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Protect Your Estate From greedy lawyers, guardians, administrators. estate appraisers and bonding companies intent upon depriving your rightful heirs of assets you have worked a lifetime to accumulate. Probate Costs To Much In California Probate fees payable to Lawyers alone are as follows: Estate size Fee $ 100,000 $ 4,000 $ 250,000 $ 8,000 $ 500.000 $13,000 $1,000,000 $21,000 If an Executor or Administrator is involved you can double those amounts! Then add guardians if there are children, appraisers and bonding companies, etc. Minimize Taxes Federal Law now exempts the first $1,000,000 of an inheritance from inheritance tax. However the surviving spouse of a couple with an AB Living Trust can take the share of the deceased spouse at a stepped up basis to current market value and any Long Term gains paid on a subsequent sale will be at the stepped up rate, a huge benefit. See your Tax advisor. Orderly Transfer of Assets upon Death Your estate passes immediately, through the Trust upon your death to your beneficiaries and heirs. Reduce Time to Pass Assets Probate generally requires from 2-5 years to close and distribute an estate. With a Living Trust everything is already done and in place and the heirs and beneficiaries simply "step into your shoes" The Trust Gives You: Control As the creator of the Trust you name yourself Trustee. You retain full control over the Trust and all of its assets. You may alter, sell or give away any of the Trust assets Flexibility Your Trust is a revocable Living Trust, as such you have the flexibility to change the terms or beneficiaries of the Trust at any time. You may abolish the Trust if you wish. Simplicity The person you want to be the beneficiary of the Trust, usually your spouse is called the Successor Trustee. Upon your death, the Successor Trustee takes over the estate and may immediately terminate and distribute the Trust without ever going through Probate Simplicity itself. Having a Trust, Do I Still Need A Will? Yes Although it is suggested that you review your Trust and update it every year or so. It is only human nature to prepare it, then stick it in a safe place and promptly forget about it. Years pass and you acquire other assets, some or all of which are not properly added to your Trust. For these "After acquired Assets", or possibly for anything you overlooked or left out at the time of the formation of your trust, a SIMPLE WILL is essential. Simply stated, your Simple Will can "sweep" any overlooked asset into the Trust, otherwise it may be subject to Probate. How Do I Get Started? Fill out the enclosed questionnaire, which is designed to give us the information we need to assist you in preparing your Living Trust and Will. Then call us and we will direct you on how to proceed.
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