Joint Tenancy is a type of shared ownership, where each owner would have undivided interest to the property. This type of ownership creates a right of survivorship. That means when one owner dies, the other absorbs the deceased owner’s interest. On the surface, this seems like a nice solution to replace the need for a Will & Trust. Unfortunately, it also comes with several unforeseen pitfalls.
When someone dies with a Trust, there will be no Probate. However, specific legal requirements must be addressed quickly for the estate to be settled with no delay in distributions. Click here to read what’s involved in the administration of a Trust. At Vanguard, we understand the challenge of losing a loved one. We can take care of the entire administrative process quick and painlessly, simplifying a tricky and time consuming process.
Absolutely. A revocable Trust provides you with the freedom and ability to make changes to your trustees or distributions whenever you choose. Once the revocable trust is written, you can change your trust as often or as infrequently as you like. Because the nature of changing a legal document involves redrafting, there will be fees incurred when a change is made to ensure changes are properly executed, leaving you completely protected. These changes tend to be quick and easy, though.
To the contrary, if you want your Trust to be unchangeable, a very small minority of clients choose an irrevocable Trust. These Trusts, once notarized are unable to be changed.
If you die without a Trust, the State of California will determine who will care for your minor children. Click Here to read how a Trust can avoid this unnecessary trauma.
To the contrary, if you want your Trust to be unchangeable, a very small minority of clients choose an irrevocable Trust. These Trusts, once notarized, are unable to be changed.
The State of California provides a path to conservatorship for those without a Trust and incapable of managing their affairs. If someone knows you’ve lost capacity, they can petition the court to be granted conservatorship. If you succeed in being granted a conservatorship, it is important to note that, like Probate, they are very time intensive and can be extremely costly. If no one does this, and there is no named Power of Attorney, this individual could likely enter into default on outstanding debts needing servicing.
With a Trust: The individual named as the Power of Attorney can seamlessly begin to act on behalf of the individual lacking capacity, paying bills and making other substantial timely decisions. Every complete Will & Trust package includes a Power of Attorney which allows our client to name an individual that can act on their behalf in these exact circumstances.
With a Trust: An Advanced Healthcare Directive, included with every complete Will & Trust package from Vanguard, provides the power for a Trusted individual to immediately step in and make vital healthcare decisions at the exact time they need to be made, honoring the wishes of the individual that built the Trust.
A Trust is a completely confidential document. Only you and your trustees will ever know the contents and decisions made in the Trust. Only the Will, one of 9 documents in the Trust, is ever made public and only lodged after death. To the contrary, if you pass without a Trust, the entire Probate process will be publicly available throughout the entire court case.
No. The best time to create a Trust is yesterday. If you pass away before your Trust is finalized, you have a 100% chance of going into probate when your assets are over $184,500.
A revocable Trust can be changed at any time by the individual Trustor that created it. A majority of our Trusts fit into this category and we usually counsel our clients to this end. An Irrevocable Trust cannot be changed once it is notarized. In only a few specific circumstances do we recommend irrevocable Trusts to our clients.
Reach out to the team. We’re constantly reminding our clients of the need to keep everything up to date and in the Trust. You’ll likely get an annual reminder from us to keep everything up to date, but if you need a change, call Client Services at (858)384-5777.
Yes. It’s vitally important that you pick someone trustworthy to serve as the Trustee. While they are legally obligated to follow the instructions within your Trust, they can create a whole lot of problems for your estate (and themselves) if they don’t. To the contrary, if you cannot find someone you trust to carry out your wishes, Vanguard is licensed by the CA State Bar Association to act as a Trustee for any estate within California.
They are subject to legal penalties and any beneficiary could sue this individual and they would be civilly liable for a lack follow through. This is why we suggest choosing a person you trust. In the case that can’t occur, you can choose Vanguard to be your trustee and we are licensed and required by the state bar to follow your exact wishes.
We never charge to talk with a lawyer. Our team can answer any questions you may have regarding your Trust or any work we’ve done on your estate. A common example: We get hundreds of calls from clients that have recently refinanced their home and need direction about how to correctly put this asset in Trust. We will always be available to guide and direct you so that your original wishes are honored and executed during your life and after you’ve passed. Some clients wish to make modifications to their Trust based on changes in their life, family or financial situations. See Can I change my Trust? to read about changing your Trust.
Yes! Every single document you need to plan and execute your estate plan are included with our Will and Trust package. One new deed is included for processing in each Trust package. Click Here.
There are no additional fees involved in the legal work for your Will & Trust package. We even include the deed on your primary CA residence in the cost quoted. When legalizing the Trust, client is responsible for payment of third-party notary services. We can help arrange those services with our mobile notary or at our offices, but this is not required. Additional properties, besides the one included, or out-of-state deeds can incur extra fees.
Vanguard Legal Group has 52 convenient locations throughout California available for in-person consultations. We also specialize in remote consultations, meaning that you can plan, approve, notarize and execute your entire Trust without leaving the comfort of your home. Our core team is headquartered in North County San Diego, CA.
Yes. While our services aren’t exclusively Spanish, some of our lawyers are conversationally proficient in Spanish. If you’d feel more comfortable with fully translated legal counsel, we can arrange for you to have a translator at any/all appointments with your counsel.
None of Vanguard’s Trust documents have ever failed and sent a client to Probate. There are circumstances where an existing client refers someone to us that is going through Probate. In these cases, we are happy to engage clients on a case-by-case basis walking them through this process and helping them achieve a favorable result. Reach out to Client Services, if you’re going through Probate and need help!
Yes. We help our clients to establish all sorts of corporate entities and can take you through the whole process painlessly from start to finish.
Yes. Vanguard Legal Group can assist with the establishment of a charitable giving Foundation, allowing you to donate tax-deductible contributions and decide when it’s convenient to what organizations to donate.
After the initial attorney meeting, we will typically provide you first drafts in 3-4 weeks. You’ll then review the documents and make any changes necessary. As soon as your drafts are approved, a notary is scheduled and within 4-6 weeks from start to finish, your Trust can be formalized. In emergency situations, clients can engage the firm to expedite this process.
Our typical Trusts are fully revocable, which means they can be changed at any time. We realize that life is full of fluctuations that require flexibility and adjustment. You have the freedom to do this and we’re here to help. You can contact the team at Vanguard to engage us for Trust changes at any time. As always, the changes will be billed at a transparent and discounted fee for existing clients.
Whether you’re a new or an existing client, our dedicated Client Services team is ready to assist you!
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