Revocable Trust & Living Trust Lawyer in Marysville
A living trust (also called a revocable trust) is a powerful legal document that serves as a partial substitute for a will. For residents of Marysville, Yuba City, and the greater Yuba-Sutter area, a revocable trust is often a key component of comprehensive estate planning.
How Does a Revocable Trust Work?
Upon creation, your assets are transferred into the trust and administered by a trustee during your lifetime for your benefit. When you pass away, your assets transfer directly to your named beneficiaries. As the creator, you can:
- Name yourself as trustee during your lifetime
- Appoint a successor trustee to manage affairs during your incapacity or after your death
- Amend or revoke the trust at any time during your life
- Maintain complete control over your assets
Key Advantages of a Living Trust
- Avoid Probate: Assets pass directly to beneficiaries without court supervision, saving time and money.
- Privacy: Trust documents are not public record, unlike probate proceedings.
- Management: Your trustee can manage and distribute assets without court oversight.
- Incapacity Planning: Your successor trustee manages assets if you become incapacitated.
Potential Disadvantages
- Initial Cost: Preparation of a living trust typically costs more than a simple will.
- No Court Supervision: Without court oversight, disputes may be harder to resolve formally.
- Estate Taxes Not Eliminated: A common misconception is that living trusts eliminate estate taxes—they do not.
Is a Revocable Trust Right for You?
Our Marysville and Yuba-Sutter estate planning attorneys can help you determine whether a living trust fits your situation, or if a combination of a will and trust works best for your family.
Schedule Your Consultation
Contact Rich, Fuidge, Bordsen & Galyean, Inc. today at (530) 742-7371 to discuss revocable trusts and your estate planning needs.
Rich, Fuidge, Bordsen & Galyean 