Trusts And Estates
Estate planning often involves instruments that use trusts to protect the wishes and the assets of an individual. Occasionally used as a substitute for a will, a living trust places a person’s assets into a trust to benefit the person during their life and to transfer to beneficiaries upon the person’s death.
The Karlin Law Firm LLP works with individuals, couples and families to develop estate plans and trusts customized to meet their unique needs. To discuss your questions and concerns regarding the development and inclusion of trusts in an estate plan, contact us to arrange a complimentary, confidential consultation.
Using Trusts As Part Of A Complete Estate Plan
A trust is simply a written legal document that places specific assets, such as bank accounts and real property, of a separate legal entity, administered by a trustee. Usually, the person creating the trust, the grantor, may be named as the trustee and retain management rights to the assets. In a trust, the grantor, if they are also the trustee, may also name a successor to act on his or her behalf, should incapacitation or death occur.
The trust is a very flexible planning instrument, and trusts can be tailored for specific situations. From special needs trusts to testamentary trusts, inter vivo trusts to charitable remainder trusts, we partner with each client to select the appropriate revocable and irrevocable trust options for their individual situations. Some of the advantages of using trusts include:
- Maintaining management and control of your estate
- Providing an income stream over the course of time
- Protecting your family
- Avoiding probate
- Minimizing tax liability
- Planning for Medicaid
- Obtaining peace of mind
At The Karlin Law Firm LLP, we are able to assist clients in developing and administering trusts, as well as helping trustees work through court proceedings related to probate.
For experienced representation in estate planning and living trusts in California, including Orange County, Los Angeles County, Tustin and San Diego counties, contact us to schedule an initial consultation. We are open Monday through Friday, 8:30 am until 5:30 pm and our 24-hour answering service is available to handle matters at other times. Our Tustin, California, business law and litigation office is centrally located off the 5 and 55 freeways, near the Orange County airport’s industrial market. Our Newport Beach, California, business law and litigation office is located on Pacific Coast Highway, off the 55 freeway, near Hoag Hospital.