Beverly Hills Irrevocable Trusts

Written by Johnny Kitchens
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Beverly Hills irrevocable trusts may not be altered or amended once they are fully completed and come into effect. If you wish to be able to amend or cancel a trust, you will need to look for a revocable trust. Trusts are very often an integral part of a comprehensive estate planning package that combines many estate planning devices.

Wills, living wills, life insurance policies and trusts, business succession plans, and powers of attorney are all common components of comprehensive estate planning. A will defines your wishes for the distribution of your estate, whereas a living will defines your wishes should you suffer catastrophic illness. Estate planning devices ensure your will is carried out when you are unable--through death or illness.

Beverly Hills irrevocable trusts can come to fruition during the trustor's lifetime, upon the event of her/his death, or years after the fact. The time schedule is laid out beforehand and can be tied to the life of the trustor, the age of the beneficiary, or any specific date. At the scheduled date, all assets within the trusts move to the control of the beneficiaries and can avoid probate.

Beverly Hills Irrevocable Trusts and Probate

Probate is the execution of a will by the courts. If there is no will, the deceased's assets are divided among his/her survivors in accordance with state law. Beverly Hills irrevocable trusts, Beverly Hills living wills, and Beverly Hills life insurance trusts, all attempt to help your assets flow smoothly to your beneficiaries and avoid the added costs of extended probate.

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