Oxnard Revocable Living Trust Attorneys
Dedicated & Effective Legal Counsel
Before you pass, it's crucial to plan for the orderly distribution of your
assets. Creating a revocable living trust is one of the best ways to protect
your legacy and the assets you intend to leave for your loved ones.
A revocable living trust offers a more flexible approach to estate planning
than simply creating a will. Indeed, Revocable Living Trusts are a must
for blended families, those with children who are minors and for the elderly
who need to maximize resources for long term care.
Most people don't realize that a revocable living trust is one of the most
important documents they will ever create. A living trust focused estate
plan is the most cost-effective, time saving solution to help people navigate
issues of incapacity and death. But not all revocable living trusts are
the same. In fact, there are simple probate avoidance trusts, blended
family trusts, litigation avoidance trusts, asset protection trusts, tax
reduction trusts, hybrid trusts, and many many other types of revocable
living trusts that ought to be tailored to each person's facts and circumstances.
Most law firms only create probate avoidance trusts which is simply not
going to cut it for many families. That’s why it’s best to
carefully choose which trust attorney you want to represent you. At Kaiden
Elder Law Group, PC, our team of experienced attorneys have crafted countless
revocable living trust documents over many decades, so we know how to
help you best and we do it right the first time around.
Call our law office in Oxnard today at (661) 306-2500 for a consultation
with our seasoned trusts attorneys.
What Is a Revocable Living Trust?
A revocable living trust is a legal document that determines how your property
is managed and distributed during your life and also when you pass away.
Typically, a revocable living trust involves the following three parties:
The Settlor: Sometimes called a Grantor or Trustor, is the creator of a trust. With
a revocable living trust, the Settlor can amend or revoke it as they see
fit. Their trust is a private document and becomes irrevocable when the
last Settlor dies.
The Trustee: The Trustee is responsible for holding title to the trust assets and managing
them according to the terms of the trust document. The assets held by
the Trustee make up the principal of the trust. This principal frequently
changes as determined by external factors such as expenses and income
as well as the investment desires of the Trustee. The Settlor usually
serves as the initial Trustee during life and then another person, private
professional trustee or corporate trustee will serve as the Successor
Trustee after the settlor dies or becomes incapacitated.
The Beneficiary: This is the individual(s) and/or entity(ies) entitled to receive the income
and/or principal from the trust. Passing assets through a trust avoids
a costly, time consuming probate proceeding as it passes assets to beneficiaries.
There are lots of other benefits Beneficiaries obtain by having assets
pass to them via a Revocable Living Trust.
Some of the other advantages of using a revocable living trust to pass
your legacy, values and wealth to loved ones include:
- The administration of your trust will remain a private matter as it needn’t
pass via the court system after your death.
- Property in your trust can be distributed to beneficiaries shortly (or
in a staggered manner) after your death for optimal results.
- Properly drafted Revocable Living Trusts not only avoid Probate court,
they ensure you leave your beneficiaries a legacy, and not headaches or lawsuits.
Request a Consultation with Our Trust Attorneys
At Kaiden Elder Law Group, PC., our law firm focuses on assisting clients
in all areas of estate planning. Long ago, we decided to hone our practice,
so that we could provide clients with exceptional services. That is why
we have a stellar reputation for providing world-class legal services
and compassionate counsel to clients of all backgrounds and age groups.
Our firm is uniquely qualified to help clients create effective estate
plans helping them navigate the murky waters surrounding probate, public
benefits, and tax law.
Pleas give us a call today at (661) 306-2500 if you are ready to schedule
a case consultation with one of our knowledgeable lawyers. You can also contact us online
by filling out our convenient online form.