Revocable Living Trusts

Reliable Oakland Trust Lawyer

A living trust is a trust that is created when the settlor (the person who created the trust) is still alive. The most common living trusts are revocable. This means the trust can be altered or even revoked by the settlor while he or she is still alive. In most cases, a revocable living trust becomes irrevocable upon the death of the settlor.

Advantages of Living Trusts

• Avoidance of probate for the assets held in the trust. Instead of having a court enforce the provisions of a will, the trust can be set up to transfer assets immediately upon death, without the interference of a judge and the associated fees.
• By clearly setting out property and beneficiaries, the trust mechanism avoids having to rely upon an executor, as would be the case with a will. The transfers of assets are also private, whereas probate is a public process.
• A revocable trust can have an incapacity clause that allows financial matters to move forward even if the settlor is still alive but incapable of handling his or her financial affairs. This avoids having to pay thousands of dollars to have someone declared legally incompetent so that necessary decisions can be made.
• Flexibility. The trust can be modified while the settlor is still alive, allowing him or her to alter it to meet changing conditions. If the dynamics of the family changes, this will require changes in the trust.

Want to hear more about the advantages you could gain from a revocable living trust? Call (510) 328-4005 to set up a free initial consultation with an Oakland trust attorney.

My Role at the Law Offices of Steven M. Simrin Law

I am both a trust attorney and a CPA. I've had the training and professional experience to evaluate and advise my clients on the legal and financial aspect of trusts. I have over 20 years of experience in the field, guiding you to determine which type of trust best fits your circumstances and meets your unique concerns. I offer not only trust creation, but also trust management and administration and will defend the trust should a legal challenge or dispute arise.

Trusts can be complex and confusing. With my advice and counsel, you can be assured that your wishes will be adhered to, even when you are not able to manage your affairs. If you are unsure what type of trust is right for your circumstances, please reach out to my firm today to discuss this matter.

Trust in an experienced Oakland and Alameda County trust lawyer to help you carry out your wishes. Contact me today!