Q: Do I Need to Hire an Attorney to Create a Living Trust?
A: You do not need to hire an attorney to create a living trust. Any person can create their own living trust. But that person is greatly encouraged to brush up on current California law (probate code) to know what the legal requirements are in order to create a valid and lawful living trust. That is where things get tough and in my experience, I have seen too many self-created living trusts riddled with problems. Or, living trusts created by non-attorneys riddled with problems. Those problems create enormous legal problems in the future which may deem documents invalid and unenforceable.
This situation is similar to health ailments and doctors. When you have a health ailment, you see a doctor. When you have a dental issue, you see a dentist. This case is no different. When you have a need to create a living trust, you should probably see an attorney. At minimum, the public is encouraged to seek out a consultation. An attorney can help address:
- What does a living trust do and what does a living trust does not accomplish
- What are the steps involved when creating a living trust
- How does a living trust impact me and my family
- When do people gain legal rights once I create a living trust
- Who should I include or exclude from my living trust
- Are there any assets which I should include or exclude from my living trust
- Is there anything special I need to add to my trust when I have minor children
- Is there anything special I need to add to my trust when I have squabbling children
- Once I create a living trust, then what happens next
- Can I change the terms of my living trust
- Should I place my home into a living trust
- Should I place my investment property (rentals) into a living trust
