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How do you create a California Living Trust?

There are only a few steps required to creating a legal and defensible Living Trust. With Dynasty, we can guide you through creating one with our simple workflow.

  1. Choose a Trustmaker: This is the lawyer or software provider who will create and manage your trust.
  2. Choose your trustees: This is the person or people who will manage the assets in the Trust.
  3. Choose beneficiaries: These are the people who will receive the benefits of the Trust after the Trust creators die or become incapacitated.
  4. Choose the assets: to be placed in the trust: These can include assets such as real estate, personal property, bank accounts, investments and much more.
  5. Create the Trust document: This is a legal document that outlines the terms of the Trust and the roles of the Trustor, Trustee, and beneficiary. It should be signed by the Trustor/trustee and notarized for the best defensibility.
  6. Transfer the assets into the trust: This involves legally transferring ownership of the assets from the Trustor to the Trustee. This may require re-titling the assets or completing other legal paperwork.
  7. Manage the trust: The Trustee will need to manage the assets in the Trust according to the instructions of the trust creator (Trustor) and the terms of the trust document.
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What is a Trust?

A Living Trust is a financial tool that lets you plan, organize, and protect your life. It’s a personal entity that allows you to add assets and plan out your inheritance. Eliminating legal battles, cost, and time spent by your loved ones. 

Think of it like a personal LLC that you put everything you own in. Except it doesn’t protect you from liability like an LLC does, it protects you from probate and conservatorship. 

Probate is the complicated court process (12-18 months) where a judge decides what happens to your assets after you die, become incapacitated, or are “deemed” incapable. Creating a living trust allows your assets to completely circumvent probate and immediately transfer to your loved ones. 

In addition to being able to name heirs (your beneficiaries), a Trust also allows you to assign someone to manage it (your successor trustee). Instead of going through probate, your Successor Trustee takes control of the Trust, handles your affairs, and distributes your assets according to your instructions. The person you select as Successor Trustee should be your most trusted person. Like a best friend or closest family member.

At Dynasty, we believe everyone should have a Living Trust. If you have children, assets, or plan to acquire assets in the future, you should create a Trust. That way when you buy your next home, open a bank or brokerage account, get startup shares, etc. – you can immediately title them in your trust.