Minimize taxes.

While there is no estate tax levied by the state of California, the federal government does collect estate tax on the transfer of high-value estates. A living trust helps reduce or eliminate federal estate taxes for a married couple, passing assets from one spouse to another without imposing taxes.

Protect their future health.

Living trusts provide protection if you are suddenly unable to manage your affairs. If you become incapacitated, control of all trust assets immediately passes into the hands of your successor trustee, allowing them to make decisions about trust assets without the need to go to court.

How Do I Create My Own Living Trust?

Living trusts are created with a trust document. A trust document is a legal contract that outlines the details of the trust, including who will act as trustee, how it will be run, names of beneficiaries, and how and when distributions will be made. Once the document has been completed, it must be signed in front of a notary public.

While you do not need an estate planning attorney to print and sign a trust document, the trust will not be functional until you have transferred ownership of your assets into the trust. This mistake happens all too often, as people assume they are protected while their trust sits empty—costing their heirs thousands after their death. When we create your living trust, we ensure the right people will inherit your assets, at the right times, and on the right terms.

At The Law Firm of Kavesh, Minor & Otis, Inc., we understand that there is a stark difference between estate plans that work properly and those that don’t. Our experienced legal team can create a comprehensive and customized plan to give your family peace of mind. Contact us today to get started!

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.