Legal Question in Wills and Trusts in California

Re: Is a Living Trust still important when your assets are under a loss?

Whether the house is going up or downinvalue is irrelevant.

If your wife is the beneficiary of your 401K and your life insurance policy they will go directly to her withut a probate.

There are a lot of things to consider in determining whether a living trust is appropriate.

If your estate is under $1,000,000 and all of your assets are community property you may not need a trust. But you need a Will if you don't already have one.

It is impossible for anyone to properly assess your needs without know your assets, family situation and desires.

Re: Is a Living Trust still important when your assets are under a loss?

You don't sign up for a living trust. Youhave much you need to learn. I suggest you get and read my book "How You Can Protect Your Loved Ones in the Event of Death or Disability (Without Paying a Legal Fees}" Not only does it explain virtually everything you need to know in plain English, but it contains in the Appendix a copy of the Legacy Living Trust Package. This is a complete trust package for the Middle Class including a Living trust for single or for married people, a durable general power of attorney, an advance healthcare directive, an Abstract of Trust, all necessary transfer documents and instructions. Having taught literally hundreds of seminars to thousand of regular middle class people, I have learned how to answer the most important questions in language understandable to all. Having learned over 30 years that most people that go to an attorney to pay $1200 or more for these documents don't understand the language in the unnecessarily complicated documents, don't understand what they are doing and why, and ofen make common but avoidable mistakes, I created the Legacy Living Trust Package.

You can order the book on-line at Amazon.com, but, it is better to order at www.IWant2CreateMyLegacy.com. If you order there, you will get a free special report entitled "The Seven (7) Most Common Mistakes Made by the Middle Class in Planning For the Inevitability of Death and the Likelihood of Disability, and How to Avoid Them." This report alone could save you and your family hundreds of times the cost of the book.

Again, the book is, to my knowledge, the only one written for regular people in the middle class, and it contains in an appendix the Legacy Living Trust Package, which to my knowledge is the only complete fill-in the blanks trust package written in simple English ("People Ease", not "Legalese") that will be valid in every State in the US.

Re: Is a Living Trust still important when your assets are under a loss?

you need to retain an estate planning attorney for a meaningful consultation. to answer your question, you can probably accomplish your goals without a trust.