Articles Posted in Living Trusts

As a single parent, you constantly juggle numerous responsibilities while ensuring your children’s future is bright and secure. I understand that your primary goal is to safeguard their future. I’m Jonathan Alexander, an experienced Orange County Estate Planning Attorney, with a passion for helping individuals, families, and business owners protect their assets and loved ones.…

In the heart of Orange County, California, there lived two married couples: Tom and Mary, and Jack and Susan. Both couples had successful careers, beautiful homes, and children they adored. They spent their weekends at the beach, enjoying the sun, and attending their children’s soccer games. Like many in their community, they knew estate planning…

Did you know that it’s National Estate Planning Awareness Week?  In 2008, the U.S. Congress passed House Resolution 1499 designating the third week in October as National Estate Planning Awareness week.  According to Caring.com’s 2022 Wills Survey, over 66% of Americans believe that having an estate plan is important, but only 1 in 3 Americans…

A revocable living trust is a type of trust that can be modified during the creator’s lifetime.  California residents commonly use revocable living trusts to: Name the individuals who will inherit your property (your “beneficiaries”). Avoid probate (a time consuming and expensive court proceedings where a judge determines who inherits your money and property). Avoid…

A trust is a contract. The person who creates a trust is called a grantor. The person who carries out the terms of the trust is called the trustee.  The persons or organizations who receive property or money from a trust are called beneficiaries.    The trust is, in essence, an agreement between the grantor…

How Does a Living Trust Work? A living trust is one of the most efficient estate planning tools available but there are some common misconceptions. According to a survey made by Caring.com only 42% of responders have created or prepared an estate plan. There are three reasons why someone may put off their estate planning:…

Common Mistakes with Living Trusts One of the first things we tell our clients is that the key to better protection for your assets is to prepare and fund your trust correctly. If you do not take the right steps, your family may end up in probate court. Failing to properly prepare will cost you…

Losing a loved one is a somber, sad event. Dealing with the aftermath is difficult for family, relatives, and friends. Besides the emotional toll, survivors have an unenviable task. They must determine how to transfer or inherit property from the person who died. In estate planning terminology, the person who died is the decedent. The…

Most of my clients create living trust centered estate plans. Living trusts have several advantages over will-centered estate plans. Drafting the living trust; however, is just the first step. Properly funding your trust is critical to ensure that you are prepared for the future. An error in the funding process could result in your assets…

A living trust is a legal document that describes how you want to transfer your assets when you die. In this fashion, it’s like a will but creating a living trust centered estate plan has several advantages. It allows you to avoid probate. The transfer of your assets can remain confidential. If you merely have…