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Avoid Probate, Protect Your Heirs: The Power of a Living Trust
Avoiding probate can save your family time, money, and stress. In this blog, we break down the benefits of using a revocable living trust in California, including avoiding costly probate fees, protecting your privacy, and reducing the risk of legal challenges. Learn how trusts work, when to update them, and why they’re a powerful tool for safeguarding your legacy.
Why Use a Trust?
A revocable living trust is a legal method of passing assets from one owner to the next without going through probate. Trusts typically provide much greater protection for your wishes.
Manage Your Gifts in a Taxwise Manner
We don’t usually think of managing gifts for tax purposes, but as you begin thinking about how you want to share your wealth it becomes very important. There are two types of gifts I’m thinking about here, charity and the gifts to your heirs.
Level Your Income to Minimize Your Taxes
Our tax structure is progressive which means the more you make then the more as a percentage that you will pay in tax. If we knew how much money we will make in our lives and we could control when we will make it, there seems to be an optimal strategy to pay minimal tax.