American Legal Documents has a qualified team to provide all services regarding a Living Trust in Los Angeles CA, Orange County and Rancho Cucamonga.
The main benefit of a living trust is the facilitation of a seamless and timely transfer of assets upon one’s death.
Ex. John wants to make sure his assets are distributed to the ones he loves. John creates a living trust.John names himself as the trustee and designates beneficiaries. Upon creation of the trust, John places assets (home, money in bank accounts, investments, etc.,) into the trust. John, being the trustee, maintains control of all assets and uses them as he sees fit. Upon death, these assets are distributed according to instructions set forth in the living trust.
This is known as a basic revocable living trust. They are revocable trusts, because one can change them, or even revoke them while still alive.