Living Trust
Contrary to what many people believe, the concept of the revocable living trust has been around for centuries. Trusts were originally invented as a way to prevent the King of England from confiscating property.
While times have changed, the concept is quite simple: A revocable living trust is a legally enforceable testamentary document that becomes irrevocable upon the death of the person who established the trust. While this description probably does not sound too different from that of a normal will, there are some important differences.
Specifically, revocable living trusts are privately administered documents. This fact alone has made living trusts the preferred method to avoid the perils and expense of probate. While we are no longer concerned with avoiding confiscation by the King of England, living trusts provide the only sound option to avoiding confiscation of time and money by the state and federal government and the probate courts. Furthermore, a living trust package created by the Kelly Law Firm offers more than simply a probate avoidance document. Your living trust will include a power of attorney for health care, power of attorney for asset management, guardian nominations for your children, a pour-over will, and everything you need to ensure your property has a smooth transition into the hands of your loved ones.
Wills
A will is a legal instrument that permits a person, the testator, to decide how his or her property should be distributed after death. The will gives instructions to a person, the executor, to be realized after the testator passes away. The instructions to the executor are performed under the supervision and jurisdiction of the Superior Court.
A professionally drafted will is a straightforward document that dictates your intent in a similar fashion to that of a living trust. Not everyone, however, requires the complex presentation of a trust. There is peace of mind in simple things.
Our Process
At the Kelly Law Firm, we believe that estate planning should be a fundamental right. We believe that you should have the opportunity to design a comprehensive, yet affordable, plan that will ensure a smooth transition for your family and loved ones.
That is why we are dedicated to providing members of our community affordable Wills and comprehensive Living Trust packages.
For more information about whether a will is the right choice for you or about the flexibility of a revocable living trust, call the Kelly Law Firm, Orange County, Los Angeles, and Long Beach Estate Planning and Living Trust attorneys at (562) 548-7500.