Living Trust Attorney in Buena Park CA
Buena Park Living Trust Attorney
Let our highly experienced California living trust attorney help you protect your assets and save you and your family from high costs in the long run.
In California, a Living Trust is very often the preferred Estate Plan for many people. The most common type of Living Trust in California is one that is revocable, which means that you have the power to amend and revoke the trust.
The power of revocation and amendment are important for clients in an ever changing world where financial and family circumstances continually change.
Living Trusts vs. Wills
Living Trusts and Wills are the primary Estate Planning tools as both allow you to decide who receives your money, property, and assets after you pass away, and who will manage, settle, and distribute your estate after you are gone.
The primary advantage of a Living Trust over a Will is that a Living Trust avoids the costly and timely necessity of putting the family through a Probate Administration. Avoiding Probate saves the family thousands of dollars in the long run.
Living Trust in California is settled more quickly than the average Probate, and a Living Trust allows families to carry out Estate Planning in private. Probate cases are a public record, and are open to anyone to inspect.
Living Trusts can incorporate special features to handle specific family dynamics. These special approaches can include Special Needs Trusts for the care of a disabled child or family member; Pet Trusts; customized provisions for a “Blended Family” for second marriages that include children from prior marriages, adopted children, step-children, etc.; and “Spendthrift” provisions which protect a child’s inheritance from creditors, predators, and from themselves.
Helpful During Periods of Incapacity
If you are the trustee of your own living trust and you become incapacitated, your chosen successor trustee can manage the trust’s assets for you, very similar to an agent with power of attorney.
Estate Tax Planning
Estate and Gift Taxation issues can be avoided or minimized through the use of custom tailored Living Trust in California.
Counseling and Advice: The Key Ingredient
The key ingredient in the crafting of a Living Trust or Family Trust is the counseling and legal advice I give each and every client as their personal lawyer.
I frequently counsel people who have experienced high-pressure sales pitches from non-lawyer “financial planners” purporting to offer living trusts. These trust schemes hide the real goal, that is, to sell dubious and expensive annuity and insurance products; and more often than not, result in the client buying a useless “botched trust”.
Buena Park, CA
Buena Park is a city in northwestern Orange County, California. As of Census 2010 the population was 80,530. The city is adjacent to the city of Anaheim and is 12 miles (20 km) northwest of downtown Santa Ana. The Current OMB metropolitan designation for Buena Park and the Orange County Area is “Santa Ana-Anaheim-Irvine, CA”. Buena Park, dubbed as the Center of the Southland, is home to several tourist attractions, most notably Knott’s Berry Farm and the Los Coyotes Country Club. Original Spanish explorers settled on the enormous ranchos by land grants made by the King of Spain. Manuel Nieto of the Portola Expeditions received such a grant in 1783, which was divided by his heirs into five separate ranchos in 1834. One of them, 46,806-acre (189.42 km2) Rancho Los Coyotes, included the current site of the City of Buena Park where the rancho’s adobe headquarters was on what is now Los Coyotes Country Club’s golf course. The area was transferred from Spanish authority to Mexican rule in 1822 and ceded to the United States in 1848 at the end of the Mexican-American War. California was granted statehood in 1850. Americanization further expanded in the area after completion of the transcontinental railroad in 1869 and its connection to Los Angeles in 1875. By then, Abel Stearns had acquired Rancho Los Coyotes in consideration for loans made to Pio and Andrés Pico. In 1885, James A. Whitaker purchased 690 acres (2.8 km2) of this land from Stearns and in 1887 he founded the City of Buena Park in conjunction with the railway development of what we now know as Orange County. The city was incorporated in 1953. An agricultural center when founded (particularly dairy, wine and citrus products) the city is now primarily a residential suburb and commercial hub. Buena Park, city, Orange county, southern California, U.S. The site known as Buena Plaza was originally part of the Rancho Los Coyotes. The city was laid out and named Buena Park in 1887 by James A. Whitaker, a Chicago grocer who, intending to build a cattle ranch, bought nearly 700 acres (280 hectares) there in the 1850s. Served by depots of the Santa Fe and Southern Pacific railroads, the city developed as a dairy centre, later becoming a residential community connected by freeway to Los Angeles 20 miles (30 km) to the northwest. Buena Park is a popular tourist destination, home to Knott’s Berry Farm, an expansive amusement centre, and the Movieland Wax Museum. Food processing and the aircraft industry supplement Buena Park’s economy. Inc. 1953. Pop. (2000) 78,282; (2010) 80,530.
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.