Common Questions And Answers About Wills And California Revocable Living Trusts
At Norton Basu LLP, we know you want to plan so that your loved ones are taken care of and your assets redistributed per your wishes. A living trust is one way to protect your estate. Have more questions? Call us at 408-520-1712 and get straightforward answers.
Top 5 Benefits of a Revocable Living Trust
- You gain peace of mind, knowing that your loved ones and your legacy are protected.
- Your family and your estate bypass the long and expensive California probate process.
- You retain control. You determine how your estate is managed and what happens to your assets after your death. The money in a trust can be distributed in many ways, including on an annual basis to minors or used to pay tuition, for example.
- Your estate remains private. By eliminating the need for probate, your personal and private affairs do not become a matter of public record at your death.
- You can protect your assets from creditors. Depending on how your trust is set up and administered, it can also protect the assets you have set aside for your children or grandchildren from creditors.
What Is Probate? Does my estate still go through Probate if I have a Will?
Probate is the process of gathering all your assets, settling your debts, and distributing your estate to your heirs under the supervision of the probate court. Assets passed via a Will are still subject to probate. Consider executing a Revocable Living Trust instead.
How do I get started? Do you offer free consultations?
Unlike many attorneys, we don’t ask you to fill out a lengthy, impersonal questionnaire before we meet. Your initial, free consultation is to discuss your intentions, your vision and how we can create it. Expect to meet for 30 minutes.
What is included in a Revocable Living Trust Package?
- Revocable Living Trust and related documents
- “Pour-Over” Will
- Power of Attorney
- Advance Health Care Directive
- HIPAA Waiver
- Nomination of Guardianship for minor children
- Real Estate property deeds transferring ownership to the Trust
- Asset Titling documents
How much does it cost to set up a Revocable Living Trust?
We offer a flat fee structure, which varies depending on your specific wishes, so you know exactly what to expect in terms of cost. Once you’re our client, we remain available to you whenever you have a question. We offer unlimited support via telephone, email, Zoom or in person. Ask us a question at any time.