Most of the time, depending on your circumstances, Wills are not as desirable as trusts because Wills must be probated. Wills are public documents that are open for inspection by anyone who wants to view your affairs. A living trust is private and only your trustee and beneficiaries will be allowed to inspect it. However, in some cases, a Will is necessary and the difference between these documents will be explained to you so that you can make an informed decision.
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20955 Pathfinder Road, Suite 100
Diamond Bar, CA 91765
We also service the cities of:
Pomona, West Covina, La Puente, Chino, La Habra, Fullerton, Anaheim,
Santa Ana, Norwalk, La Mirada, Santa Fe Springs
20955 Pathfinder Road, #100, Diamond Bar, CA 91765
(909) 843-6490 - Serving all of Los Angeles and Orange County
The Law Office of Sue C. Swisher can assist you in determining whether you need a Will, a Living Trust or if probate is necessary. The law firm is designed to counsel clients on all matters involving the transfer of assets in the event of disability or death, and to avoid court interference. Sue C. Swisher is also a Spanish speaking attorney and can assist clients who only speak Spanish without an interpreter.
The above mentioned documents serve a valuable purpose - they avoid probate. Probate is the legal process in which the court oversees that when you die, your debts are paid, and your assets are distributed according to your Will or according to California law if you have no Will. The disadvantages are many. First, it can be expensive. There are legal fees, executor fees, and other costs that must be paid before a total evaluation can be made of your assets. Second, it takes time. The court is in charge of the process and you have to wait until the court is ready for your case. It generally takes about nine months to one-year before distribution can be made. During the process, your assets are frozen until an evaluation is made. Nothing can be sold or distributed until the court approves it. Third, there is no privacy. Probate is a public process, and all your records are subject to public inspection by anyone.
A living trust is a highly effective document used to leave property to your chosen beneficiaries when you die. The biggest advantage of a living trust is that there is no court involvement. Your successor trustee manages your financial affairs according to your specific instructions in your trust. When you set up a living trust, you transfer assets from your name to your trust. You are the settlor and the trustee of your trust while you are alive. This means that you have complete control of your assets. When you die, your assets get distributed according to the instructions left in your living trust, and the court does not become involved.