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Steve H. Hornstein, CPA, Esq., LL.M., CFP Michaeline Roche, Esq. 20335 Ventura Blvd., Suite 203 Woodland Hills, CA 91364 Office: (818) 887-9401 Toll-free: (888) 280-8100 Fax: (818) 887-7173 [email protected] [email protected] - PowerPoint PPT Presentation
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Steve H. Hornstein, CPA, Esq., LL.M., CFP
Michaeline Roche, Esq.20335 Ventura Blvd., Suite 203
Woodland Hills, CA 91364
Office: (818) 887-9401
Toll-free: (888) 280-8100
Fax: (818) 887-7173
www.HornsteinLawOffices.com
Advantages of a Revocable Living Trust over a Will
• You keep control during your lifetime.• Later, your designated Trustee keeps
control.• Flexible.• No Probate (a Will may need a probate).• Private unlike the Probate of a Will.• Lower Cost to Settle than Probate of a Will.• Faster to Close than Probate of a Will.
After you transfer your assets into your Revocable Living Trust, you continue to manage those assets
as you please.
A Revocable Living Trust can be changed or revoked anytime, assets
added or removed at will, usually without a lawyer.
Later on…..
With a Will, while in Probate, a Judge controls the assets,
whereas a Trust is administered by a Trustee of your choosing.
A Trust maintains Your Privacy.
A Will Goes Through Probate, a public legal process.
A Trust is a private procedure.
No Public Court Hearing.
But isn’t a Trust Expensive?
The cost of a Will is about $500.
The cost of a Trust is about $2,150.
However…….
The cost of Probating (proving) a Will is set by the State of
California, and can be expensive.
* $11,000 to the attorney;* $11,000 to the executor (could be waived);* $400 (approx.) court filing fees;* $200 - $800 (approx.) publication fees to give notice to the public to make claims against the estate if they are owed anything;* Additional Fees as the Judge authorizes.
Example of Fees to probate a $400,000 estate:
The cost of administering a similar size Trust is about $2,000.
A Trust closes faster than Probate.
A Probate typically takes 8 to 24 months.
A Trust usually can be closed in 4 to 8 months.
To Review, the advantages of a Revocable Living Trust over a Will.
•You Keep Control•Flexible•No Probate•Private•Lower Cost to Settle•Faster to Close
Why Choose a Hornstein Law Offices Trust?
We prepare a Complete Trust Package.
Includes•Trust•Pour Over Will•Durable Power of Attorney•Advanced Medical Directive•Deeds to put Real Estate into the Trust
And…….
• We have our in-house CPA review the Trust for possible tax issues.
• We use our experience to help you write your Trust so that your wishes will be carried out with a minimum of expense and bureaucracy.
Steve H. Hornstein, CPA, Esq., LL.M., CFP
Michaeline Roche, Esq.20335 Ventura Blvd., Suite 203
Woodland Hills, CA 91364
Office: (818) 887-9401
Toll-free: (888) 280-8100
Fax: (818) 887-7173
www.HornsteinLawOffices.com
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