This morning, a representative from the California Association of Realtors, also known as C.A.R., spoke at the Long Beach Broker Preview Meeting to educate us about a recent amendment that was made to California Assembly Bill AB 717. The new amendment introduced by Carlos Villapudua in District 13 states the following:
AB 717 (Villapudua) Revocable Living Trust Education – Some homeowners, particularly from low- and moderate-income communities, are unaware of the benefits of revocable living trusts for the transfer of real property to heirs upon the death of the owner. Many low- and moderate-income households do not have access to legal advice, and in comparison to higher-income families, are less likely to engage in estate planning for their heirs. Without a revocable living trust, households must then generally utilize the costly and time intensive court probate process. Expansion of educational opportunities that communicate the value of establishing a living trust will help prevent the loss of equity and result in money and time being allocated instead to the probate process. AB717 will facilitate the development of State informational resources that explain the value of establishing a living trust.
On the surface, this appears to be a good bill and C.A.R.’s position is to support this bill. As always, please do your own research before voting for any bill.
At Laguna Legal, we are all about education and are dedicated to assisting all families with the establishment of a revocable living trust.
Laguna Legal can help you set up your Living Trust, which is actually a Complete Estate Plan. Our fee is $950 (for a single person) and includes:
To get started, please contact our office or click on the link below:
If someone you know has passed away without a living trust and their loved ones need to go through the probate process, call Laguna Legal. We can help prepare and file all necessary probate documents, give the required notice to creditors, and help/guide you or your clients through the court system. It is important to understand the probate process in order to cut down on costs and unnecessary delays caused by filing the wrong documents with the court or not giving proper notice.
Laguna Legal has been helping our clients with their legal documents for 25 years. At Laguna Legal, we specialize in making the process of creating legal documents simple, smooth, and affordable.
If we can serve you in any way, let us know! We’re always happy to help.