Who Needs a Living Trust?
Why a Living Trust is the Most Important Estate Planning Document in California?
The biggest benefit of a trust is that it will avoid probate at the time of the settlor’s death. A probate refers to the California court supervising the process of administering the decedent’s estate. Because the living trust represents an enforceable contract between the decedent and the successor trustee, there is no reason for a court to get involved, thus, no probate is necessary.
If you own a business, the living trust will allow continued, uninterrupted management of the business. If you die or become incapacitated then your business will come to a dead stop. However, if you named a successor trustee in your living trust to run your business, your business will have no interruption in management.
A living trust can be a useful device for planning for incapacity. Once the assets are transferred into the living trust, then the trustee can manage the assets for you in your absence due to you being out of the country or temporarily incapacitated.
Tax benefits to your heirs. Giving your home to your children in a living trust means that they will get the house after your die, which ensures that the children will get a full stepped-up basis and will not have to pay any capital gains if they choose to sell the house.
There are many other benefits of a living trust. Schedule a consultation to see how your family can benefit from having a comprehensive trust package.
7 Essential Components of a Living Trust
Check if your trust fully protects you and your loved ones!
There are no do-overs once you pass away: you can't come back and correct the mistakes. Use our free tool to see if your trust has all the essential components.
Why Attorney Paul Horn?
Less than 1% of California attorneys have been recognized by the State Bar of California as Certified Specialists in Estate Planning, Trust, and Probate law. Paul Horn is one of them!
In order to be certified, Paul was required to take and pass a comprehensive full-day written exam in estate planning, trust, and probate law. He was also required to demonstrate a high level of expertise and the requisite number of years of experience in estate planning.
Lastly, in order to become certified by the State Bar of California, Paul was favorably evaluated by other attorneys and judges familiar with his work in estate planning, trust, and probate.
Any attorney can say they practice a specific field of law, but how can you be assured that they really do?
Our practice focuses entirely on estate planning and probate.
Paul Horn is admitted to practice law in the United States Federal District Court or the Central District of Calfornia, and in all California state courts. Paul is a member of the Los Angeles County Bar Association, NAELA, CANHR, Wealth Counsel, and Elder Counsel.
He is a distinguished speaker on probate, trust, asset protection, and real estate issues to trade associations, banks, attorneys, and the general public.
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