Legal Question in Wills and Trusts in California

Re: Living Trust validity

don't know whether or not your trust is binding or ever was. if it was, then the status of the drafting firm would not invalidate the trust. you need to retain counsel the review the trust, however.

Re: Living Trust validity

The question as asked displays a fundamental misunderstanding about a living trust. It is not a legal entity, but rather a contract that establishes certain obligations and relationships. Your trust document may benefit from revisions or not. There is no way of saying without reviewing the trust document and comparing it to your desires for what you want your trust to accomplish. The most common mistake people make with living trusts is not fully funding the trust. You should have no significant assets in your own name. You also need a valid durable power of attorney and an advance healthcare directive (AHD). If the the AHD has not been redone since 1993, it does not comply with HIPAA, a federal healthcare information disclosure and privacy law, and therefore, if for no other reason it should be revised.

I recommend you read my book "Create Your Legacy & Save the American Middle Class. How You Can Protect Your Family and Loved Ones in the Event of Death or Disability (Without Paying Legal Fees) and Win their Gratitude and Admiration" You can find this on one of my websites, www.yourlivinglegacy.info. It is short, in simple English and will explain everything you should know about these issues. Then you can decide what if any changes to make, and you can probably make whatever changes without paying a legal fee by accessing the downloadable forms on the website.

Let me know how you proceed. Also, if you want to subscribe to my free newsletter, you can do so at the site.

Reply: Living Trust validity

In a general sense, the existance or nonexistance of the firm that prepared your trust has nothing to do with the validity of the trust.

For a specific opinion regarding your individual circumstances, I suggest that you consult with an experienced estate planning lawyer. Experience is not expensive, it's priceless!

You will find some valuable information on various California family law and estate planning issues by visiting my web site.

Good luck to you!

Brian Levy, Esq.

www.calattorney.com

Re: Living Trust validity

The existence of the law firm that created your trust has no bearing on the validity of the trust. If the trust was prepared correctly, then it is still a valid document.

That being said, if your trust was created in 1993, you should have an estate planning attorney look over it. There have been a lot of changes to the Revenue and Tax Code, as well as applicable probate law. Further, it would be unlikely that you had a valid Advanced Health Care Directive set up, and you should have HIPAA and CMIA release forms drawn up. Most fifteen year old trusts that we see are best served by re drafting a new trust and estate plan. This is because either: A). tax planning decisions were built into the trust that is no longer appropriate, and in some cases even valid; B). the desires of the trustee often change dramatically.