FAQ’s

WHAT IS A LIVING TRUST?

WHAT CAN A LIVING TRUST DO FOR ME?

SHOULD EVERYONE HAVE A LIVING TRUST?

HOW DOES A LIVING TRUST HELP IF I AM INCAPACITATED?

HOW DOES A LIVING TRUST HELP AT MY DEATH?

WHO SHOULD BE THE TRUSTEE OF YOUR LIVING TRUST?

WHAT ARE THE DISADVANTAGES OF A LIVING TRUST?

IF I HAVE A LIVING TRUST, DO I STILL NEED A WILL?

DOES A LIVING TRUST SAVE ESTATE TAXES?

DOES A LIVING TRUST PAY INCOME TAXES?

WHAT OTHER ESTATE PLANNING DOCUMENTS SHOULD I HAVE?

WHAT ARE SOME OTHER KINDS OF TRUSTS?

HOW DO I TRANSFER ASSETS TO MY LIVING TRUST?

WHAT ARE THE ADVANTAGES OF HAVING A LIVING TRUST?

Can I avoid probate delays?
Can I avoid probate costs?
Can I protect my estate from attack?
Can I avoid ancillary probate of real property located in other states?
Can I reduce or eliminate estate taxes?
Can I eliminate problems of guardianship or control?
Can I create a pour-over provision?
What about continuity of management?

ARE THERE OTHER ATTRIBUTES OF A LIVING TRUST?

Rights In a Living Trust
Obligations In a Living Trust
Inheritance With a Living Trust
Taxes With a Living Trust
Debts
Charitable Giving

ARE THERE OTHER ALTERNATIVES TO A LIVING TRUST?

The Will
Joint Tenancy
Miscellaneous Issues
Partnerships and Corporations
Bank accounts
Insurance Policies
Gifts
Issues Regarding the Revocable Trust

WHAT OTHER “PROTECTION” DOCUMENTS SHOULD I HAVE?

WHAT IS A POWER OF ATTORNEY?

WHAT IS A DURABLE POWER OF ATTORNEY?

WHEN SHOULD I USE A POWER OF ATTORNEY?

HOW MUCH POWER DOES A POWER OF ATTORNEY HAVE?

HOW DO I CREATE A POWER OF ATTORNEY?

WHAT HAPPENS IF I DON’T HAVE A DURABLE POWER OF ATTORNEY FOR FINANCES?

WHEN DOES A POWER OF ATTORNEY END?

WHAT IS A DURABLE POWER OF ATTORNEY FOR HEALTH CARE?

IS AN ADVANCE HEALTH CARE DIRECTIVE DIFFERENT FROM A DURABLE POWER OF ATTORNEY FOR HEALTH CARE?

WHAT IS AN ADVANCE HEALTH CARE DIRECTIVE?

IS AN ADVANCE HEALTH CARE DIRECTIVE DIFFERENT FROM A “LIVING WILL”?

WHAT IF I HAVE ALREADY EXECUTED A DURABLE POWER OF ATTORNEY FOR HEALTH CARE OR A NATURAL DEATH ACT DECLARATION?

WHO MAY I APPOINT AS MY HEALTH CARE AGENT?

HOW MUCH AUTHORITY WILL MY HEALTH CARE AGENT HAVE?

CAN I CHANGE MY ADVANCE HEALTH CARE DIRECTIVE?

HOW LONG IS AN ADVANCE HEALTH CARE DIRECTIVE VALID?

WHO CAN COMPLETE AN ADVANCE HEALTH CARE DIRECTIVE?

CAN I BE FORCED OR REQUIRED TO SIGN AN ADVANCED HEALTH CARE DIRECTIVE?

DO I NEED A LAWYER TO COMPLETE AN ADVANCE HEALTH CARE DIRECTIVE?

WHAT IS A DECLARATION OF HOMESTEAD?

ADDITIONAL OBSERVATIONS ABOUT THE HOMESTEAD LAWS

PROBATE COST SUMMARY

CALIFORNIA CODES

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RETAINER AGREEMENT