California does not actually have an estate (inheritance) tax that affects people with total assets under $12,900,000 per individual.  However, when you die without a trust (whether you have a will or not), your estate will be subject to the probate process, involvement of the court for nearly a year, delaying the distribution of assets, and costing upwards of $25,000 in legal fees.

Generally, trust amendments can be done for $250-$400.  A trust should be reviewed every ten years because life changes, people move, children are born, and we acquire new homes.  That’s when its time to update successor Trustees, add property to a Trust declaration and to update the county record.  We assist with all of this.

Many people worry about whether their assets will be taxed by the state or worse yet, all of their property will escheat to the state.  Well, I have good news and bad news.  In general there is no “death tax”, but California does have an inheritance tax for certain higher valued estates. 

One of the best reasons to place your assets into a Trust is to avoid taxes and the costly, time-consuming process of Probate.

Great question.  As we age, we feel it would be safe (upon our incapacity) to have someone who could transact for us financially.  Some think,… I will just add my grown son or daughter to my bank accounts.  Well, understand that there is a role as a ‘signer’ who can transact and an ‘holder/owner’.  If you make them an owner, when you pass the balance in the accounts becomes theirs.  What if you intended them to share those assets with others.  This is why your wishes should be expressed in a Trust and designating the Trust as the beneficiary of the account.

The checkbox or fill in the blank forms at various healthcare providers tips the decision making in their favor.  Instead, our Advance Healthcare Directives allow your trusted family to make decisions.  We forecast how much ‘end-of-life’ care you desire, keep you living in your house receiving care, decide about organ donation, cremation vs. burial preferences and several other personal decisions.

No.  Your Trust is the controlling document, but we execute with our Estate Plans, a Pour-Over Will for each person because in a Will you can nominate Guardians for children under the age of 18.  The California Pour-Over Will identifies the Trust as the controlling document and prevents even a flaw in the Trust from invalidating your wishes.

No.  We include the special language for Special Needs that instructs the Trustee that their benefit is protected and their inheritance cannot be used by the government to reduce their benefit.  This is a big advantage with our Trusts over the more inexpensive ones created online.

Yes.  You can instruct the Successor Trustee to distribute to beneficiaries based on their age… eg. “Give my son 25% at age 25 and the remainder at age 30.”  You can also place real property into the Trust to remain for family use (like a cabin in the mountains) and designate a manager to use Trust funds for upkeep.  A Trust instrument is very flexible and can accomplish very customized wishes!