Revocable trusts have many different benefits for people interested in estate planning in California. A revocable trust may also be referred to as a family trust or a living document, and it allows you a great deal of flexibility since you can update it over the lifetime of the person who created it. 
Bear in mind, however, that there is a common misunderstanding about revocable trusts that you are protected from legal liability if you get sued after you have created one. Technically, this is not accurate, because revocable trust does not transfer the assets out of your name since you still have the ability to update, amend or revoke the trust.Â
If you have assets that are collectively worth more than $184,000 in California, it may be appropriate to discuss revocable trust with an estate planning attorney. The only true way of avoiding probate and ensuring that your wishes are followed is to create a revocable trust. If you’re a homeowner in the state of California and have significant assets, you need to speak with an estate planning attorney.
This long-term investment can help to reduce friction and confusion for your loved ones after you pass away. It also makes things easier to transfer. Probate can be riddled with many different problems, including the time it takes to work through probate and potential challenges against a will.
Creating a revocable trust in California can be done with the help of experienced attorneys. Our Pasadena law office has helped many people by helping them create revocable or irrevocable trusts that support their needs.
