Living Trust Attorney in Rossmoor CA
Rossmoor 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”.
Rossmoor is an affluent planned census-designated place located in Orange County, California. As of the 2010 census, the CDP had a total population of 10,244, down from 10,298 at the 2000 census. The gated Leisure World retirement community in the city of Seal Beach is to the south of Rossmoor, Los Alamitos is to the east and north, and Long Beach is to the west (on the other side of the San Gabriel River, the 605 freeway and the border with Los Angeles County). The community of Rossmoor has two shopping centers within its boundaries, but only one-the Rossmoor Village Square-is now within the political boundaries of the Rossmoor Community Services District. A larger shopping center, the Rossmoor Business Center, now remodeled and called the Shops at Rossmoor-was annexed, despite many protests, by the city of Seal Beach in 1962. The Rossmoor community was developed from 1955 through 1961 by Ross W. Cortese, who had earlier developed the architecturally-significant Lakewood Rancho Estates in Long Beach (1953) and the Frematic Homes (1954) in Anaheim, just north and west of Disneyland. Originally created as a nudist colony, this quickly changed when Cortese’s original partners in securing the first large parcels of land that would become Rossmoor included California governor Goodwin Knight and Judge Alfred Gittelson, who had also partnered with him in the Lakewood Rancho Estates and the Frematic homes. (It was Gittelson who later agreed to annex his Rossmoor Shopping Center property to Seal Beach in the 1960s.) After Rossmoor, Cortese would construct the first of his very successful Leisure World gated retirement community in that part of Seal Beach which is immediately south of Rossmoor. The Rossmoor community is easy to recognize because of its red brick “signature wall” that borders the entire unincorporated community. It is a signature of the Rossmoor community that differentiates it from neighboring cities Los Alamitos and Seal Beach. There are 3,430 single family homes and 1 condominium complex within Rossmoor.
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