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It has no legal authority of its own and is not a separate legal entity,it is merely a statement of your intent and therefore it must be administered through the Probate Court in order for it to gain full legal status for estate administration purposes If this takes place without any brand-new legislation being passed that alters the exclusion it is going down to $1 million in 2013 steveblisslaw com Probate Attorney.
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A minimum of one trustee should be designated to handle the trust,though several individuals or companies may be called all at once.
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Legal concerns can develop if the occasion is void The Law Firm of Steven F.Bliss Esq.(858) 278-2800 Probate Lawyer If someone is not called,then they are not part of the living trust and will not receive any of your estate.
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