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Bay Area Estate And Tax Planning Law Firm
Estate Planning
Trust Administration and probate

How can you enhance a trust’s already impressive flexibility?

| Sep 25, 2019 | Uncategorized |

Regular readers of our blogs in the Bay Area and across California know that we strongly endorse the clear utility of tailored and well-drafted trusts at the Pleasanton Law Offices of Connie Yi. We note on our established firm’s website that, “Trusts can be an integral piece of estate planning for many individuals, couples and families.”

A core reason why that is true owes to the impressive flexibility of trusts across many dimensions. Trusts enable creators (grantors) to exercise continued financial control during their lifetimes and ensure that their wishes are carried out regarding heirs and other parties after they die. Trusts are attractive legal instruments for shielding assets from creditors and lawfully avoiding outlays to tax authorities. Importantly, too, trust assets typically bypass the probate process and are shielded from public scrutiny.

The bottom line: Trusts’ flexibility is conceded and vastly appreciated within the planning community.

An experienced estate planning professional and wealth manager conveys in a recent Forbes article that, notwithstanding the already inherent flexibility reposing in trusts, those instruments can be rendered even more flexible via a few purposeful steps.

Writer Catherine Schnaubelt discusses those strategies in some detail in her article. They can be perused by interested readers via the link provided in the above paragraph.

A bottom-line point stressed by Schnaubelt is that maximum trust flexibility is now more essential than ever “to adapt to changing circumstances with family, finances and the prevailing regulatory environment.”

We couldn’t agree more with that. We welcome contacts to our proven law firm from individuals and families having questions concerning any aspect of estate planning.

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