A trust is a type of estate planning tool that enables an individual to remove assets from his or her personal estate. This can provide important tax benefits and wealth preservation benefits. There are many types of trusts that range from general in nature to highly specialized and focused.
An irrevocable trust can be especially useful for individuals and families with assets in excess of $5 million, since that figure marks the point past which the estate tax or “death tax” enters the picture at the time of death. An irrevocable trust can designate the creator as beneficiary but not as trustee.
Preserving Wealth And Avoiding Estate Tax Liability
Janathan L. Allen, APC helps clients establish trusts that enable them to preserve wealth, simplify the transfer of assets, reduce taxes and give to good causes, among other purposes:
- Living trusts
- Life insurance trusts
- Charitable trusts
- Qualified personal residence trusts, which allow the creator to put his or her home into the trust
Every situation is unique, so no two trusts should be exactly alike. Talk to an experienced estate planning attorney to get your trust questions answered.
Contact Us For A Free Consultation
Seeking an experienced lawyer for irrevocable trusts in San Diego, Los Angeles or Orange County? Janathan L. Allen, APC provides comprehensive estate planning services to individuals and families in Southern California and throughout the world. Contact us to learn more.
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