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A living trust can ensure estate protection

Contrary to popular belief, estate planning is not about dying but rather controlling assets and the distribution of those assets. In California, one of the most effective ways of ensuring an estate is properly protected is a living trust. By creating a trust, assets can be kept safe inside the family and away from lawsuits, bankruptcies and other creditors.

Although there are several types of living trusts, the most common are asset protection trusts, revocable trusts and irrevocable trusts. Asset protection trusts can be established for a set period of time and help to protect assets from creditors. Revocable trusts are trusts that can be changed and assets can be shifted, whereas an irrevocable trust cannot be revoked or changed. One of the main advantages of creating a living trust is the ability to avoid probate. Bypassing the probate process will not only save tons of time, it will also save a significant amount of money.

Wills and trusts are similar and often confused. The main difference between a will and a living trust is timing. With a living trust, the instructions go into effect immediately after documents are signed and notarized, as opposed to a will, which only goes into effect after death. Also, wills must pass through probate before assets are distributed and living trusts can avoid probate.  

By creating a trust, families can have peace of mind that assets will be protected and handled safely. Those in California who have questions regarding trusts, wills or estate planning could benefit from discussions with a legal representative. An experienced attorney could answer questions and provide much-needed guidance throughout the estate planning process.

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The Law Office of Araceli Tovar, APC

251 Madrona St.
Chula Vista, CA 91910

Phone: 619-869-4200
Fax: 619-869-4202
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