Living Trust
What Is a Living Trust?
A living trust is a legal document that allows you to transfer ownership of your assets to a third-party container (trust), which provides many benefits during and after your lifetime. It is also revocable and amendable, allowing you to make changes while you are alive and of sound mind.
A living trust is often the heart of a holistic estate plan. It works in conjunction with other important estate planning documents to provide the comprehensive protection you need to ensure your assets are protected and your affairs are carried out as planned.
What Are the Benefits of a Living Trust? Living Trust?
A living trust is an important estate planning tool that has become popular because of its versatility. It has many benefits during your lifetime as well as at and after death.
The Benefits of a Living Trust During Your Lifetime
A living trust protects you and your assets from probate while you’re still alive. It ensures that those you’ve appointed make legal, financial, and healthcare decisions on your behalf if you’re incapacitated for any reason.
The Benefits of a Living Trust at the Time of Your Death
The benefits of a living trust are numerous. Those benefits can ensure your assets and wishes are handled as you desire even after death. A living trust helps your estate:
- Avoid probate costs and delays
- Minimize taxes
- Specify who will receive your assets and how they will be distributed
- Protect your children’s inheritances against divorce and remarriage
- Provide incentives for your beneficiaries to accomplish milestones you designate, such as completing college or getting married
- Protect your beneficiaries' inheritances from creditors and financial inexperience
- Determine who gets family heirlooms and other treasured gifts
- Designate contributions toward charitable causes
- Ensure that your wishes are carried out after your death privately and without court interference
Who Should Have a Living Trust in California?
Anyone with assets exceeding $208,850 (2026) in California should have a living trust to prevent surviving family members from ending up in probate court. Going through probate is far more expensive than the cost of creating a living trust.
Since probate uses the gross value of any real estate (not your equity) to calculate fees, California homeowners may find it helpful to create a plan as soon as escrow closes.
Estimate your probate fees using our Probate Calculator to get an idea of what it could cost your family at your death.
How Can the Attorneys at Legacy APC Help You Create a Living Trust?
Setting up a living trust is in many people’s best interests. However, there are types of assets that are passed to heirs through other tools and strategies beyond a living trust. Therefore, it’s important to seek guidance from an experienced estate planning attorney who can craft a personalized estate plan for your specific needs.
At Legacy APC, we have an easy step-by-step approach where we guide our clients and slowly ease them into the process. We want you to feel comfortable and empowered to make these important decisions for yourself, your family and your future.
We then work to coordinate a custom-tailored estate plan that protects your assets and prevents conflicts, and family disputes from arising at the time of your death.
To learn more about what to expect when you work with the team at Legacy APC, watch our “Getting Started” and “What To Expect” videos. Our team is here to help—schedule your free consultation or call our office at (619) 696-0778 today.