Trusts can be either Irrevocable or Revocable. An Irrevocable Trust, is just that, irrevocable. Irrevocable trusts can be useful in specific situations, but a majority of clients benefit from a Revocable Trust.

A Revocable Trust, or Living Trust, can be revoked or amended by the creator of the trust, and is often the best option for clients. In a Revocable Trust, you are able to control all of your assets while alive, and lay out a plan for distribution of those assets after your death.

A Revocable Trust is also beneficial during your lifetime, not just regarding distributing your assets after your death. If you to become incapacitated during your lifetime, the Revocable Trust provides for your successor trustee to immediately step in and handle your affairs without Court involvement. This saves a lot of expense and time for your successor trustee.

Most people know of Trusts because of their ability to avoid Probate. In the State of California, if you have $150,000.00 in value outside of a trust, your assets will have to go through Probate. Probate is a lengthy and costly process that the Court must direct. A Revocable Trust is a substitute for the Probate Court, and can save your beneficiaries a lot of time and headaches.

There are many delicate variables to consider when creating a Revocable Trust, and you should seek legal advice. If a Revocable Trust is drafted incorrectly, your estate may still require the Court to sort out the confusion. At our free consultation, you will be able to sit down with Ms. Martinez and discuss what is best for your situation and your goals.