Revocable Living Trust Lawyer in California

Revocable Living Trust Attorney Represents Clients in Los Angeles and Throughout California

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Revocable living trusts are created during people’s life times, rather than after they pass away, in order to hold and manage certain property and assets. The person who develops a revocable living trust is referred to as the grantor or settlor, and the individual who manages the trust is known as the trustee. For revocable living trusts, the grantor usually serves as the trustee, deciding what assets should be used to fund the trust and how the trust will be administered.

At the Law Offices of Darrell C. Harriman, I have been helping clients develop and administer revocable living trusts for more than four decades. While I have the experience necessary to help each of my clients devise comprehensive, effective trusts, I also have the dedication, integrity and skills clients can rely on to develop the best estate planning solutions for them.

Benefits of Setting up Revocable Living Trusts 

Setting up revocable living trusts can provide various benefits to the grantors and their families, only some of which can include:

• Avoiding probate – After the settlor passes away, the property and assets held by a revocable living trust will not have to pass through probate and, instead, will be distributed to the appropriate beneficiaries (who have been named in the trust documents) by the successor trustee. This can minimize beneficiaries’ stresses and costs while allowing them to gain ownership of some property or asset sooner than if they had to wait for the conclusion of the probate process.
• Maintaining privacy – While wills become matters of public record when they pass through probate, trusts will not become public because they don’t have to be probated. This ends up meaning that a settlor can maintain his and his family’s privacy, and this can be an especially appealing option for families that may be in the public eye and/or that may have substantial assets.
• Reducing estate tax obligations – Estate tax obligations can be substantial after someone passes away, and revocable living trusts can be devised so as to minimize these tax obligations and to ensure that the majority of a trust’s assets go to the beneficiaries (rather to government entities).
• Meeting the estate planning needs of a blended family – When families include children from previous relationships, revocable living trusts can include terms that provide for each of these children, including those who may still be minors.

There can be other benefits to setting up revocable living trusts, based on a person’s specific situation and wishes, so contact a North Hills trusts attorney at the Law Offices of Darrell C. Harriman to learn more about your options and how these types of trusts may benefit you and your family.

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