What is a living trust?

A living trust is a legal document created by a person (the trust maker or settlor) during their lifetime. This document allows the trust maker to control how their estate is distributed when they die, without having to go through the probate process. This type of trust can be revocable, meaning that it can be altered or amended as needed, or irrevocable, meaning it cannot be changed. In California, a living trust is a helpful tool for estate planning. It allows the settlor to choose someone they trust to manage their estate and any assets that are held in the trust. This person is referred to as the trustee, and they are responsible for carrying out the terms of the trust. When setting up a living trust in California, the trust maker must name a beneficiary or beneficiaries, who will receive the assets held in the trust. They must also name a successor trustee, who will take over if the first trustee is unable to do so. Creating a living trust is important in California, as it allows the trust maker to determine who will receive their assets after they pass away. Additionally, it can help to avoid the probate process, which can be lengthy and expensive.

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What is a living trust?

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