In California, a revocable living trust is a popular estate planning tool because it allows the grantor to maintain control of their assets during life while ensuring a smoother transfer at death. Upon the death of the grantor, the trust automatically becomes irrevocable, meaning no further changes can be made to its terms. This shift…

Who owns the property in a trust? In California, when property is transferred into a trust, the legal ownership of that property shifts from the individual to the trust itself. The trust is a separate legal entity, and the trustee is responsible for holding title and managing the property according to the terms of the…

In California, a testamentary trust is a type of trust that is created through a person’s will and only takes effect after their death. Unlike a living trust, which is established and funded during the grantor’s lifetime, a testamentary trust comes into existence when the will is probated. Its primary purpose is to manage and…

In California, the cost of setting up a trust can vary significantly depending on the complexity of the estate and the professional assistance required. A simple revocable living trust for an individual with modest assets may cost between $1,500 and $3,000 when prepared by an experienced attorney. More complex trusts, such as those involving tax…

In California, an Asset Protection Trust (APT) is a legal structure designed to safeguard property and wealth from creditors, lawsuits, or other financial risks. The trust operates by transferring ownership of assets from the individual to the trust, managed by a trustee. Because the assets are no longer in the individual’s name, they are generally…