How do I set up a living trust?

Setting up a living trust in California is relatively simple, but it is important to understand the basic requirements in order to ensure that the trust is legally valid. The first step to creating a living trust is to hire a lawyer who specializes in estate planning. This lawyer can help you draft a trust document that meets the legal requirements of the state. The trust document should include the name of the trust, the name and address of the Trustee, and the assets that will be in the trust. The document should also include the terms of the trust, such as how the assets can be distributed and who is entitled to the assets. Once the trust document is drafted, it must be signed by both the Trustee and the Grantor, or creator of the trust. The signed document must then be filed with the county recorder’s office in the county where the Grantor lives. After the trust is created and filed, the Trustee is responsible for managing the assets of the trust. This includes investing the assets, filing tax returns, and distributing the assets according to the terms of the trust. If the trust is properly set up, the assets in the trust can pass on to the beneficiaries without going through probate, saving time and money. Living trusts are a great way to protect your assets and ensure that your wishes are followed when you pass away.

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How do I set up a living trust?

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