There are multiple ways to arrange for asset transfers to take place after you pass away. The two most common methods would be the creation of a last will or revocable living trust.
A revocable living trust may sound imposing, a vehicle that is only used by the rich. However, the truth is that these vehicles can be used to great advantage by people who would describe themselves as middle class. Indeed, it would be wise to discuss your unique situation with a San Jose estate planning lawyer before making any estate planning decisions.
Privacy is one of the reasons many individuals have found that they prefer a revocable living trust over a last will. The details of the trust are not a matter of public record. The disposition of the estate will take place confidentially and discreetly when you use a trust.
On the other hand, the administration of your estate is going to be supervised by the probate court if you use a last will. Probate is an open proceeding and the details are a matter of public record.
This is just one of the reasons why more people are opting for living trusts. If you have questions about the ideal way to proceed given your own financial situation, personal wishes, and family dynamic, don’t hesitate to pick up the phone to arrange for a free consultation with a licensed and experienced San Jose CA estate planning lawyer.
- Assisted Living: What is It, and is It Right for You? - October 7, 2021
- Is Your Married Joint Living Trust Too Complicated? (VIDEO) - September 27, 2021
- Litherland, Kennedy & Associates Law Firm Team Joins 2021 Walk to End Alzheimer’s - September 20, 2021