Family Trust Services
A Professional Legal Document Preparation Company
(626) 794.9011 (408) 268.4614
2476 No. Lake Ave., Suite 2, Altadena, CA 91001
6455 Almaden Expressway . Suite 205 . San Jose . CA 95120
Our Mission: Dedicated to helping families avoid Probate with a Revocable Living Trust.
Our Background: Established 1996 . . . A licensed Living Trust and Estate Plan Document Preparation Company ~ Better Business Bureau Accredited Business Rated A+. . . BBB Direct Line (408) 278.7400.
Certifications and affiliations of the firm’s principals include: National Institute of Certified Estate Planners (NICEP), Attorney Certified Trust and Estate Planning Paralegal, Santa Clara County Registered Legal Document Assistant (LDA), California Commissioned Notaries, California Licensed Insurance Agent (No. 0642553) . . . Such affiliations and licenses have provided qualified professional expertise in serving clients with Living Trust, Estate and Retirement Planning Services.
Our Business Practice: Since 1996, we have provided professional assistance in the preparation and execution of the Revocable Living Trust and Multipurpose Family Estate Plan. The documents and instruments are attorney reviewed and certified. Family Trust Services actively maintain affiliations with specialized legal entities who provide up-to-date legislative data ensuring compliance with California State specific document and procedure legalities. Such data include current mandates by California Probate Codes, California Business and Professions Codes, as well as IRS Codes related to the Unified Tax Credit [sections 2001 and 2010(a)] and California Health and Safety Code 7185-7194.5 (Life Support Issue).
Plus: Future (qualified) amendments are provided at no cost, in addition to notification of legislative changes that impact the trust.
Our Promise: Our clients are treated with sincere respect. We strive to provide the best possible trust and estate planning service . . . at an affordable cost.
Revocable Living Trust
50% Website Discount
DOCUMENTS & INSTRUMENTS
THE LIVING TRUST CERTIFICATION OF TRUST
LAST WILL(S) POWER OF ATTORNEY / ASSETS
POWER OF ATTORNEY / HEALTH PHYSICIAN’S ADVANCE DIRECTIVE
COMMUNITY PROPERTY PERSONAL PROPERTY TRANSFER
DEED PREPARATION SCHEDULE OF ASSETS
BUSINESS ASSIGNMENT EXECUTOR INSTRUCTONS
WHAT IS PROBATE ?
It is a judicial process where the State of California seizes the estate of a deceased person whose assets exceed $100,000 and the title of ownership is in the name of the deceased.
For this purpose, an estate is generally comprised of real property, bank accounts / investments and personal property . . . and
Probate is required in order to pass the estate to the rightful heirs of the deceased.
This also ensures that all creditors, liabilities and mortgages of the deceased are paid (from the seized assets of the deceased).
It is the opportunity for anyone to file a claim on the estate they believe is due to them. People literally “come out of the woodwork”.
For administering the estate on behalf of the deceased and the beneficiaries, fees are charged and collected by California (Probate Court System), attorneys, appraisers, accountants, administrators and all others connected with the process.
The estate of the deceased pay for these fees. The calculated average can range from as low as 4% to as high as 8% of the gross value of real and personal properties and cash accounts.
Example: a $700,000 estate will pay an estimated $28,000 to as much as $56,000 in legal, administrative and related fees.
A properly prepared living trust will avoid probate.
4 POINT ESTATE CHECK-UP FOR MARRIED COUPLES
WITHOUT A LIVING TRUST, estates are passed to heirs through probate . . . . a lengthy, very costly and frustrating process.
WITH A LIVING TRUST, estates can pass to heirs without probate.
WITHOUT A LIVING TRUST, (in joint tenancy), if a surviving spouse sold the house on or near the time of death of the first spouse, costly capital gains tax will be assessed on the deceased spouse’s joint tenancy half.
WITH A LIVING TRUST, a surviving spouse would not have to pay the capital gains tax if the house is sold for the appraised value at the time of death of the 1st spouse.
WITHOUT A LIVING TRUST, (in joint tenancy) a surviving spouse is totally unlimited in ability to will, gift or leave a deceased spouse’s (one-half community property) to anyone of his/her choice (such as a new spouse or family).
WITH A LIVING TRUST, the surviving spouse cannot will, gift or leave any remainder of a deceased spouse’s (one-half community property) to any one else other than the original beneficiaries named in the trust.
WITHOUT A LIVING TRUST, control of the estate is in the hands of the California probate system.
WITH A LIVING TRUST, the deceased couple would have left provisions which allow control of the estate to the people they choose, according to their instructions.
In addition, if your children are minors, you choose and appoint their guardians. Otherwise, probate will appoint the guardians.
Living Trusts Are Important
Procrastination can be costly
Without a Living Trust . . . . In order to pass property and assets to heirs . . . California Probate Codes require estates (in excess of $100,000) to be probated if the title of ownership is in the name of the deceased. Heirs can not inherit during the probate process, even if the deceased left a Will. (Joint Tenancy is clarified in a consultation).
With a Living Trust . . . No Probate ! Heirs inherit through the trust.
Without a Living Trust . . . Probate will seize your estate and tie it up for as long as two or more years. Legal and administrative fees cost thousands of dollars.
With a Living Trust . . . Heirs can inherit in as soon as 40 days after death – and estates avoid the unnecessary high cost and frustration of probate.
Without a Living Trust . . . Control of the estate is in the hands of the Probate system.
With a Living Trust . . . You control your estate during your lifetime and after death.
Establish a living trust and control the outcome of your estate in the event of unforeseen incapacitation or death.