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Security Legal Services
Security Legal ServicesSecurity Legal Services

15615 Alton Parkway, Suite 175
Irvine, CA 92618

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(949) 742-7560

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    • REVIEWS
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  • Contact Us
  • Home
  • Estate Planning Services
    • Living Trusts
    • Living Trust Review
    • Durable Power of Attorney (DPOA)
    • Advance Healthcare Directive
    • Power of Attorney (for Adult Child)
    • Healthcare Directive (for Adult Child)
    • Guardianship Prepared by a Qualified Estate Planning Attorney
  • Estate Planning Blog
    • LIVING TRUSTS
    • PERSONAL FINANCE
    • POWER OF ATTORNEY
    • REAL ESTATE
    • RETIREMENT
    • TAXES
  • Payments & Forms
    • Trust Intake Form (pdf)
    • Pay Your Invoice
    • Checkout
    • Privacy Policy
  • Free Legal Consultation
  • About Us
    • How We Are Different From Other Estate Planning Law Firms
    • 10 Point Unmatched Peace of Mind Guarantee
    • Mark D. Klein, Esq.
    • My Story:
      Why I am passionate about helping you with estate planning.
    • REVIEWS
    • Additional Legal Services
  • Contact Us

LIVING TRUSTS

irrevocable trusts

Should I Consider an Irrevocable Trust?

ESTATE PLANNING BLOG, LIVING TRUSTSBy Mark KleinMay 12, 2022

Your lifestyle and personal preferences will dictate whether an irrevocable trust or a revocable trust is best suited to your specific needs. An irrevocable trust can maintain your wishes after you die, but will cost you some flexibility. What is an Irrevocable Trust? True to its name, an irrevocable trust is plain and simple: Irrevocable.…

trustees working together

Can I have Multiple Successor Trustees Serving Together?

LIVING TRUSTSBy Mark KleinMarch 18, 2022

PART 5 – It is legal and in some situations may be desirable to name more than one person as your successor trustee.
For example, you might name two or more of your children if you think one of them might feel hurt and left out if not named. …

bank or trust company as trustee

What if I have a large or complicated estate?

LIVING TRUSTSBy Mark KleinFebruary 25, 2022

PART 4 – I may not be comfortable with my children or friends serving as the successor trustee. For a large estate, another possibility is to name an institution as the successor trustee. PROS: An arguable benefit of utilizing a financial institution is being able to depend on its longevity and likely existence into the…

trustee double check

What if My Children Aren’t Ready to Be Successor Beneficiaries?

LIVING TRUSTSBy Mark KleinFebruary 15, 2022

PART 3 – Due to their age, maturity, propensity for not getting along with siblings, you may want to consider an alternative. Under these circumstances, we recommend naming a disinterested third party who has no skin in the game. This would be someone who has no close personal relationships with any one child and will…

successor trustees siblings

Can I Simply Name One of My Children as the Successor Trustee?

LIVING TRUSTSBy Mark KleinJanuary 31, 2022

PART 2 – What are the pros and cons?
So, you’re creating or changing a revocable living trust and you are thinking about naming one of your children as the Successor Trustee. To recap, your Successor Trustee is the person who will step in to handle your trust assets …

accountable trustee

Options When Selecting a Successor Trustee(s) for a Living Trust

LIVING TRUSTSBy Mark KleinJanuary 24, 2022

PART 1 – Why is the selection of a Successor Trustee so important and what role will they play with regard to my trust? …

time to reflect

Now is a good time to reflect on what is important.

LIVING TRUSTSBy Mark KleinApril 24, 2020

The coronavirus has caused a lot of uncertainty in all our lives. While not ideal, for many, this forced downtime at home has led to a time of reflection on the things that are really important. Many people have recently reached out to me to talk about their long neglected estate planning. If you have…

estate plan

Generation-Skipping Trusts

ESTATE PLANNING BLOG, LIVING TRUSTSBy Mark KleinOctober 21, 2016

If you have heard of generation-skipping trusts (GSTs) at all, you probably think of them as a way for wealthy families to shield their fortune from estate taxes. That is true as far as it goes, but GSTs can also have benefits for the less well off by protecting assets from ex-spouses and creditors and…

charitable remainder trust

Charitable Remainder Trusts

ESTATE PLANNING BLOG, LIVING TRUSTSBy Mark KleinOctober 21, 2016

As the name implies, a charitable remainder trust involves the transfer of assets to a trust with the income going to an individual or individuals (which can include the owner of the assets) and with a charity receiving the assets at the expiration of the trust period. Such a trust device benefits the individuals who…

Choosing an executor for your will

Choosing an Executor for Your Will

ESTATE PLANNING BLOG, LIVING TRUSTSBy Mark KleinOctober 21, 2016

The designation of an executor for a will is one of the critical steps in effective estate planning. The executor will be the individual responsible for the administration of the estate. He or she must execute the necessary documents to submit the will for probate. Then the executor must gather all of the testator’s (person…

executor pitfalls

Pitfalls of Being an Executor

ESTATE PLANNING BLOG, LIVING TRUSTSBy Mark KleinOctober 21, 2016

As a general rule, the executor of an estate does not have personal liability for the debts and obligations of a decedent. Lest executors become complacent, however, they should be aware of an important exception to that rule, which was illustrated by a recent federal court case between executors and the Internal Revenue Service (IRS).…

living trust to protect nest egg

But I have a Will, is that enough? Consider a Revocable Living Trust.

ESTATE PLANNING BLOG, LIVING TRUSTSBy Mark KleinOctober 21, 2016

Most of us share the same objectives for our estate plan: 1) provide for our spouse or dependent children; 2) distribute our property; 3) plan for our disability; and 4) reduce our estate taxes. Unfortunately, most of us fail to put together a plan that achieves these goals. There are many approaches that can be…

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