Living Trusts and Special Needs Trusts
What Will Happen To Your Assets After Your Death?
Have You Provided for the Long-Term Care of Your Dependents with Special Needs?
Contact Us to Learn How to Protect Your Assets From Probate or How You Can Provide for Your Special Needs Dependent.
A living trust is a legal document containing instructions about what you want to happen to your assets if you are incapacitated or upon your death. You can choose to transfer assets from your name into the name of the trust which you control.
You are usually the trustee and therefore you control the assets which you transfer to the trust. After your death, the successor trustee you have designated takes over and distributes the trust assets in accordance with the terms of the trust. The successor trustee can be an individual, professional trustee or corporate trustee (a bank or a trust company).
Unlike a will, there is no probate of assets held by the trust. Livings trusts avoid probate, which can be a costly and lengthy process.
If you own assets which are held in your name, such as a home or certificates of deposit, and want your loved ones to avoid the problems probate can cause, you should consider a living trust.
If you have a living trust prepared we recommend that you also prepare a will known as a “pour-over will”. Even if you forget to place some of your assets in the name of your trust, those assets will be transferred to your trust upon your death.
The Law Offices of Monroe Thomas Clewis focus primarily on legal issues pertaining to life planning for the elderly, as well as veterans Aid and Attendance and veterans benefits appeals. We are dedicated to handling your matters with the sensitivity they deserve.
Contact us today at (626) 405-0731 or fill out our online form to schedule a free 30-minute telephone consultation to discuss your options for helping your loved one.
We look forward to hearing from you.
Law Offices of Monroe Thomas Clewis
1055 E Colorado Blvd. Ste 500
Pasadena, Ca. 91106
Phone: (626) 405-0731
Fax (626) 405-0933
Available to meet with you at 24 convenient locations.