A revocable living trust in California is the transfer of ownership of your assets into the trust to manage and distribute them after your death. However, not all assets are suitable for inclusion in a trust. Some assets may be better left outside of the trust to...
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Trusts
Different types of trusts can meet varying financial goals
There are several types of trusts, each with a unique purpose. However, there are some general circumstances for California families in which establishing a trust may be the best option. If any of the following situations apply to you, you may want to consider...
The main types of tax incentives for charitable remainder trusts
Estate planning allows you to take care of your assets and beneficiaries in California. Some people want part or all of what they leave behind to go to charities. If you plan on donating a considerable amount of money to charity, it's good to know about charitable...
Common myths & misconceptions about fiduciaries in California
There are different kinds of financial planners and advisors that operate in California. While some of these advisors are not required to take extra steps to ensure that they always act in the best interests of their clients, others are. Those in this second group are...
Common ways to fund a trust in California
When creating a trust in California, one of the first things you will need to do is fund it. In other words, you need to ensure that it can sustain itself once you've transferred ownership. There are several ways to do this depending on your goals, but the common...
What to know about grantor trusts in California
A grantor trust can be an invaluable tool to use when estate planning in California. Here's what you need to know about it. What is a grantor trust? A grantor trust is an irrevocable trust, where the grantor (or person who creates the trust) can put assets into the...
What is an irrevocable life insurance trust?
Individuals beginning the estate planning process in California may have heard about a component called an irrevocable life insurance trust but may not know what it entails. This can help you leave your wealth to your heirs, but is it right for you? What is an...
Determining your need for an irrevocable trust
If you have started the estate planning process in California, you'll come across many elements that will help you transfer assets to heirs after your passing. One of those elements is an irrevocable trust, but are these instruments suitable for you? What is an...
Considerations for a special needs trust
The key aspects to consider before forming your special needs trust are fiduciary duties and who will perform them. In California, you have a right to set aside funding for the future care of any beneficiary you name. Beneficiaries with disabilities face a threat to...
Using an IDGT: What and why
Trustors use an IDGT to isolate specific trust assets. This is in order to segregate estate tax from income tax. The Intentionally Defective Grantor Trust is a trust used with deliberate and purposeful intent to protect assets. Maximizing next-generation assets IDGTs...