Updating living trust
If you are like our many clients you’ll be happy you did!
This is a time-tested, comprehensive trust and package, one we believe equals or surpasses trusts costing thousands of dollars, and most importantly (when the time came) it is a trust that has passed the ultimate real world test of performing flawlessly for so many families.
Even after setting up a living trust, you still should create a last will and testament, as a back-up.
Since 1988 our law office has been delivering quality, reasonably priced living trusts, serving thousands of satisfied clients and allowing countless families to provide this crucial protection to their loved ones and estate.
US attorneys and accountants frequently advise their clients to settle assets in a trust in order to circumvent probate, since trust assets do not form part of a person's probate estate.
Probate in the US is reputed for being slow, costly and lacking privacy.
This is different compared to other types of trusts that are created through the person's will. There are two types of trusts: inter-vivos (living) trusts and testamentary trusts.
This is in contrast to a Testamentary Trust, which is a trust created after a person's lifetime through the operation of that person's will.There may also be tax motivations for settling a trust.For example, if you die and your spouse is not a US citizen or green-card holder, there may be a substantial US Estate Tax liability at the time of your death.keeping your major assets titled to yourselves as Trustees of the Trust.(This does not apply to retirement account assets.) Failing to maintain proper titling can result in unintended consequences, such as triggering a probate court proceeding or resulting in a disposition of your property to persons other than as you had intended.