Title: Get a Living Trust Lawyer to help with your Estate Planning
Generally, states Brian D. Lerner, Living Trust Attorney Long Beach CA, a Last Will and Testament will result in taxable consequences the moment that the property is bequeathed to the beneficiary. However, with a Living Trust explains Brian Lerner, Living Trust Lawyer, it is possible in certain circumstances that the taxable consequences can be deferred when one of the settlor’s dies and a large part of the estate goes into a survivors trust states a Living Trust Attorney.
Another item to be avoided regarding Last Will and Testaments explains the Living Trust Lawyer would be what is known as a Joint Will. A joint will is a single testamentary instrument constituting or containing the wills of two or more persons, and jointly executed by them as their respective wills explains the Living Trust Attorney. When one of the testators to a joint will dies elaborates the Living Trust Lawyer, the will is admitted to probate as the separate will of that person states the Living Trust Attorney Long Beach CA. When the other testator to the joint will dies, the same instrument is again admitted to probate in a separate proceeding. The joint will offers no discernible advantage over separate wills and creates additional problems in actuality claims Brian Lerner, a Living Trust Attorney. Even if the drafter negates the existence of a will contract, a joint will can still result in unexpected consequences. For example, explains the Living Trust Lawyer, a joint will executed by both spouses or registered domestic partners may constitute an agreement transmuting joint tenancy property into community property whether or not it includes or is executed according to a will contract indicates Living Trust Attorney Long Beach CA. Under a Last Will and Testament, transmuting property would be changing the character of the property which many people do not want as noted by Brian Lerner, Living Trust Attorney.
Brian D. Lerner, Living Trust Attorney Long Beach CA states that the Last Will and Testament should be drafted with care and with taking into account all of the various factors of an Estate Plan. The last thing you want to walk away with explains Brian Lerner, Living Trust Lawyer, is to believe that in most cases a simple Last Will and Testament will suffice for your entire Estate Plan cautions the Living Trust Attorney. A Living Trust Attorney Long Beach CA can see all the various options and what must be done to protect you and your family.