Law Offices Of Michael B. Furman - Quality and Sophisticated Legal Services for Over 28 Years  

Why A Living Trust
Protect Your Property and Your Family
With a Revocable Living Trust


A Revocable Living Trust Estate Plan is a package of legal documents that can provide you with the following benefits:

Avoid Probate if you die
Avoid Conservatorship if you become incapacitated and Guardianship if your children are minors
Control the distribution of the property to your children or other beneficiaries until they have the maturity and skills to properly manage them.
Obtain the income tax benefit of holding title to property as community property (married couple).
Reduce or eliminate your death tax obligations (married couple)
Protect the property from the beneficiary’s creditors
Title to Your Assets Can Have Major Legal and Tax Consequences

Court Proceedings: If you die without a living trust, your assets must go through a court procedure called “probate” which is time consuming and expensive. If you become incapacitated and do not have a living trust, a court procedure called “conservatorship” may be required to manage your assets. If you have minor children at the time of your death, a court procedure called “guardianship” may be required until the children reach the age of majority; then they receive their inheritance even if they lack the maturity and skills to properly manage it.
Taxes: If a married couple holds title as “community property,” the income tax on premortem appreciation is entirely eliminated at the death of either spouse. This benefit is not available for property held as joint tenants.
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