Revocable Living Trust Are you in need of an Revocable Living Trust in Santa Clarita?

Revocable Living Trusts

Estate Planning Attorney in Valencia, California

Revocable Living Trusts include Single Member Revocable Living Trusts, as well as "married couples" A-B Revocable Living Trusts. When properly drafted and funded, these trusts allow you to accomplish many important estate planning goals. This includes avoiding the dreaded probate process, completely avoiding or at least significantly reducing federal estate taxes, avoiding capital gains taxes, providing for incapacity, and being sure your hard earned assets go, not only to who you want them to go, but when and how you want them to be received.

Typically, individuals will name themselves and their spouse (if married) as the trustee(s) so that they may remain in control of their assets throughout their life. In addition, in a properly drafted revocable trust you name successor trustees who will manage your trust in the case that you are no longer able to do so, due to incapacity or death. One primary benefit of a revocable living trust is that your assets will be transferred out of your name and titled in the name of your revocable living trust, and therefore will be exempt from the probate process at the time of your death. It is vital that you understand the process you and your loved ones will face and that you have the legal assistance that you need to accomplish your goals.

When children are to become the beneficiary(ies) of an estate, there are additional concerns that must be addressed. Handing over a substantial sum of money to an 18 year old is not normally the intention of parents. A properly drafted Revocable Trust assets can be held and managed by the successor trustee(s) until the child reaches a certain age (25 for example). The successor trustee(s) is able to distribute money to the child or their named guardian for their support and education prior to the designated age when the distribution occurs.

Let Four Decades of Experience Work for You

Our firm has been practicing in the area of estate planning for many years. We understand the probate and estate planning process. We also understand family dynamics, and you can be sure that we will put this experience to work for you when you choose to work with us. We treat every client and estate plan as the most important; you will not be just another number. We genuinely care about our clients and we will work to help you achieve the results you need and be sure you have the proper estate plan for your individual situation.

Contact Barnholtz & Kugler today to discuss your situation and to begin preparing for the future of your estate.

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Valencia Law Firm

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