Estate
Planning: Wills, Trusts, Living Trusts See our detailed Estate Planning FAQ Estate Planning lawyers at The Rishwain Law Firm can assist you with all of your Estate Planning needs. Our California Estate Planning lawyers have decades of experience with Wills, Trusts, and more. If you are looking for an Estate Planning lawyer, please call The Rishwain Law Firm and ask to speak to our experienced Estate Planning lawyers. Revocable Living Trusts have become a popular estate planning vehicle over the last few decades, and for good reason. There is also a considerable amount of confusion and lack of understanding concerning the differences between a traditional Will and a Revocable Living Trust. The advantages of a Revocable Living Trust over a Will are significant. Some of the advantages include: 1. A Will must go through the Probate Court process. A Revocable Living Trust does not. 2. The Probate process is an expensive process which includes Executor fees, Attorney Fees, Court costs, and possibly Extraordinary Fees. The fees and costs of a Revocable Living Trust are minimal in comparison to a Will and the Probate Court process. 3. The Probate Court process takes time to be completed. Even relatively simple estates can take well in excess of one year to complete, and usually more. A Revocable Living Trust usually takes approximately four to five months to complete following death. 4. A Will is a public document that is filed with the Court. It can be viewed by anyone. A Revocable Living Trust is a private document that can only be viewed by the named beneficiaries. 5. The Probate Court fees are calculated on the “gross amount of the estate.” Therefore, if you own a home worth $300,000 and you owe $200,000 on the home, the probate fees on the home are calculated on $300,000, not on the equity of $100,000. The probate fees (excluding costs) on a $300,000 estate are $9,000. The probate fees on a gross estate worth $1,000,000 are $23,000. 6. A Revocable Living Trust can minimize or avoid completely any Estate Taxes due within nine months of the date of death in many instances that a traditional Will cannot avoid. See our detailed Estate Planning FAQ The Rishwain Law Firm Estate Planning lawyers in Stockton, California (San Joaquin County) serve all of Northern California including: Stockton, San Joaquin County, Modesto, Bakersfield, Fresno, Alameda, Contra Costa County, Fremont, Hayward, Oakland, Sacramento, San Francisco, San Jose, Santa Clara, Stanislaus County, Walnut Creek and many other communities. We have over 60 years experience in providing trustworthy, ethical representation to our clients. |