The idea that you can create a simple estate plan by choosing to create a single document, such as a power of attorney or a will, is something that too many people believe. Do-it-yourself planning sites and books sometimes appeals to people who don’t like the idea of spending money on hiring an attorney to help them create an estate plan. Because of this, people interested in do-it-yourself planning sometimes believe that creating a single tool will be enough. Unfortunately, this is not the … [Read more...] about Why You Need a Power of Attorney and a Will
Revocable Living Trust
Home Ownership and Revocable Living Trusts
Many homeowners want to create estate plans that allow them to protect their homes and more easily pass them on to their children or inheritors after they die. Because of this, estate planning attorneys often counsel homeowners to create a revocable living trust. Through the trust, the homeowners can transfer title of their real estate into the trust’s name to obtain various benefits. However, using a revocable living trusts to own and transfer property does take some additional work, and these … [Read more...] about Home Ownership and Revocable Living Trusts
Don’t Fall for These Living Trust Myths
A lot of people who research estate planning come to the conclusion that they need to create a revocable living trust. While a revocable living trust is an excellent estate planning tool to have, it’s also something that can be a little difficult to understand. Further, you might come across some popular myths and misperceptions about living trusts that could get in the way. To help explain living trusts and show you why some of the popular myths are wrong, let us take a look at some common … [Read more...] about Don’t Fall for These Living Trust Myths
Living Trust Mistakes to Avoid
Deciding to create a revocable living trust as a part of your comprehensive estate plan is an excellent choice for many people, but there are some mistakes you can make that you will definitely need to avoid. Living trusts, like all other estate planning tools, depend upon your ability to create them properly and maintain them over the years. A good living trust is one you pay attention to, not one you ignore. an experienced and qualified estate planning attorney will provide you with guidance … [Read more...] about Living Trust Mistakes to Avoid
Why Your Living Trust Alone is Not a Complete Estate Plan
One feature of the Internet is that a world of information is just a few keystrokes away. Unfortunately, this ease of access to information is also a potential hazard, especially when you rely on incomplete information. Creating an estate plan requires you to have multiple elements, each of which serves a specific purpose. Some who research estate plans on the Internet come to believe that they can, for example, create a complete estate plan simply by creating their own revocable living trust. … [Read more...] about Why Your Living Trust Alone is Not a Complete Estate Plan
Your Living Trust and Your Trustee – 3 Options
Many people in California choose to create a living trust as one of the primary tools in their estate plans. While these trusts offer excellent benefits, you must be certain that you choose the right trustee for your needs. There are several different types of trustees available to you, and you should evaluate each option before you make your final choice. Yourself You can act as your own trustee when you create a revocable living trust. In order to be a trustee you must be mentally sound, … [Read more...] about Your Living Trust and Your Trustee – 3 Options
Using a Living Trust in Emergencies
You may know that living trusts provide the benefit of being able to almost completely avoid the requirement that your property pass through probate before your inheritors receive it, but living trusts also offer you the opportunity to ensure that your property is properly managed should something happen to you. Like a power of attorney, you can use a living trust to have someone manage your property if you are suddenly injured, fall ill, or otherwise rendered incapacitated. Here’s how it … [Read more...] about Using a Living Trust in Emergencies
