Law Offices of Connie Yi, PC
Tell Us About Your Case

For the safety of our community, clients and staff, we have suspended all in-person meeting effective March 17, 2020. All consultation meetings will be via Phone or Zoom Video Conferencing. Please contact us at (925) 484-0888 or email us directly at [email protected] to schedule the consultation.

View Our Practice Areas

Should you have a living trust?

In many circumstances, living trusts can help to avoid costly probate and reduce or eliminate the impact of federal estate taxes on your assets. A living trust can also replace the expensive, time consuming and restrictive process of appointing a conservator to handle your financial affairs if you become incapacitated.

Despite these benefits, living trusts are not necessary or helpful in every type of estate plan. In general, as the value of your assets increases, so do the benefits of obtaining a living trust. 

A living trust can partially or completely replace a will, making them a vital part of your comprehensive estate plan. Real estate, bank accounts, stocks and other assets can be put into the trust to be managed for your benefit during your lifetime and more easily transferred to your beneficiaries when you die. Most living trusts are revocable, which means they can be amended or cancelled at any point while you are still alive and competent.

As the trustor or grantor, you can appoint a trustee who will control and manage the trust during your lifetime, and distribute assets to your intended beneficiaries when you die. It is also possible to name yourself as the trustee, and appoint a successor trustee to take over control of the trust in the event of your death or incapacitation.

Trusts are not for everyone, however, as they can be more costly to set up than a will and can create additional complexities during the trust administration process. Consult with an experienced estate planning attorney to see if a living trust is beneficial to your unique situation and goals.

Source: The State Bar of California, Do I Need a Living Trust, last accessed May 15, 2015

No Comments

Leave a comment
Comment Information

Contact Us

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Email Us For A Response

Office Locations

Law Offices of Connie Yi, PC
323 Ray Street
Pleasanton, CA 94566

Phone: 925-484-0888
Pleasanton Law Office Map

19925 Stevens Creek Blvd
Suite 100
Cupertino, CA 95014

Toll Free: 888-312-6978
Map & Directions

San Francisco
490 Post Street, Suite 508
San Francisco, CA 94102

Toll Free: 888-312-6978
Phone: 415-433-3350
Map & Directions