Living Trust Attorney in Irvine CA
Irvine 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”.
Irvine (pronounced /?rva?n/ ur-vyn) is an incorporated city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28, 1971, the 66 square mile (172 km2) city has a population of 212,375 as of the 2010 census. However, the California Department of Finance estimates its 2011 population to be 219,156. It has annexed in the past an undeveloped area to the north, and has also annexed the former El Toro Marine Corps Air Station, most of which is planned to be converted into the Orange County Great Park. Because of its good schools, jobs, and housing, the city was chosen in 2008 by CNNMoney.com as the fourth best place to live in the United States. In June 2010, the Federal Bureau of Investigation reported that Irvine had the lowest violent crime rate among cities in the United States with populations of more than 100,000, and in August 2008 the Census Bureau ranked Irvine as having the seventh highest median income among cities in the United States with populations of more than 65,000. Irvine is home to the University of California, Irvine (UCI), Concordia University, Irvine Valley College, the Orange County Center of the University of Southern California (USC), and the satellite campuses of Alliant International University, California State University Fullerton (CSUF), University of La Verne and Pepperdine University. Irvine, city, Orange county, southern California, U.S. Adjacent to the city of Santa Ana (northwest), Irvine lies about 40 miles (60 km) southeast of Los Angeles. Originally inhabited by Tongva (or Gabrielino) Indians, the area was explored by Gaspar de Portolá in 1769. The land that would become the modern city (and one of the largest planned cities in the United States) was composed of parts of Ranchos Santiago de Santa Ana (1801), a Spanish land grant, and San Joaquin (1837) and Lomas de Santiago (1846), both Mexican land grants. By the 1860s much of the land had been acquired by sheep ranchers Benjamin and Thomas Flint, Llewellyn Bixby, and James Irvine (for whom the city is named). By 1876 Irvine had purchased the entire tract of what became known as the Irvine Ranch. His son inherited the land and established the Irvine Company in 1894. Irvine subsequently developed into a farming community, with crops that included barley, lima beans, olives, asparagus, strawberries, and oranges. During World War II, t wo U.S. Marine facilities were built on land formerly owned by the Irvine Company. The University of California, Irvine, was established in 1965 and is now the city’s leading employer; the campus houses the Irvine Barclay Theatre, which hosts concerts and other entertainment. The city is also the seat of Concordia University (1976) and a community college (1979). Other notable attractions are an amphitheatre, which holds up to 15,000 spectators for outdoor concerts, and the Irvine Museum (1993), which features California art from the Impressionist period. Irvine Ranch Land Reserve, with some 50,000 acres (20,000 hectares) of protected land-which constitutes more than half of the historic ranch-is popular for hiking, horseback riding, and bird-watching. John Wayne Airport, immediately west of the city, serves Orange county and is among the busiest airports in the United States. Laguna Coast Wilderness Park is adjacent to the southern part of the city, and the Santa Ana Mountains are to the east. Crystal Cove S tate Park is nearby. Inc. 1971. Pop. (2000) 143,072; Santa Ana-Anaheim-Irvine Metro Division, 2,846,289; (2010) 212,375; Santa Ana-Anaheim-Irvine Metro Division, 3,010,232.
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