Our law firm will help you draft and create a California trust which is almost necessary for any California property owner to avoid the time and expense of probate court. Your trust will contain the provisions for the management and distribution of your assets while you are living and after you or a spouse has passed away.
How to Create a Trust in California
A trust can be a useful tool when planning your estate, but make sure you understand the state and federal rules that surround them. There are a number of steps that it takes to create a living trust in California.
1. You must pick a type of trust. If you are married, you have to decide if you want a single or joint trust. A joint trust allows the inclusion of property that each spouse owns separately as well as joint property.
2. You must take stock of your property. You will have to decide what you want to be in your trust. Gather the paperwork for your property such as certificates of stock ownership, titles to automobiles/other vehicles, and records of homeownership.
3. You must choose a trustee. This could be you or someone else. The trustee manages the assets in the trust. If you name yourself as the trustee, make sure to name a successor trustee to take over if you die or become incapacitated and can no longer oversee your affairs. You should also choose beneficiaries, the people or organizations who will inherit the property in the trust. The trustee or successor trustee is responsible for ensuring assets go to the beneficiaries.
4. You must draw up or have help drawing up the trust document. You can write the document yourself or you can get help from us here at MW Attorneys.
5. You must sign the trust. A notary must be present for this.
6. You must transfer your property to the trust. Known as “funding the trust.” This step is crucial, otherwise, the trust is empty when it’s passed on to your successor trustee. Paperwork is required and that is where our attorneys come in!