Living Trust Attorney in Costa Mesa CA
Costa Mesa 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”.
Costa Mesa, CA
Costa Mesa is a city in Orange County, California. The population was 109,960 at the 2010 census. Since its incorporation in 1953, the city has grown from a semi-rural farming community of 16,840 to a primarily suburban and “edge” city with an economy based on retail, commerce, and light manufacturing. Members of the Gabrieleño/Tongva and Juaneño/Luiseño nations long inhabited the area. After the 1769 expedition of Gaspar de Portolà, a Spanish expedition led by Father Junípero Serra named the area Vallejo de Santa Ana (Valley of Saint Anne). On November 1, 1776, Mission San Juan Capistrano became the area’s first permanent European settlement in Alta California, New Spain. In 1801, the Spanish Empire granted 62,500 acres (253 km2) to Jose Antonio Yorba, which he named Rancho San Antonio. Yorba’s great rancho included the lands where the communities of Olive, Orange, Villa Park, Santa Ana, Tustin, Costa Mesa and Newport Beach stand today. Costa Mesa, city, Orange county, southern California, U.S. The city lies on a coastal plateau overlooking the Pacific Ocean, at the mouth of the Santa Ana River, 37 miles (60 km) southeast of Los Angeles. With Newport Beach it forms Orange county’s “Harbor Area.” The area was originally inhabited by Shoshone Indians, who formed a village named Lukup along the Santa Ana River (called Wanawna by the Shoshone). With the coming of the Spanish, the land was divided. The city site, once part of Rancho Santiago de Santa Ana and the Irvine Ranch, became the hot-springs resort of Fairview. In 1889, however, flooding damaged the railroad connection to the city, and thereafter farming became the chief industry. Principal crops included apples, strawberries, sweet potatoes, and tomatoes. Laid out in 1906 as the town of Harper, it was renamed Costa Mesa (Spanish: “Coastal Tableland”) in 1920 for its location. Oil drilling soon supplemented the economy, and the construction of expressways in the 1950s stimulated residential growth. Light industries were developed, and the city is now an industrial and commercial centre for Orange county. Costa Mesa hosts the annual Orange County Fair. The city is the seat of Orange Coast (community) College (1948) and Vanguard University of Southern California (founded as Southern California College in 1920 at Pasadena; relocated 1950). The Estancia (1818), a station of Mission San Juan Capistrano, has been restored as a historical monument. The Segerstrom Center for the Arts (formerly called Orange County Performing Arts Center) opened in 1986. Inc. city, 1953. Pop. (2000) 108,724; (2010) 109,960.
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