Benefits of a living trust
- Avoids probate for assets held in the trust — saving time and the statutory fees described on our probate page.
- Privacy — a trust is not filed with the court, unlike a will admitted to probate.
- Incapacity planning — your successor trustee can manage trust assets if you become unable to, without a conservatorship.
- Protection for children — you can hold assets in trust for minors or young adults until ages you choose, instead of a court-supervised guardianship of the estate.
- Flexibility — a revocable trust can be amended or revoked while you have capacity.
Funding your trust
A trust only controls assets titled in its name. “Funding” means recording a deed to transfer your home into the trust, retitling bank and brokerage accounts, and coordinating beneficiary designations on retirement accounts and life insurance. An unfunded trust is one of the most common estate planning mistakes we see.
Irrevocable trusts
Irina also drafts the most common types of irrevocable trusts — for example, irrevocable life insurance trusts (ILITs) — for clients whose goals call for them. Unlike a revocable trust, an irrevocable trust generally cannot be changed easily once signed, so we discuss whether one fits your situation.
Common questions
Is a living trust better than a will in California?
For many California homeowners, yes — mainly because a funded trust avoids probate. Most trust-based plans still include a pour-over will to catch assets left outside the trust and to nominate guardians.
Do I lose control of my property?
No. With a revocable trust you are typically the trustee and beneficiary during your lifetime and can buy, sell, amend or revoke at any time while you have capacity.
Does a living trust reduce taxes?
A standard revocable trust does not by itself reduce income or estate tax. Married couples may include provisions that help with tax planning; the right approach depends on your estate.
General information about California law, not legal advice. Laws and dollar thresholds change; confirm current rules for your situation.