LIVING TRUST FUNDAMENTALS

1. What exactly is a living trust and how does it work?

A living trust is a legal arrangement where you transfer your assets into a trust during your lifetime. You maintain control as trustee while alive, and upon death or incapacity, your chosen successor trustee manages and distributes assets according to your wishes. In San Bernardino County, this typically takes 4-12 weeks to complete after death, compared to 12-18 months for probate.

2. How much does a living trust cost in San Bernardino County?

Living trust costs in San Bernardino County typically range from:

• Basic trust package: $2,000-$4,000
• Complex estate planning: $4,000-$7,000
• Annual maintenance: Minimal to none
• Amendment costs: $300-$500 per change

These costs are often recovered through probate savings.

3. Do I still need a will if I have a living trust?

Yes, you should have a "pour-over will" alongside your living trust. This will:

• Captures any assets not in your trust
• Names guardians for minor children
• Provides backup protection for forgotten assets
• Directs any remaining assets to your trust

PROBATE AND ASSET PROTECTION

1. How does a living trust help avoid probate?

Living trusts avoid probate because:

• Assets are technically owned by the trust
• No court intervention needed for distribution
• Successor trustee has immediate authority after the creator’s death
• Property transfers happen privately

In San Bernardino County, this saves significant time and money compared to probate.

2. Which assets should be put in a living trust?

Consider including:
‍
• Real estate in San Bernardino County
• Investment accounts
• Business interests
• Valuable personal property
• Bank accounts 

Some assets, like retirement accounts and life insurance, typically stay outside the trust.

3. Can creditors access my living trust assets?

While you're alive:
‍
• Assets remain accessible to creditors
• Trust doesn't provide asset protection
• Regular revocable trusts offer no creditor shield

Consider additional asset protection strategies for creditor concerns.

TRUST ADMINISTRATION

1. How do I transfer property into my living trust?

Property transfer steps-

First: New deed preparation
Second: County recorder filing
Third: Homeowner’s insurance company notification

Contact Us Today and we can assist you with this process.

2. Who should be my successor trustee?

Consider someone who is:
‍
• Trustworthy and responsible
• Financially competent
• Likely to outlive you
• Willing to serve
• Local to San Bernardino County (helpful but not required)

3. What's required for trust validity in California?

Essential elements:
‍
• Proper execution
• Notarization
• Capacity at creation
• Proper funding
• Clear distribution terms

IMPLEMENTATION PROCESS

1. How long does it take to set up a living trust?

Typical timeline:
‍
• Initial consultation: 1-2 hours
• Document preparation: 1-2 weeks
• Review and signing: 1 hour
• Funding process: 2-4 weeks

Total process usually takes 3-6 weeks.

2. What documents do I need to create a trust?

Typical timeline:
‍
• Initial consultation: 1-2 hours
• Document preparation: 1-2 weeks
• Review and signing: 1 hour
• Funding process: 2-4 weeks

Total process usually takes 3-6 weeks.