Estate planning is the developing and arranging of the assets and avoiding the Probate. If you create yourself a trustee of all your trusts which are basically all your assets, then you can successfully avoid the probate. Since you are alive, so you are still the authorized beneficiary of the assets and can use it as you might please; the only thing is that it will no longer be your legal ownership to keep the records. The estate planning lawyer of Steve Bliss makes it all possible.
Your signature holds the value
The court of California is only interested in who is the officially authorized owner of the assets. Right now, you can use your own trusts as previously you have done. But, there is a change; all these while you have been signing just your name as a signature; now, you have to mention the word “Trustee” in your signature. This becomes that simple and straight, nothing is yours right now; everything is owned by the trusts. You can spend it and know it, but nothing is that close to being your property.
Trusts becomes independent as a living one
The best part; after death, the trusts do not change or die out. So, there is no reason to probate. The estate planning lawyer of Steve Bliss explains it best; says the trusts lives independently, even though the previous owner and the present trustee passes away. It holds the independent title to the assets which you owned and now it can breathe on its own. Initially, it was you and your partner holding the legal ownership of the trusts. This happens when the trust is officially formed.
Your partner is your legal successor
During the formation of the trustee, you have to take the name of the person who is going to legally handle the assets under the trust after you die or when your partner is not able to handle it. The estate planning lawyer of Steve Bliss plans and manages it all. Your partner will be the Successor trustee and they have the powers bestowed upon them legally as you had when you were capable.