Why Do we need them?
- Avoid Probate;
- Protect childrens’ inheritance from divorce, lawsuits and creditors;
- Negate/reduce taxes;
- Protect the home and other assets from Medi-Cal claims;
- Protect inheritances of minor children from the Guardianship laws;
- Protect the financial security of the well-spouse, should the ill-spouse need nursing home care;
- Provide for a step-up in basis on 100% of the marital assets on the death of each spouse;
- Blended family provisions to insure the children of each spouse is not disinherited;
- Control distributions to children so as to avoid depletion by the child due to dependencies (drug, alcohol, gambling);
- Include Trust Protector provisions to avoid Court proceedings because of sibling or in-law rivalry and contests;
- No Contest and Spendthrift provisions to prevent intervention by creditors of beneficiaries;
- Provisions to insure the Court system has no authority over your Living Trust;
- Provisions for your pets should you become incapacitated or deceased.
- Provisions to insure a surviving spouse has absolute control and ownership of all Community Property after the death of a spouse;
- Provisions to amend the Trust to address changes in the law once a parent or spouse is declared incompetent.
To learn more, contact us.
