Living Trusts in California: What They Are and Why You Might Need One
If you're planning for the future and want to protect your assets and loved ones, setting up a living trust in Los Angeles could be one of the smartest decisions you make. At the Law Office of Mitchell A. Port, we help Californians create comprehensive estate plans that minimize court involvement, reduce stress for family members, and ensure your wishes are carried out smoothly.
What Is a Living Trust?
A living trust (also known as a revocable trust) is a legal document that allows you to place your assets into a trust during your lifetime. You maintain control over the trust while you're alive, and upon your death, your chosen successor trustee manages or distributes the assets according to your instructions—without going through probate.
Unlike a will, which becomes active only after death and requires court oversight, a living trust operates during your lifetime and continues after death or incapacity, streamlining the entire process.
Benefits of a Living Trust in Los Angeles
Here are some of the top reasons why residents of Los Angeles and throughout California choose to establish a living trust:
1. Avoid Probate in California
Probate in California can be time-consuming, costly, and public. A living trust allows your loved ones to avoid probate, saving them months or even years of court delays and unnecessary fees.
2. Maintain Privacy
Unlike a will, which becomes a matter of public record once filed in probate court, a living trust remains private. Your assets and final wishes won't be disclosed publicly.
3. Plan for Incapacity
If you become incapacitated, your successor trustee can manage the assets in the trust on your behalf, helping you avoid the need for a court-appointed conservatorship.
4. Flexibility and Control
You can change or revoke your living trust at any time while you're still mentally competent, giving you complete control over your estate planning decisions.
5. Provide for Minor Children or Special Needs
A living trust gives you the ability to structure distributions for minor children or family members with special needs, ensuring they are financially supported without jeopardizing government benefits.
How Does a Living Trust Work Under California Law?
In California, a living trust must be properly drafted and funded to be effective. This means that after creating the trust document, you must transfer ownership of your assets (such as real estate, bank accounts, and investment accounts) into the name of the trust.
California law allows for considerable flexibility in trust creation, but it also has strict requirements—especially when it comes to ensuring the trust is valid and enforceable. That’s why working with an experienced Los Angeles estate planning attorney like Mitchell A. Port is essential.
Living Trust vs. Will: What’s the Difference?
While a will can still be useful for naming guardians for minor children or disposing of assets not included in a trust, a living trust is often the more comprehensive solution for managing your estate. Under California law, when you have a living trust you are still required to have a will even though the will usually has a secondary role in carrying out your wishes.
Is a Living Trust Right for You?
If you own property, have significant assets, or simply want to avoid probate in California, a living trust could be the right tool for your estate plan. Every family is different, and personalized guidance can make a world of difference.
At the Law Office of Mitchell A. Port, we’ll help you evaluate your goals, explain your options, and create a plan that gives you peace of mind.
Get Help Creating a Living Trust in Los Angeles
Ready to take the next step in protecting your legacy? Contact the Law Office of Mitchell A. Port today at (310) 526-3433 to schedule a consultation. We proudly serve clients throughout Los Angeles and Southern California.
Don’t wait for the courts to decide what happens to your assets. Call (310) 526-3433 now and take control of your future with a living trust in Los Angeles.