The Revocable Living Trust is the foundation of a proper and complete estate plan that will protect your family and help keep you out of court if you become disabled or after you die. Here are some of the benefits of using a Living Trust: 

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Trusts Avoid Probate Court - If you die without a will OR with a will and your probate estate is larger than $150,000.00, the law requires that your estate pass to your heirs through the probate court. There are many reasons to avoid the Probate Court such as:

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Trusts are private - no one will have access to a copy of your trust at the courthouse.          

 

Trusts are less expensive than probate. The cost to purchase a trust and keep it up to date is less expensive than the court fees associated with the costs and headaches of a probate.                                                                                                                                                    

Trust administration after death is faster than the probate process. It takes only around 1 to 6 months depending on the issues and assets being administered. This provides a much faster inheritance for your kids.                                                                                               

Remarriage Protection. Trusts can protect your assets from future second husbands and wives.                                                                                                                                                        

Minimize Taxes. Trusts can help maximize tax savings.                                                                   

 

Trusts can include "asset protection" for your kids inheritance to prevent your assets from being lost to their predators, creditors, divorcing spouses, bankruptcy and lawsuits.    

 

Trusts protect children. You can ensure your descendants don't inherit your estate at age 18 which generally is a bad idea. You can reset the age of majority as you see fit.                   

 

Trusts help immediately. A will does not help you until you die. With a Trust, it begins working the minute you sign it. Wills have zero provisions for helping you if you become disabled.                                                                                                                                                   

Trusts give permission. Trusts can include provisions that give permission to your loved one who are helping you with your assets. This will protect them from being accused of identity theft, fraud, and elder abuse accusations.                                                                          

 

Trusts Help With Medi-Cal Planning. Trusts can help if you need care in a skilled nursing facility and need Medi-Cal to pay. The trust gives flexibility to make transfers of assets in accordance with the rules of Medi-Cal. When your house is titled in a trust, it is protected from Medi-Cal Estate Recovery. That means the government cannot put a lien on your house. 

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A trust is the foundation of a great estate plan, but a complete plan requires some other necessary documents as well:

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Other Necessary Documentsfor

an Effective Estate Plan

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Pour-Over Will - The only beneficiary of this will is your Living Trust. If you die with property outside of your trust that was supposed to be part of your trust, the pour over will acts as a "safety net." It can be used to make sure none of your property is distributed outside of your trust.

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Powers of Attorney for Finances - This document gives your loved one the power to sign your name if you become disabled. It only works while you are living.

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Advance Health Care Directive - This gives your loved one the power to make health care decisions for you if you are unable to make them yourself. Very important to put your wishes in writing that you do not want to be kept alive artificially if you have no hope of recovery. My document will help your loved one know exactly when it is appropriate for them to "pull the plug" which will help alleviate potential feelings of guilt that accompanies such a decision.

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HIPAA Waiver - The rules of HIPAA are the privacy rules that govern health care providers. A doctor is unable to give medical information to anyone unless he has his patient's permission. The HIPAA Waiver is like a permission slip giving the doctor or medical personnel permission to talk to the people you list.

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Living Will - Further evidence that you do not wish to be kept alive artificially if there is no hope of recovery. The Advance Health Care Directive controls this issue in California. This document is further evidence of your wishes and is required in many other states.

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Asset Funding - Your trust won't work unless your assets are re-titled into the name of the trust.​