Legal Question in Real Estate Law in California

Re: Do I need a living trust? If yes I need to hire a Attorney

Here I am.

Re: Do I need a living trust? If yes I need to hire a Attorney

The biggest advantage of a living trust is that it allows you to avoid the probate process when you pass away. It will take 8 months to several years to transfer your house through probate and you will pay attorneys' fees and costs of approximately 4-8% of the gross value of your estate if your heirs have to go through probate. You also need to think about planning for incapacity and your minor children. See an attorney for more details.

Re: Do I need a living trust? If yes I need to hire a Attorney

I no longer do estate planning, so my opinion is unbiased, you definately should have one. If you need a referral, I can provide.

JOEL SELIK

Attorney at Law www.SelikLaw.com

800.894.2889

760.479.1515

702.243.1930

Licensed to Practice Law in California and Nevada

B.A. Industrial Psychology, B.S. Human Communications

CA Real Estate Broker, CA Superior Court Judge Pro Tem, Mediator/Arbitrator

CONCENTRATING IN ELDER ABUSE, LITIGATION AND COLLECTIONS

Personal Injury, Contracts, Tax Matters, Business,

Malpractice, Appeals, Elder Neglect/Abuse/Nursing Home Malpractice

Real Estate, and Other Legal Matters

This is just general information. No representations are made and no attorney client relationship is established by this communication. In most matters there are strict time limitations within which actions may be taken or your rights will be compromised. We are not taking any action on your matter and will not be considered your attorney or tax representative until both you and we have signed a fee agreement.

We, therefore will take no action on your behalf unless a written retainer agreement is signed. There are strict deadlines, called statutes of limitation, within which claims or lawsuits must be filed. Therefore, if you do not retain SELIKLAW, you should immediately seek the services of another attorney or other advisor.

Re: Do I need a living trust? If yes I need to hire a Attorney

Whether you need a living trust depends upon your circumstances and your desires for your property upon your death and/or the death of your wife.

A living trust will generally keep your property out of probate. The reason that most people want to avoid probate are the costs involved as well as the the time it takes.

Probate typically costs 4% to executor and potentially another 4% to the attorney for the executor. While this does not seem to be that much, if you think about your home with a value of $500,000, 4% is $20,000. Thus, you have the potential ability to avoid that by taking steps now.

Also, you will probably want to think about circumstances such as laying out your wishes and giving a power of attorney for healthcare to have someone that you trust make those medical decisions when you are incapacitated. In other words, try to avoid Terri Schiavo issues by acting now.

Let me know if I can help.

We have a friendly, easy-going manner to meet with you, in person, telephonic, or email, discuss your needs and prepare paperwork.

J. Caleb Donner

Re: Do I need a living trust? If yes I need to hire a Attorney

Trusts are complex items and should be discussed with an attorney during a confidential discussion. These boards are hardly that.

Please feel free to learn more about trusts and estates and how to avoid probate and its high fees on our firm's website at www.No-Probate.com.

When finished, feel free to contact me to set up a free consultation through that site or with the contact information provided by LawGuru.

I'm glad to see that people are looking to learn more about trusts and how to avoid probate.

Scott Linden

Re: Do I need a living trust? If yes I need to hire a Attorney

Yes you should have a living trust. It will avoid thousands of dollars in fees and costs and the delay of probate and keep every thing private.

A complete estate planning package will provide for every possibility. We provide pour-over wills, transfers of property into the trust, powers of attorney for assets, nomination of conservators, powers of attorney for health care, advance health care directives and so forth.

A proper living trust provides for the creation of the trust and the funding of the trust. I have seen numerous estate plan's done impropertly resulting in huge fees.

If you would like a free initial consultation, please call me or e-mail me with contact information. I have over twenty-five years experience.

Good luck and thank you for your inquiry.

Re: Do I need a living trust? If yes I need to hire a Attorney

Whether a living trust is for you depends on your circumstances. There may be an easier solution to achieve the goal you have in mind.

Feel free to give us a call to discuss your situation.