You may Create a Trust to Manage Your Property

Alot of people assume the only reason to create a trust is to avoid probate court. Although trusts may help avoid placing property in probate court, there are many other useful reasons to create a trust. For example, you may want to consider to create a trust to manage your real estate property. This is common if a person has multiple properties.

You may consider setting up a living trust to manage your real estate. Therefore, you can act as both the settlor (person who creates the trust) and trustee (person who manages the trust). You will then hold title to the property as the trustee, or you may elect to have another family member, bank or corporation to act as trustee.

You may also set up a testamentary trust to manage your real estate. You may name your spouse, adult children or friends to act as trustee after you pass away. This can help your family manage your property after you are gone. This is especially helpful if you'd prefer that a professional manage the property. For more information about trust drafting in California, you should consult with an experienced Los Angeles estate litigation attorney.