REVOCABLE LIVING TRUSTS
A Living Trust allows property in your estate to be transferred to your named beneficiaries privately, confidentially and outside of Probate. You can amend or revoke your Trust at any time and for any reason while you are alive. You maintain ownership of all property in your Trust. For married couples we offer a Shared Trust or different options for an A-B Bypass Trust. Option 1 of our A-B Bypass Trusts is for couples who have only one set of beneficiaries together; Option 2 is for couples who each may have separate beneficiares, such as children by a previous marriage, as well as children together. In a Shared Trust the "marital deduction" allows property of the first-deceased spouse to pass to the surviving spouse free of any estate tax. Upon the death of the surviving spouse, there is only one estate tax exemption available for the entire estate, that of the surviving spouse. In contrast, in an A-B Trust the estates of each spouse are kept separate for tax purposes, and therefore each Settlor has the full federal estate tax exemption available for their share of the estate. When the first spouse dies, the estate divides. Trust A of the deceased spouse, containing one-half of the total estate, becomes irrevocable. The surviving spouse owns his or her half of the estate, Trust B, and recieves a "life estate" interest in the deceased spouse's Trust A property, which is subject to the estate tax, but which also receives the full estate tax exemption. The surviving spouse has the right to use all Trust A property, to receive all income from it, and to spend Trust A principal for support, health, education and maintenance in accord with his or her accustomed manner of living. When the surviving spouse dies, his or her half of the estate is also subject to the estate tax, but again receives the full exemption. The trusts are recombined, and the combined Trust A and Trust B property is distributed to the beneficiaries, usually the Settlors' children, within the terms of the trust.
LIVING TRUST PRICING AND FEATURES
Package and A La Carte Pricing for a Revocable Living Trust are as follows:
All of our Living Trust Packages feature the following documents:
(1) Included at your request.
(2) Includes one Trust Transfer Deed with your Living Trust. Additional deeds: $100 each.
Valley Legal Documents LLC
5450 Thornwood Dr., Ste. F
San Jose, CA 95123
Ph: (408) 225-2556
Fx: (408) 225-2591
Disclaimer: Valley Legal Documents LLC is not a law firm. We are not lawyers. We cannot select legal forms for you. We cannot provide legal advice or represent our customers in Court. Valley Legal Documents LLC can only provide self-help services at your specific direction.