A living trust is essential for nearly every Californian with more than $25,000 in real estate or $100,000 in other assets.
That's because your living trust can protect you if you become too ill to manage your financial affairs. It can also save your loved ones from the expensive hassle of a probate after you die. If you're married, your trust could be the key to making sure your spouse and your children don't have to pay unnecessary taxes. Plus, the right kind of living trust can even protect the inheritance you leave to your loved ones from lawsuits, divorces, and other predators.
Ultimately, your living trust will be how you say "I love you" for the last time to the most important people in your life.
It's that significant.
But experience shows us that roughly eight out of ten living trusts -- eighty percent (80%) of them -- don't work when they are tested.
Why do so many living trusts fail? Primarily, it's because the public has been badly misled into thinking that one trust is just like another and that one lawyer is just like another.
Nothing could be further from the truth.
We know a Lexus is built better than a Yugo. It's the same with a living trust. One that really protects your family is designed better than the one you could get from an online service, software, or your average, high-volume, document-selling lawyer.
Plus, just like that Lexus, your living trust must be properly operated and maintained for it to work when it's needed. Think about it... can you buy a car, park it in your garage for 10 years, and then expect it to work correctly in an emergency? Of course not!
In the same way, a trust must be "serviced" so it stays up-to-date with the latest laws and planning techniques. The many rules and regulations that affect a living trust have changed dramatically in the last 10 years. Most trusts haven't kept up.
And don't forget that your family circumstances -- financial and otherwise -- are likely to change over time. Your trust must reflect life as it really is at the time you've got to rely on it.
Fortunately, our clients' estate plans do work when they're needed. That's because we keep in touch with them for life. We are able to make sure our clients get more than their money's worth. Our clients depend on us to be there for their loved ones when they get sick or pass away. That's real peace of mind for them, and it's great joy for us.
Having a living trust that actually protects you and the ones you love is the whole point. If it doesn't do the job well, or if it's a huge hassle, what message does that communicate to your loved ones? What does it say about your lawyer?
If you want to learn more about our fees for putting together a foundational estate plan (including, in most cases, a living trust), please see our Three Levels of Planning page. Remember that our plans are always custom-designed with your family's unique circumstances in mind. They contain state-of-the art technology and are far superior to what you could do on your own -- or what the trust mills do.
Most importantly, our planning is competitive in cost with those very few lawyers in the Sacramento and Roseville areas who build long-term relationships with their clients. It's the relationship -- the long-term follow up and maintaining of your living trust -- that will keep you from being one of the 80% who leave a big mess for your loved ones.
When you are ready to have a living trust that really protects you and those you love, or if you would like us to review an old trust to see if it needs updating, please contact us. Don't put it off any longer. You and your family are worth doing it right!
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