Information Concerning Revocable Trusts

The Purpose of a Trust

A Revocable Trust, also called a Living Trust or Revocable Living Trust, is a legal document created by an individual to hold and manage his assets for him.  The trustee is the person that manages the trust with the benefits going to a beneficiary.  In most cases, the creator of the trust, the trustee and beneficiary are one in the same person.  A Revocable Trust can be amended or revoked as opposed to an Irrevocable Trust. 

The purposes for establishing a Revocable Living Trust are numerous.  If the person that established the trust becomes mentally incapacitated and can no longer manage his estate, a previously established successor trustee can take over the running of the estate, rather than having a court appointed guardian or conservator.  Upon the death of the individual, probate will be avoided and the assets from the trust will be passed directly to any beneficiaries after bills and taxes are taken care of.  A trust is a private document and court supervision and interference are avoided.  By retaining the services of a Los Angeles trust attorney, you can have a Revocable Living Trust drafted in order to retain control over your estate.

Trust Lawyer in Los Angeles

As with any future planning, there are many important decisions you need to make.  At Kerendian & Associates, Inc., we can go over in detail with you the differences between a will and a trust, what an Irrevocable Trust is and how it compares to a Revocable Trust.  We can help you determine what would be the best option in planning for your family's future.

Our experienced attorneys have favorably assisted many clients with these decisions in our years of practicing estate planning law.  If you feel that your estate is too small or are delaying having a trust established for any reason, we urge you to act upon your right to determine your own future rather than leave it in the hands of the courts.

If you wish to see to the security of your family's future, contact a Trust Lawyer in Los Angeles to answer your questions concerning a Revocable Trust.