1-877-cmsynergy/1-877-267-9637
Hyde Mulvihill APC Lawyers
216 W. Foothill Blvd (91016) PO Box 1007
Monrovia CA 91017
(626) 358-7471 Fax: (626) 358-2894
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Living Trusts Not everyone needs a living trust, but if you want to keep your privacy, it's really important. In general, the more likely it is that you will become incapacitated, the more helpful it is to have a living trust. The same thing applies if you have a lot of assets. If you are incapacitated and haven't nominated someone to manage your assets for you, the Court will do that. However, that means that everything you own becomes part of the public record. If you have a living trust when you die, your trustee will distribute your assets as described in the trust. The Court will not do that for you, so your privacy is protected. Obviously, you need to be careful about selecting your trustee. Most people don't realize it, but if you have a living trust, you also need a will. That is so assets that you have that are not in the trust are given to the trust when you die, and are distributed as described in the trust. Taxes. Taxes are an important issue. At a certain amount ($1,000,000 in 2006), your estate has to pay taxes. You can avoid paying unnecessary taxes if you have a properly planned estate. If you are a California resident and need a living trust, please e-mail SHyde@cmsynergy.com. The initial consultation is free.
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Cynthia Coulter Mulvihill, APC |
