Living Trust Attorney in Laguna Beach CA
Laguna Beach 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”.
Laguna Beach, CA
Laguna Beach is a seaside resort city and artist community located in southern Orange County, California, United States, approximately 19 miles (31 km) southwest of the county seat of Santa Ana. Its population was 22,723 at the 2010 census, down from 23,727 at the 2000 census. Laguna Beach is the second oldest city in Orange County, second to Anaheim. Settlers arriving after the American Civil War found scarce amounts of land available for homesteading, and one such tract, known then simply as “the public lands” was the coastal strip from Laguna Canyon to Three Arch Bay. During the 1870s, a small community named Arch Beach had been started at the mouth of Bluebird Canyon. By the early 1880s most of the land around its small Post Office and general store had been subdivided. At about the time that Orange County separated from Los Angeles County and became independent in 1889, the community was caught in an economic downturn. The city, picturesquely situated among stunning cliffs, coves, and canyons, developed as a coastal resort and art colony, and it now draws millions of visitors annually. The Festival of Arts and Pageant of the Masters is held at Irvine Bowl, a natural amphitheatre just east of the city; held nightly in July and August, the pageant re-creates contemporary and classical artworks with elaborate sets and people posing to resemble characters in the original art, accompanied by a live orchestra. Other notable local attractions include the Laguna Art Museum, formed from the Laguna Beach Art Association (founded 1918), and several arts festivals. Several wilderness parks are east of the city. Mission San Juan Capistrano is a few miles southeast, and Crystal Cove State Park is north of the city. Inc. 1927. Pop. (2000) 23,727; (2010) 22,723.
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.