If you own property (with or without a mortgage), you need a Living Trust, period. I’ll explain why, below.
THE PROBLEM In the last 10 years, I know of 3 clients who passed away without a Living Trust. A few of their loved ones are still struggling today trying to settle their estate.
When I ask my property owner clients if they have a Living Trust, eight out of ten unsurprisingly say they don’t have one. The reasons they give me are: 1.) No time to meet with an attorney, 2.) It’s confusing and they don’t know how to get started, or 3.) They can’t afford the attorney’s fees.
I am committed to helping fix this serious problem.
I HAVE SOLUTIONS FOR YOU
Although I am not attorney, I have enough of an understanding to help explain to you how a Trust works and what types of Trust are out there.
If you have a simple one property Trust, I may be able to help guide you to start your own Trust. Or, if your Trust is a little more complex, I can refer you to a few experienced Trust attorneys and give you a pre-checklist of what you need.
If you or someone you needs a Trust, click here to set an appointment with me:
WHY A TRUST IS IMPORTANT?
A Trust has three major functions, which I can explain in our meeting, but one of the main reasons people get a Trust is to “pass” property to your children or loved ones, with little delay and no court intervention.
If you don’t have a Living Trust, your property transfer will be held up in probate. Your beneficiaries may not be able to sell, repair, refinance the home until the probate process is over. The probate process now takes 1-2 years to complete and a judge will ultimately decided whom your property will go to.
This process is public and probate costs can range from 3-5% of the value of the assets. A million dollar home can cost your loved ones up to $50,000 in fees. The headache and fees can be dramatically reduced with a funded Trust.
Take action now and start 2018 in a stronger position. I look forward to meeting you soon to help in any way I can.
(BTW – Notary services are now offered at my South Pasadena office. Call Notary Blanca “Lety” Mena for assistance at 626-441-2284)
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