What is a Living Trust?

A Revocable Living Trust (a Trust you can change) is a legal entity, created to hold ownership or “title” to your designated assets.

Under YOUR direction, title to your designated assets is transferred from yourself individually to your Living Trust in which you serve as the Trustor (the Trust owner) and the Trustee, the Controller of what goes in and out of the Trust.  You retain control of all Trust Property, as long as you live, and are cognitive.

How does a Revocable Living Trust work?

Today the assets of your estate are likely in your name(s), as Joint Tenants, or, in Community Property. When a Revocable Living Trust is established assets are transferred into the name of your Revocable Living Trust and you become the Trustee over the assets in your Trust.  Thus as Trustee, you still control all of the assets in your Revocable Living Trust. At your death, all of the assets in the Trust are transferred to your named beneficiaries avoiding probate for those assets.

-YOU become the “Trustor”, you own the Trust and your Trust now owns all of your assets, you place into your Trust.

-YOU become the “Trustee” and you control all the assets you put into your Trust or take out of your Trust.

-YOU are the beneficiary of your Trust during your lifetime.

-YOU select the person(s), who, upon your death, will distribute and/or administer the assets of your Trust.  These persons are known as the “Successor Trustee(s)” who distribute your Trust Estate, as you directed in your Living Trust, without change, court hassles or arguments.

What are the advantages of a “funded” Revocable Living Trust?

-Avoids probate for ALL assets held in the title of your Living Trust;

-Upon death, allows quick distribution of trust assets to your family and loved ones;

-Keeps your Estate private, confidential and Probate court has no control over trust assets.

-Keeps your family and personal business completely private and usually saves heirs taxes.

-Reduces emotional stress on family and loved ones... they’re already mourning the loss of you.