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Be Sure to Fund your Living Trust

There’s nothing like the satisfaction that comes from finishing a well done job.  Unfortunately, there are some who have finally taken that step to create a Living Trust, but don’t take the final and most important step of “Funding the Trust.”  This means transferring title to your property correctly into your Living Trust.  This is the “finishing step” of creating a Living Trust.  

 

I have often heard from people who long ago paid to take the step of creating a Living Trust, or Revocable Trust, but never changed the title of their property to the name of the Trustee of the Living Trust. Others purchase property, or other investment items after creating the Living Trust, but never change the name on the property to their trust.

 

After the hard work of carefully writing such an important, individual and private document, you really want to “finish the job.”  When I help a client create an Estate Plan, I always include assistance to fund the Living Trust.  Once the Living Trust is funding, I know it is a job “well done.” 

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You should not use a “parts changer” to create an estate plan

Think about how much cars have changed.  A person we used to call a “mechanic” fixed parts to make your car run. Now it’s a “technician” who simply tests and replaces bad parts. Two different ways of thinking – fix it or just replace it, but to fix it you must know how it works.  More and more we live in a “replace it” world. Problem is some things should be custom made and carefully maintained.  Your estate plan is a great example. 

A good estate plan results in your wishes being carried out as you desire. Its important that your family is not harmed during estate planning or in the administration process by excessive fees, taxes, and court procedures. 

A lot must happen for a good estate planning result.  There are many moving parts, and many opportunities for the process to go wrong. Solid communication is key.  This is a very private process, and no one estate plan is ever alike. After it is created a good estate plan allows for some flexibility for changing circumstances, but does not need to be “replaced” when it needs a “tune-up”. An attorney knows all the moving parts and the big picture, and can custom make and fix them so they work best for you. 

You need someone who will be empathetic and appreciative of your emotional perspective so you can build trust and get to the answers that will give a good result.  You need someone who will design a custom estate plan designed to fit best for your situation. Please call me so we can talk about what is right for you.  Ronald T. Cole  – 858-565-4200.

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A Good Estate Plan helps you organize your life and gives you peace of mind

A long time client recently told me he has decided to get married. Both he and his fiancee’ are accomplished in business, and have families, prior marriages and pre-existing Estate Plans.   I congratulated him, and reminded him that a Pre-Nuptial agreement would be advisable.  The good news is that since he already has a good Estate Plan, including a Living Trust, he has taken the opportunity to create a list of his important belongings.  His Real Estate has the most value, but since he has an Estate Plan he already has the right list of his assets for the Pre-Nuptial Agreement.  One of the huge benefits of creating an Estate Plan is that it gives you the opportunity to create one central list of your most important belongings.  For most of us, that list will not change much over many years There are many additional benefits to knowing you have this information in one place, including peace of mind.  Visit my website at https://sandiegocustomestateplanner.com/ or Contact me for immediate help at lawofficeofronaldtcole@gmail.com    

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Make a List of your important assets – Part of creating a good Estate Plan including a Living Trust

A long time client recently told me he has decided to get married. Both he and his fiancée are accomplished in business, and have families, prior marriages and pre-existing Estate Plans.   I congratulated him, and reminded him that a Pre-Nuptial agreement would be advisable.  The good news is that since he already has a good Estate Plan, including a Living Trust, he has taken the opportunity to create a list of his important belongings.  His Real Estate has the most value, but since he has an Estate Plan he already has the right list of his assets for the Pre-Nuptial Agreement.  One of the huge benefits of creating an Estate Plan is that it gives you the opportunity to create one central list of your most important belongings.  For most of us, that list will not change much and will bring peace of mind over many years. There are many additional benefits to knowing you have this information in one place.  Visit my website at https://sandiegocustomestateplanner.com/ or Contact me for immediate help at lawofficeofronaldtcole@gmail.com.

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Welcome Back

After all this time staying away from people, I had the wonderful experience today to be at an outdoor event in a beautiful beach setting with lots of people to see and talk to. The opportunity to meet people after what seems like forever.  When people ask what I do and I tell them I am an “Estate Planning Attorney”, it seems like there are two kinds of people. Those who know they need one, and just have not done so for one of several reasons, and those who have no what an Estate Plan is, and the major benefit to having a Living Trust.  Everyone knows that planning for something makes the process easier and results in a better outcome.  It’s the same with planning for your death or incapacity.  The trouble with this one is you don’t get a second chance.  Contact me and I can explain how a good Estate Plan can help you and your family during a time that is often difficult enough.  Let me explain how easy it is to get started, and how I will work closely with you to make sure your plan is a custom fit for your life. 

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California Homeowners – You need a Living Trust!

I was looking at some statistics recently about how many people in California own real estate and don’t have a Living Trust. It’s sad that they will be leaving a giant expensive mess for their family, loved ones, or partners, and its all so easily preventable. The simple reason – Title to property can’t be changed unless you get an order from a Probate Judge, a long, expensive, frustrating, and public process. Unless, of course, the property is already owned by your living trust. Then, the process is simple, no judge needed. Want to know more? I give all the answers about what an Estate Plan is, and why you need one, in my latest video – “A Problem in America – The Lack of Estate Planning”.