Ways to Avoid Probate by Planning for the Future Now

By
Real Estate Agent with Versailles Property CA BRE# 01791487

Living Trusts are one of the most widely used and advantageous way to avoid probate.

All types of assets can be transferred to a trust including bank accounts, real estate, stocks, mutual fund shares, cars, jewelry, and business or farm interests. Living Trusts help accomplish the following:

  • Maintain full control of your assets and manage your investments during your lifetime;
  • Provide for the management of trust investments at your death if beneficiaries are minors or are inexperienced;
  • Specify the circumstances under which distributions are to be made, when and in what amount; and
  • A living trust is revocable and you have complete control over its assets during your lifetime.

There are no adverse tax consequences to transferring property into a living trust as you can always add, subtract, and modify any assets held in your trust as well as change the beneficiaries or the amounts they receive.

As the Trustee, you are deemed responsible for managing the estate property and seeing that all the terms of the trust are carried out - much like the way you currently manage your property.

When estate planning is done properly, there is no need for probate. However, the fact is that many people never quite get around to doing their estate planning before something happens. visit my website for more information

Originally posted at http://housesinsocal.com/probate-info/avoiding-probate/

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Houses in Irvine California

Irvine CA REaltors, Realtors in Irvine

As a Realtor® in Orange County California I pride myself on helping those in sensitive situations and possible short sale transactions. Please contact me anytime if you need to buy or sell houses in Irvine California, need to deal with Probate in Orange County. I love helping first time home buyers find the right Irvine or Costa Mesa homes for them. Deepak@houseinSoCal.com

Ceel/Text: 949 748-9834

Irvine Realtors

 

Comments (2)

Tammy Emineth
Personal SEO - Website SEO and Real Estate Marketing - Marysville, WA
Content Marketer, SEO Teacher, Website Fixer

Excellent blog. I hope this gets out to a lot of people. You set up this post perfect!! :)

May 20, 2011 08:33 AM
Deepak Chauhan
Versailles Property - Irvine, CA
Irvine, CA ... the place to be

Thanks Tammy, I appreciate your input

May 24, 2011 04:47 PM