%, the tax savings can be substantial. With an A-B Living Trust, your money will go to your choice of beneficiaries…not Uncle Sam. Also A-B California Living Trusts allow you to “lock-in” your beneficiaries and preserve your assets for them should you predecease your spouse.


Living Trust Lawyer

At Hart, Mieras & Morris, we represent clients throughout the United States and in particular Southern California, with offices in Arcadia, Burbank, Los Angeles, Glendora, Irvine, Temecula, Valencia, Whittier, and Woodland Hills. For a confidential consultation, contact us contact@hmmlegal.com or call our main office at 626-445-1212 (toll-free at 1-800-529-5570) to set up an appointment.

 

To schedule an appointment, to discuss the above matters with an attorney
Call 1(800) 529-5570 or e-mail contact@hmmlegal.com.

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The information you obtain on this website is not, nor is it intended to be, legal advice. You should consult with an attorney for individual advice regarding your own situation. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.