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Trusts & Estates Law/California Revocable Living Trust

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Question
My husband and I established a Revocable Living Trust via an attorney in CA when our daughter was young and appointed a Trustee who lives out of state.  Our daughter is now 25 and we want to change:
1) Trustee to our daughter
2) remove old primary residence and replace with our new one.
Do we need to go through attorney to do this or can we draft our own letter to current Trustee and have him sign and have his signature notarized?  Can we do the change of our primary residence ourselves?

Answer
Not only should you personally do those edits, you should also go through that trust and make all the other changes.
Your asset list isn't the same, update it. Your cars are different, your bank accounts are different, anything else that was listed, make sure it is up to date. ADD any new assets.

You should also go through it and make sure that you understand all of it. That it is very clear to anyone that reads it what your intent is. If something is unclear, clear it up.

Richard.  

Trusts & Estates Law

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Richard Fritzler

Expertise

Comparing the advantages and requirements of traditional estate practices, and unconventional methods? Are Trusts a viable asset protection vehicle? Is there an alternative to buying life insurance to reduce the impact of the estate tax. Is the elimination of the estate tax during the next decade good for everyone? I can review the benefits and misinformation that exists.

Experience

I have been in the business of assisting business owners in reducing their taxes and liability for over 17 years. We specialize in developing plans that eliminate the estate tax, not find a way to prepay it. Most small businesses do not survive the death of the principal. We want small businesses to not only survive, but flourish.

Organizations
National Small Business Owners Association.
Nevada Association of Listed Resident Agents.
Citizens Legal Association

Publications
Contributing author to "The Corporate Standard Newsletter".

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