People are often unsure about using a California living trust, especially if they don't own a lot of property. This estate planning strategy is a good way to keep assets out of probate and can also minimize or remove federal estate taxes.
As with all estate planning methods a living trust offers benefits, but can also create unwanted problems. It is always a good idea to talk with a law firm that specializes in California probate law.
A primary benefit of setting up a revocable living trust is to bypass the probate process and reduce estate tax. In order to protect assets, individuals must transfer ownership of property to the trust. This is known as the funding process and involves obtaining new property titles made out to the trust.