Declaration of Trust
Abstract of Declaration
Pour-Over Will (2 if married)
Power of Attorney (2 if married)
Advance Health Care Directive (2 if married)
Vital Information & Historical Record
1 CA Quit-Claim Deed
Executor Worksheet
Mail or Drop off completed Questionnaire and 1st payment to:
FamilyLegal Docuement Services
129 North I Street, Suite A
Lompoc, CA 93436
Step 4 -
Upon completion Family Legal Document Services will call to schedule appointment for overview of trust package and to collect final payment.
Step 5 -
Have completed documents signed before a notary.
Step 6 -
Have county recorder of county (where property is located) record deed and transfer all assets to the trust.
Joint Trust
A living trust is similar to a will in that it lets you control who gets your property when you die. The primary benefit of a living trust is that it can help your beneficiaries avoid the expense and delay of probate of the assets transferred to the living trust before your death. Probate is the court-directed process of distributing a person’s assets and possessions after death. The probate court governs the distribution of your estate according to the instructions of your will if you left one, or if you did not, according to your state’s laws of intestate succession. At death, most property must pass through probate before it can be inherited. However, property transferred to a living trust prior to death does not. This is why most people prepare a living trust - to avoid probate.
Married couples often create an “A/B” or “Joint” trust. In a joint trust both spouses put their property into the trust. When one spouse dies that spouse’s property does not have to pass through probate. Also, the surviving spouse can use the property while he or she is alive. When that spouse dies the property passes to the trust beneficiaries. In a nutshell, you create your living trust, you then transfer ownership of your assets to the trust which you manage as the trustee and then those assets pass to your designated beneficiaries upon your death. In addition, if you become incapacitated or no longer want to manage your trust assets, your named successor trustee can take over the management of the assets for your benefit and then distribute them in accordance with your wishes upon your death.
Living Trust
A living trust is similar to a will in that it lets you control who gets your property when you die. The primary benefit of a living trust is that it can help your beneficiaries avoid the expense and delay of probate of the assets transferred to the living trust before your death. Probate is the court-directed process of distributing a person’s assets and possessions after death. The probate court governs the distribution of your estate according to the instructions of your will if you left one, or if you did not, according to your state’s laws of intestate succession. At death, most property must pass through probate before it can be inherited. However, property transferred to a living trust prior to death does not. This is why most people prepare a living trust - to avoid probate.
In a nutshell, you create your living trust, you then transfer ownership of your assets to the trust which you manage as the trustee and then those assets pass to your designated beneficiaries upon your death. In addition, If you become incapacitated or no longer want to manage your trust assets, your named successor trustee can take over the management of the assets for your benefit and then distribute them in accordance with your wishes upon your death.
Living Will
A living will allows you to convey your wishes regarding medical treatment when those wishes can no longer be personally communicated. It is a written document that states a your desires regarding life-support or other medical treatment being withheld or withdrawn in certain circumstances, usually when death is imminent or a state of coma or vegetation becomes permanent. It is either a separate document or part of a health care power of attorney, depending on the state in which you live. A living will enables you to make essential decisions for or against life support now to safe-guard your wishes in the event of a tragic occurrence.
Will
Many people use a will to accomplish their estate planning goals. A will is a legal document that indicates your desire about the distribution of your assets and property following your death. A will gives you decision-making control over who will be responsible to administer your estate and follow your wishes (the executor or personal representative), who gets what (the beneficiaries) and also, how and when they are to receive it. For those with minor children, what is most important is that a will allows you to state who you want to be responsible for the care of your children (guardian). Without a will these decisions will be made by the court, not you.
Wills however, are subject to probate. Probate is the court-directed process of distributing a person’s assets and possessions after death. The probate court governs the distribution of your estate according to the instructions of your will.
