Affordable Living Trusts
and Pour-Over Wills

If You Own a Home or Have Minor Children
a Living Trust and Will are Important

Estate,Planning,Text,On,A,Wooden,Block,On,Black,Notebook
Closeup,Of,Hands,On,Clock,Face

A Revocable Living Trust is a preferred substitute for an outdated Will standing alone. Today, Living Trusts are combined with Pour-Over Wills to protect people and distribute their property, as they desire, upon death.

Michael Chulak prepared his first estate planning documents for clients, including Living Trusts and Pour-Over Wills in 1998, and has assisted hundreds of clients over the years. Michael is available to prepare all of the basic estate planning documents needed to protect you and those you love.

Most importantly, a Living Trust, if properly funded, will avoid the time-consuming and expensive probate process. Without a Living Trust, most estates end up in probate that can easily take six to twenty months before your property, including cash, can be distributed. With a Living Trust, the process takes only a few weeks at the most, while, saving precious dollars.

When you create a Living Trust, you become the Trustor, also known as the Grantor or Settlor. Only you can amend the Trust document or revoke or cancel it while you are living. You will also be the Trustee which means you have 100% control over the assets placed into the trust. This is referred to as Funding the Trust.

You will also name a Successor Trustee who will assume responsibilities when you are deceased or incapacitated. This person will transfer your property when you die, strictly according to the terms and restrictions set forth in the Living Trust document that you have approved.

Whenever we prepare a Living Trust for a client, we also prepare and include a Pour-Over Will. This is an important document. A Pour-Over Will is a companion document to a Living Trust. It covers property the Trustor has not placed into their Trust by accident or intentionally by the time of their death. While property outside a Living Trust often must go through probate, the Pour-Over Will directs that the assets be distributed according to the Trustor's intention as set forth in their Living Trust. Metaphorically speaking, the property not Included in the Living Trust is poured into the trust and distributed according to its terms.

The living trusts we prepare for clients are basic living trusts suitable for more than 90% of people. If our trust documents are not suitable for you because you need more than a basic trust, we will promptly inform you and can recommend an attorney if you need a referral.

Please visit our FAQ and Articles and call with any questions.

 

 

 

Statistic
There are approximately 342,000 people in the United States. One hundred percent of us are going to die. Only a small fraction of the population knows when they will die. According to available data, the total number of deaths in California each year averages 340,526 or 933 each day. This is 39 every hour. Consider establishing a living trust and buying sufficient life insurance to protect the people you love.


 

AffordableLivingTrusts.net
818-991-9019

We provide estate planning services in the following areas of Southern California:

Agoura Hills, Burbank, Calabasas, Camarillo, Carson, Glendale, Compton, Hesperia, Inglewood, Lancaster, Long Beach, Los Angeles, Malibu, Newbury Park, Oak Park, Ontario, Oxnard, Palmdale, Pasadena, Santa Clarita, Santa Monica, Simi Valley, Thousand Oaks, Van Nuys, Ventura, Victorville, Woodland Hills, Chatsworth, Encino North Ridge, Sherman Oak, Studio City, Tarzana, West Hills, West Lake Village, West Los Angeles

If you searched for any of the following terms, you have found the right website:

Advance Health Care Directive, Affordable Living Trusts, Avoid Probate, Durable Power of Attorney, Estate Planning, Guardianships, Health Care Directive, Inter Vivos Trust, Living Trust, Living Will, Pet Trusts, Pour-Over Will, Power of Attorney, Probate, Revocable Living Trusts, Simple Wills