Legal Document Assistants | LDA PRO | Helpful Resources
Legal
Legal Document Assistants Provides Legal Document Preparation In Sacramento And Surrounding Areas
In Northern California. Paralegals, Process Servers
Visit here :- https://www.ldaprolegal.com/helpful-resources/
Can A Paralegal Prepare A Living Trust
Only Registered Legal Document Assistants or an Attorney
can legally accept money from the public to prepare legal
documents. A paralegal that is not registered as a Legal
Document Assistant, should not prepare any legal documents
for the public. Legal Document Assistants are paralegals that
have graduated from an American Bar Association Approved
Program and Registered in the county as an LDA. A living
trust is a legal document, created by an individual, where a
designated person, the trustee, is given responsibility for
managing that individual’s assets, after death. The living trust
lists all the assets, most importantly, real property.
The most important concept is to fund the trust. The trust is funded by transferring the property into
the trust. For example, if you have a property that is owned by you individually, you will need to create a
deed transfer into the name of the living trust. Living Trust should always consist of Living Trust, Will &
Testament, Trust Certification, Health Care Directive, Power Of Attorney, and One Property Deed
Transfer. If you are trying to decide whether or not you need a Living Trust vs Will, you should get legal
advice from an attorney. Most people who own real property will benefit from a Living Trust, in order to
avoid probate. If the trust is properly funded into the trust, your loved ones will avoid probate.
8 Reasons Why You Should Consider A Living Trust, by Forbes.com
1. Reduce estate taxes. If you are married, the trust can provide for estate tax savings. In Massachusetts,
for example, a properly drafted and administered trust can save a couple approximately $100,000 in
estate taxes on the death of the second spouse.
2. Protect minor children. A trust can hold the money for minor children until they are responsible
enough to manage the money themselves. Many clients prefer to give the children access to the monies
staggered over a period of time i.e. at ages 25, 30 and 35.
3. Save your grown-up kids from themselves. If your child will most likely not ever be able to manage the
money himself due to a drug or alcohol issue, or because he is just bad with money, the trustee can hold
the money in trust for your child’s lifetime and distribute it as needed.
4. Keep your assets in the family. If your child is getting married and you do not like her fiancé, you
should have a trust. In the event they divorce, you do not want half your assets winding up with your exson-in-law.
5. Take the sting out of the fling. If you are concerned that in the event of your untimely death, your
grieving spouse will take up with the pool boy, or the cocktail waitress at the country club, putting the
assets in trust with a professional trustee will make sure your spouse does not take all the money and
give it to his or her latest fling.
6. Avoid probate. If you put your assets in the trust during your lifetime instead of relying on your will to
do that when you die, you can avoid probate. It is not difficult to do – you need to transfer ownership
from your regular “Mary Smith” bank account to a “Mary Smith, Trustee of The Mary Smith Trust”
account – and an experienced financial advisors or lawyer can assist you with this.
7. Ensure your family’s privacy. If you have a will that is probated, it will become a matter of public
record along with certain other information such as the value of your assets, and often, an inventory
listing your assets. A living trust, on the other hand, is a private document.
CONTACT INFO
3550 Watt Ave., Suite 140 Sacramento,
California 95821
1100 Melody Lane, Suite 1038, Roseville CA
95678
CALL US: (916) 620-2446
CONTACT@LDAPRO.COM