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LIVING TRUSTS | SIRKIN LAW GROUP | ATTORNEYS LAWYERS | LOS ANGELES CA
Living Trust Attorney Los Angeles
WHAT IS A LIVING TRUST?
A living trust is a way of avoiding probate when someone dies and a superb strategy for managing assets during life. The main goal of a living trust is to keep people's assets out of court. A Living Trust is also a good alternative to a conservatorship and can help manage a person's assets even when that person becomes incapacitated.
WHO SHOULD HAVE A LIVING TRUST?
HOW DOES A LIVING TRUST HELP IN INCAPACITY?
Living Trusts do not just work at death, they help manage and protect people during incapacity because they operate as a asset management tool for a person's assets and estate. During incapacity, a successor trustee of a living trust can easily step into the shoes of the person who executed the trust by simply getting doctors' declarations regarding capacity. This means that the trust will continue operate, bills are paid, income is collected, and assets are invested with continuity.
The main thing to know about a living trust is that the person who signs it must have capacity on the date he/ she signs the living trust. If the person lacks capacity, a living trust can be created via a court order in a conservatorship proceeding.
WHAT HAPPENS TO A LIVING TRUST AFTER SOMEONE DIES?
A living trust needs to be administered after a person dies. Administration of a living trust is much simpler than probate and takes less time. Because assets are administered informally, heir and beneficiaries of the trust get their money faster and without court. If there are dispute regarding a trust, a trustee or any beneficiary may apply to the court for an order, or instructions.
SHOULD I HAVE A REVOCABLE LIVING TRUST OR AN IRREVOCABLE LIVING TRUST?
In most cases, a revocable living trust is what is recommended because people want to be able to change their trusts during their life. In some cases, where we do asset protection or tax planning, we recommend that our clients prepare irrevocable trusts. Ask us about your choices and specific recommendations for your family.
WHAT IS THE COST OF PREPARING A LIVING TRUST?
We offer a free initial consultation meeting with our Los Angeles attorneys at which time we can give a flat fee quote. To obtain an appointment, and a family information package which tells you what to bring to your consultation, contact our Los Angeles Probate Lawyer at 818.340.4479. Read more about our Living Trust Attorney in Los Angeles.
HOW LONG DOES IT TAKE TO MAKE A LIVING TRUST?
Normally, the average time to prepare a living trust is about two weeks. If you have an emergency, an urgent health issue, planned surgery, or travel plans, please talk to us for expedited services. We can prepare living trusts in an emergency in a shorter time than our normal time.
DO I NEED AN ATTORNEY TO PREPARE A LIVING TRUST?
Yes, you should use an attorney to prepare your living trust because only attorneys carry malpractice insurance for their legal work. There is no substitute for experience and education. You should hire lawyers who have administered thousands of living trusts. That's us!! We have spent over 24 years preparing and administering trusts. We also have litigated them, so we know them inside out. Call our Los Angeles Probate attorney to avoid probate today!
Call Mina Sirkin or Evan Sirkin for a free living trust consultation appointment.
Los Angeles Living Trust Attorneys: 818.340.4479.
Probate Attorney Los Angeles
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