More details to this question:
I am looking for an attorney to help set up a living trust, wonder I should discuss with a real estate or property lawyer as well
In summary:
I am married with 2 kids, and would like to establish a trust to ensure if anything happens to me, everything I own go to my kids, I would also want to assign my sister as trustee other than my husband.
One of the property I own was purchased prior to my current marriage, but I added my husband's name to that propriety when we got married
I also wanted to get legal advise to see if it is possible to gain sole ownership of the propriety, in case I get divorce, or if I pass away prior to my husband, I hope the entire propriety of question can go to my kids and not sharing with her husband.
I do not have plan to get divorce in the new future and I am in good state of health, just some events triggering me to put my wishes in paper formally, and need legal advise on the propriety mentioned above as well.
Appreciate your time and looking forward to hearing back from you.
1 ANSWER
Estate Planning Attorney serving Glendale, CA
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It sounds like you need legal advice so you understand the community property laws in CA. The basic purpose of a Trust is to avoid probate for your heirs. When you are married, a Trust is typically set up as a 'Family Trust'. It also sounds like you need advice regarding a possible divorce and how that would affect the distribution of property.
Answered on Aug 01st, 2013 at 3:50 PM