Helping to keep our community informed is important to us. We regularly get out into the community to provide helpful information to people here in the greater Bay Area. To this end, we present an ongoing series of informational workshops covering various elder care and estate planning topics.
Our workshops and seminars are free of charge and open to the public. During the next two weeks, we will be offering seminars that focus on living trusts.
Why Consider a Living Trust?
Some people are under the impression that trusts are only useful for extremely wealthy individuals. This is not the case.
It is true that some trusts are used by high net worth families to gain estate tax efficiency. However, there is another type of trust that is very useful for people of ordinary means called the revocable living trust.
With a living trust, you facilitate a smooth and timely transfer of assets to your loved ones after you pass away. The trustee follows the terms that you set forth in the trust agreement. This individual or entity distributes monetary resources to the beneficiaries outside of the process of probate.
If you use a will to arrange for the transfer of your property, the process of probate will slow things down considerably. At a minimum it will take months for your heirs to receive their inheritances. Some complicated cases wind up in probate for multiple years.
Since assets that have been conveyed into a revocable living trust are not subject to the probate process, the beneficiaries that you choose receive their inheritances in a fast and efficient manner.
You Retain Control While You Are Living
Another misconception that people have about trusts is the notion that you lose all control of assets that you convey into any type of trust. With a revocable living trust, you retain complete control of the assets.
While you are living, you can serve as both the trustee and the beneficiary. You can change the terms, and you can revoke or rescind the trust at any time.
Living Trust Seminar Registration Information
Now that you know a little bit about living trusts, you may want to gain some additional information. Our seminars are being offered on January 18, 20, 24 and 27. You can visit our seminar schedule page to see the complete schedule.
The seminars will provide you with a great deal of very valuable information, and once again, these informational sessions are being offered free of charge. You will have the opportunity to ask questions, and you will be able to schedule a free one-on-one consultation with our firm if you would like to take the next step.
Litherland, Kennedy & Associates, APC, Attorneys at Law
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