What is a living trust?
For most people the word trust, living trust, and revocable living trust are interchangeable terms that mean the document you’re creating in California and in some other states, to make sure that when you die your estate does not go through the probate process. Probate is long, expensive, public and you don’t have control over what happens.
A living trust is just like a will and you do need one if your estate is worth more than a $150,000 or if you own real estate of any value. And even in some situations when it’s under a $150,000 and you want to make provisions about when your kids get the property, etc.
