Description

Avoid Probate and Protect Your Mortgage is Connie Dello Buono’s plain-English guide to California revocable living trusts — how they work, why families set them up, and how to pair one with life insurance to protect a mortgage. Published under Motherhealth LLC, this guide draws on Connie’s retirement and estate planning work with Bay Area families.

What’s inside:

• California revocable living trusts: purpose, benefits, key components, flexibility, requirements, limitations, and how to fund the trust
• Medical directives and living trusts, including how a trust interacts with an annuity
• Tax implications, types of trusts, and key considerations before setting one up
• Choosing a trustee and beneficiary — key qualities to look for and the role of a no-contest clause
• Listing children in a revocable living trust and how to update your trustee or beneficiary over time
• Differences between revocable and irrevocable living trusts, and when a revocable trust converts to irrevocable upon the trustee’s death
• The Medicaid look-back period and Medicaid planning considerations
• Proposition 13 and Proposition 19 — how California’s property tax rules affect trusts and inherited property
• Pour-over wills and how they work alongside a living trust

Part of building a complete wealth protection and legacy planning strategy — this guide focuses specifically on how a California revocable living trust protects your family and your home.

A practical starting point for California families considering a living trust — pairs naturally with Unretiring the Retirees in World of AI in Silicon Valley for a fuller retirement and estate planning picture.

For a deeper dive into common living trust mistakes and how they intersect with retirement income planning, see Mistakes in Retirement Income Plan and Revocable Living Trust.

Publisher: Motherhealth LLC
Publication date: July 5, 2024
Language: English
Print length: 45 pages