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What if I am the successor Trustee of a Living Trust?

If you have been named as a successor trustee of a trust and the maker of the trust has passed away, you need to immediately contact an experienced estate planning and trust administration attorney. There are many time sensitive issues that need to be addressed upon the passing of an individual. If you don’t contact the attorney timely, you could actually be held liable for failure of your duty to contact the beneficiaries and notify them of the passing of the individual under the terms of the trust. I’m Lisa Alred [SP] and I’m a team member of Well Strategies Council. I would greatly appreciate the opportunity to assist you with your estate planning, trust administration and probate needs.

tags: estate planning living trust trustee wealth preservation wealth management tax laws probate trust trusts living trust wills powers of attorney annuity trusts family limited partnerships wealth strategies counsel jeffrey matsen jeff matsen lawyer legal law firm california ca orange county irvine newport beach santa ana huntington beach lisa allred

attorney: Wealth Strategies Counsel

What is a Living Trust in California?

A living trust is a written agreement between you as the client, as the maker of the trust and you as the client as the trustee of the trust or manager of the trust. And it's kind of like a will substitute, and I like to think of it as your own little, family company that you manage, and upon your death that family company continues on and avoids the probate process because you appoint a successor to take your place to manage the trust and distribute the assets according to your instructions. I'm Jeff Madson and I'm the founding and managing partner of Well Strategies Counsel. We help people preserve, protect and transfer their legacy to the next generation in the most cost saving and efficient manner possible.

tags: estate planning living trust wealth preservation wealth management tax laws probate trust trusts living trust wills powers of attorney annuity trusts family limited partnerships wealth strategies counsel jeffrey matsen jeff matsen lawyer legal law firm california ca orange county irvine newport beach santa ana huntington beach lisa allred

attorney: Wealth Strategies Counsel

How do I fund a Living Trust?

In order to properly fund your living trust you have to make sure that your assets that are owned by you in your individual name are changed so that title then reads "into your name as trustee of your trust." That often involves the recording of deeds, the transferring of title to bank accounts, investment accounts, certain brokerage accounts. Sometimes in events where there are specific situations, even life insurance. I'm Lisa Alright and I'm a team member of Wealth Strategies Counsel. I would greatly appreciate the opportunity to assist you with your estate planning, trust administration and probate needs.

tags: estate planning living trust wealth preservation wealth management tax laws probate trust trusts living trust wills powers of attorney annuity trusts family limited partnerships wealth strategies counsel jeffrey matsen jeff matsen lawyer legal law firm california ca orange county irvine newport beach santa ana huntington beach lisa allred

attorney: Wealth Strategies Counsel