Living Trust - Single

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5/15 EXAMPLES

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ADVANTAGES OF A LIVING TRUST
FOR A SINGLE INDIVIDUAL
In California
Beneficiary on insurance changed to trust
Title of assets changed to trustee's name
New trustee takes over, trust may or may not continue, federal estate tax if over $1,500,000 to $3,500,000, assets to trustee's choice
Death of trust creator
Trust creator is the trustee,
Can purchase and/or sell assets,
No trust tax return required,
Able to take out any funds,
Revocable Living Trust,
Trust Agreement