Revocable Trust Lawyer Orange, CA

Revocable Trust Lawyer Orange, CA

Revocable Trust Lawyer Orange, CAAs your revocable trust lawyer in Orange, CA from Holborn Law can explain over a consultation, creating a revocable trust may be the best way to ensure your assets and property remain available for use to your benefit, should you suddenly become mentally or physically incapable of managing your affairs. If you were to become disabled and do not have a power of attorney or revocable trust, it may result in a lengthy and costly court proceeding, where a conservator or guardian is appointed before property can be utilized for you or your family. The benefits of having a revocable trust include: 

Avoiding Probate

A legal process that many people try to avoid is probate. This is when the validity of a will is determined by the court. Probate can be lengthy and costly, and is often described as one of the main reasons to have a revocable trust. As an example, if you have a revocable trust and real estate in more than just one state, you can avoid your estate from going through numerous probate proceedings.

Every jurisdiction is different when it comes to probate, so it is recommended that you consult with an Orange, CA revocable trust lawyer from Holborn Law to assess potential disadvantages of probate that would apply to your circumstances. 

Asset Availability Upon Death

Assets within a revocable trust after the grantor’s death are available to pay administrative expenses, estate taxes, and debts without having to wait for issuance of preliminary letters or probate decree. A trust that is funded prior to passing means the property in the trust stays in the trustee’s name and is promptly available for liquidation if there is a need to do so. 

No Interruption of Management

Another primary benefit of having written a revocable trust is being able to provide investment management that is uninterrupted should the grantor become unable to care for themselves, as well as after their death. If the assets were transferred and in the trust’s name, there is no requirement to re-register these securities after passing on. Furthermore, depending on the needs and investment goals of the grantor’s estate, there may be no necessity in developing a new strategy for investment. 

Call Holborn Law Today

While revocable trusts are not appropriate for every situation, they can be for many grantors and their families. For help deciding whether a revocable trust is right for your and your chosen beneficiaries depends on your specific needs and preferences. The choice to write a revocable trust is complex, and requires a legal consultation with a reputable legal professional. Contact a revocable trust lawyer in Orange, California from Holborn Law today for more information.