Estate Planning Attorney Brendan P. Brewer regularly prepares estate plan documents, including Wills and Revocable Living Trusts for clients throughout California, primarily in the Marin County communities of Mill Valley, San Rafael and Novato.
A Revocable Living Trust is a legal document prepared by an attorney that performs many of the estate plan functions of a Will. With a Revocable Living Trust, your assets, including your residence, investment accounts and stocks, are titled in the name of the Revocable Living Trust, held for your benefit during your lifetime, and then transferred to your beneficiaries when you die.
A Revocable Living Trust utilized in your estate plan will:
- Give the named trustee the legal right to manage and control the assets held in your trust.
- Instruct the named trustee to manage the trust's assets for your benefit during your lifetime.
- Name the persons who are to receive your assets when you die.
- Give guidance and certain powers and authority to the trustee to manage and distribute your assets.
A Revocable Living Trust can be a critically important part of your estate plan.
What other Estate Planning Documents should you have?
- Durable Power of Attorney
- Advance Health Care Directive
- Nomination of Guardians
Trust or Will - Which is right for you?
If you don't know whether a trust or a simple will can serve your needs, following are some of the things you'll want to consider.
Young individuals or couples without significant assets and without children really don't need a Revocable Living Trust. Similarly, people with very simple objectives likely will not need a Living Trust and a basic Will is sufficient. If you are concerned about making sure a court monitors the asset distribution process, Wills are closely monitored by the courts. The larger your estate, including real estate, the greater your need for a Revocable Living Trust.
For more detailed information on estate planning, please contact Estate Planning Attorney, Brendan P. Brewer. Email him at Brendan@BrewerLawOffices.com or call 415.492.0590.