Can you have a will and a living trust in California?

Can you have a will and a living trust in California?

In California, state law allows its residents to use both a will and a living trust together if they so desire.There are definite benefits to using a combination of both.

How do I contact a living trust lawyer in California?

Their phone number is 408-971-6822 . If you decide to set up a Living Trust, the lawyer will write the trust document and review it with you. After signing, you fund the trust by transferring title to all (or most) of your property to the trust.

How do I set up a living trust in Santa Clara County?

You can also get a referral to a lawyer from the Santa Clara County Bar Association. Their phone number is 408-971-6822. If you decide to set up a Living Trust, the lawyer will write the trust document and review it with you. After signing, you fund the trust by transferring title to all (or most) of your property to the trust.

What is an inter vivos trust?

A living trust ( inter vivos) is a legal relationship where one person, called the trustee, holds the property for the benefit of another, called beneficiary. The person who creates the trust is called the trustor or grantor may also be named trustee until he or she dies, and at that time, a successor trustee takes over.

Is undistributed net income from a living trust taxable in California?

Despite the trust’s New York origin and administration, all of the trust’s undistributed net income is currently taxable by California.

Is there a Tax Guide for irrevocable trusts in California?

Although its focus is on the treatment of irrevocable, non-grantor trusts, it includes a brief overview of California’s taxation of the income of estates and administrative trusts, as well as a technical guide to complying with California income tax reporting and withholding requirements.