Best Probate Attorneys in Honolulu, HI

For a Living Trust to take effect, title to the grantor's assets must be transferred into the Trust. Title to bank accounts, stock certificates and/or real estate owned by the grantor must be transferred into the Trust. Creating a Living Trust alone will not cause the Trust to become funded. The Trust would be an empty "shell" until assets are transferred into the Trust.

Perhaps the biggest advantage of a Living Trust is that it does not have to go through probate. However, a Will must go through the probate court procedures.

If you die without a Will or Trust, the state government determines who will inherit your assets. This determination of who inherits your assets is referred to as the intestacy statute for each state.

This depends upon what the Power of Attorney says. It can be made effective at the time of signing or it can become effective at the time of your incapacity.

A reverse mortgage is a loan available to home owners of retirement age that allows them to borrow a portion of their home equity. The home owners can elect to receive a lump sum payment or a line of credit that they can withdraw when needed. The home owner is under no obligation to make payments, but is free to do so with no prepayment penalties depending on the program.