Our living trusts are comprehensive. Included in the revocable living trust are the following: Administrative, Document Signing, and Funding Instructions; Revocable Living Trust Agreement; Schedule of Assets and Assignment to Trust; Pour Over Wills; Advanced Health Care Directive; Springing Durable Power of Attorney for Funding; Certification of Trust; Successor Trustee's Instructions; Final Checklist and a category for Miscellaneous. Our office assists with Deeds in San Diego and other counties and offers an Amendment service for any changes. The law changes in this area and all trusts should be reviewed at least every five years. It is also common for after trust date acquired property not to be included and this is a significant problem.

The definition of a trust is a fiduciary relationship with respect to property arising from the manifestation of intention to create a fiduciary relationship and subjecting the person who holds title to the property duties to deal with if for the benefit of a charity of for one of more persons at least one of whom is not the sole trustee.

The goal of a trust is to transfer wealth from one generation to the next in the most economical, expedient and tax minimization possible. Our firm will discuss strategies and techniques proven successful to help you obtain these goals.

The language of a trust may allow a spouse to transmute property from community property to separate property and the well spouse may prevent unnecessary depletion of the estate. Powers allowing transfers of real and personal property may preserve the inheritance for the next generation and avoid a spend down before qualifying for certain public benefits.

Revocable living trusts are effective during life and after death. Any estate over $100,000 or any real property over $20,000 is the threshold to have a revocable living trust. The information contains the name, address, phone number, date of birth, relationship for all beneficiaries, executors, administrators and agents for identification and location purposes.

The benefits of a revocable living trust is to avoid probate. Probate is very expensive and can deplete an estate. In addition, there is no court supervision and no attendant costs for this supervision. In addition, this will insure privacy is most cases as the trust is not filed with the court unless there is a contest. A revocable living trust may also avoid conservatorship however this is not applicable to all situations and this includes locked facilities and psycho tropic drug prescriptions.

The disadvantages of a revocable living trust is that there is no court supervision. In addition, there may be a lack of understanding of legal ramifications and duties which may lead to legal liability for any errors.

Additional documents in a revocable living trust may include a durable power of attorney, an advanced health care directive, authorization to release protected health information, nomination of guardians, nomination of conservators, letters transferring financial assets to the trust, a trust protector clause and an incorporated special needs trust. An experienced attorney is necessary to analyze your individual case and advise and counsel you on the best documents for your case.

There are many requirements for a revocable living trust to be valid and among them are the witness requirements. It is essential that all of the legal formalities are observed or the trust may not be effective. In addition, it is very important to list all of the beneficiaries and make sure not to omit any person who would have to be omitted specifically in the trust to be disinherited. Many issues arise in this area and also in the area of the distribution. If there is to be a distribution to three children, will their share go to their children [grandchildren] if they predecease the testator or to the other two children? This can be a very contentious issue after the death of the testator and needs to be delineated specifically in the trust. In addition, if there are any specific pieces of property to go to an individual [jewelry or other] then this also needs to be stated.

It is also very important to have administrators and executors who you can trust to fulfill your wishes after death. Our firm normally suggests a relative who you trust. If a relative will not be appropriate in your individual case, then another will have to be nominated. In addition, our firm normally recommends that you do not appoint joint administrators and executors as this can lead to problems between siblings and others after the death of the testator. As such, we normally recommend that a "primary" and "secondary" is chosen. Of course, all cases are analyzed individually.

Capacity is a very important issue in a trust. In order to have a valid trust, the testator must have full capacity. No diminished capacity is allowed as may be in a will. There may need to be an expert opinion as to capacity.

In our firm, we can suggest additional strategies and techniques depending on the size of the estate and the estate tax and gift tax issues.

One important reason to meet with an estate planning attorney is to set forth in a legal document your directive and wishes regarding your health care and finances. These documents are critical in the event you are rendered unconscious or other wise unable to state your wishes. Our lawyers can help you draft medical powers of attorney which are incorporated into the trust as well as advanced health care directives and financial powers of attorney. These will assist your family as well as medical providers if you are unable to do so.

It is essential to inform your attorney if you have a previous will or living trust as they will need to be revoked specifically in the trust.

Contact Us Online or call us at 877-HELP411 [877-435-7411] in Southern California or 858-618-5510 or e mail us. We will be pleased to offer you a complimentary and confidential consultation up to a length of 30 minutes to discuss strategies and techniques to assist in protecting your rights and trying to obtain your legal goals.