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We are open Monday through Friday 10 am to 6 pm

Protect Your Assets
Avoid Probate

Complete Estate Planning Packages as low as $399.00

Deluxe Will & Trust Package (Individual)
$449.00
Will, Health Care Directive. Financial & Health Care Powers of Attorney

Codicil to Will
$99.00

Deluxe Will & Trust Package (Couple)
$699.00
2 Wills, 2 Health Care Directive. 2 Financial & 2 Health Care Powers of Attorney

Living Trust Package (Individual)
$499.00
Living Trust, Pour Over Will, Health Care Directive. Financial & Healthcare Power of Attorney

Living Trust Package (Couple)
$599.00
2 Joint Living Trusts, 2 Pour Over Wills, 2 Health Care Directives. 2 Financial & 2 Healthcare Powers of Attorney

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(408) 483-2504

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LDA #143
Santa Clara County Expires 6/9/2022

Disclaimer

I am not an attorney. I can only provide self-help services at your specific direction.

Frequently Asked Questions

Q. How does a Living Trust Protect My Heirs?

A. By transferring your assets into a living trust, your heirs bypass the PROBATE process requiring the court to distribute. By doing so, you save your heirs thousands in legal fees and transfer authority to whoever you appoint to distribute your assets.

Q. If I leave a Trust to my heirs, and they are married, will my assets pass on to their spouse?

A. No, it will not. The property will be owned by the Trust and as long as the property is owned by the trust, the property is not considered community property in their marriage. The only way that happens is if the heir transfers property into their personal capacity out of the trust.

Q. Do I Require an Attorney to Draft Estate Planning Documents?

A. Most people own their home, maybe a second home or rental, their cars, and bank accounts. Most people have simple estates that do not require the assistance of an Attorney.

Q. Will My Documents Hold up in Court?

A. Estate law documents most always pertain to the wishes of the Grantor. The secret to holding up is clear concise language that defines your wishes clearly and unambiguously. Courts do not over ride the wishes of the Grantor unless the Successor Trustee you assign in the trust to succeed you on passing, commits a severe violation of fiduciary duty and is challenged, in a court of law by another beneficiary. I cannot overemphasize the importance of clear concise language in your trust

Q. Do I Maintain Ownership of my Assets that I Transfer them into the Living Trust?

A. Yes you do. You and Your Trust are seen as one entity for every purpose OTHER THAN PROBATE. You transfer assets into Your Trust which You are the Trustee. The only time the law sees Your Trust as separate from You is to avoid probate. You use your PERSONAL SSN to file taxes up until your passing when the Successor Trustee takes over. The Successor Trustee must get a Federal Tax ID number after You pass and the Trust becomes irrevocable.

Q. What Assets are Normally Transferred into a Living Trust?

A. Assets that contain a Beneficiary Designation such as Life Insurance Policies or Retirement Funds Do Not get Transferred into Trusts. Cars, Homes, Businesses, Bank Accounts are Routinely Transferred into Living Trusts.

Living Trust Tax During Grantor’s Life

The individual who creates and funds the Living Trust is referred to as the Grantor. When the Living Trust is set up as a Revocable Trust, which is the most common arrangement, the Grantor can move assets in and out of the Trust or even terminate the Trust if so desired. Therefore, the Grantor remains entitled to receive the income and the principal of the Trust. As a result, the IRS still taxes the Grantor on the Trust income. Because the Trust can utilize the Grantor’s social security number to establish investments and bank accounts, all of the income related to the Trust can be reported on the Grantor’s tax return. No separate tax return will be necessary for a Revocable Living Trust. However, even though the Grantor is taxed on the Trust income, the assets are legally held by the Trust, which will survive the Grantor’s death. That is why the assets in the Trust do not need to go through the probate process.

Many times, the beneficiaries to both a will and Trust is the one, or ones, named as Successor Trustee and Executor to the will.

Does a Living Trust reduce income taxes?

Living Trust can help avoid or reduce estate taxes, gift taxes and income taxes, too. A creditor of the settlor has the same right to go after the trust property as if the settlor still owned the assets in his or her own name.

How do trusts avoid taxes?

While there are dozens of trust types, in order to remove assets from an estate to avoid the estate tax, the trust has to be what's called “irrevocable.” That means that at some point, you no longer own the assets placed in the trust — the trust does.

When should I consider a living trust?

living trust also allows your beneficiaries to avoid probate after your death. Probate is a legal process in which your estate is handled by the probate court. ... Transferring assets to a living trust makes them exempt from probate. A living trust is also useful if you want to leave assets to your minor children.

What happens if you don't have a living trust?

If you don't have a Trustyour Estate will have to pass through probate (contrary to popular belief, “estate” is not something that applies only to the wealthy—it is a legal term that just means all of your possessions). Probate is the process where a court determines who receives your possessions.

Who owns the property in a trust?

With a revocable trust (or grantor trust), the grantor owns the trust property.

Why is it good to avoid probate?

Probate is a court supervised process for administering and (hopefully) distributing a person's estate after their death. ... Only a trust can avoid probate because once you have a trust, all of your assets are then transferred to the trust during your lifetime thereby avoiding the need for a court to do so.

Many times, the beneficiaries to both a will and Trust is the one, or ones, named as Successor Trustee and Executor to the will.