When it comes to a living trust vs will, here are some reasons why some may find a will to be preferable to a living trust. First, the cost of a living trust is often larger than a will. Second, the quantity of paper work required for a living trust is more excessive. Those who chose…
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What is a trust?
While it can sometimes seem like there are an infinite amount of different kinds of trusts, the basic concept of this sort of legal arrangement remains the same. There four basic components of any trust. The first component is the person who creates the trust. This person is called the trustor, donor, settler or grantor.…
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Information Regarding Wills
The statue of wills was enacted in 1540 by the Parliament of England and it is still used to govern the form of a will today. The statute of wills requires that a will be in writing, signed by the testator, and witnessed by at least two people. California law requires that a testator be…
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Types of Wills
In the State of California, it is possible to create a will in one of three ways: -A handwritten or holographic will is one that is done in your own handwriting. It must be legible and have everything clearly stated as to whom your assets will be given to and how things will be divided. This must be…
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A Will
A will is a legal document in which you divide your assets and property between your living beneficiaries and also give certain instructions on things after you pass away. This document is unalterable once you die and must be carried out. [caption id="attachment_9134" align="alignleft" width="300"] Will attorney in Orange County California[/caption] In your will you…
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What is the difference between a will and a living trust?
A will, also called a testament, is a legally enforceable document directing how a deceased person's property is to be distributed. A trust is created by a living person but administered by another party while the person who created the trust is still alive. A living trust allows property to be distributed much more quickly…
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