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Advanced Trusts

Advanced Trust Attorneys in Riverside County, California

Advanced trusts afford individuals the opportunity to address a variety of specific concerns during the estate planning process. From protecting life insurance proceeds to maximizing the value of charitable contributions, our attorneys in Palm Springs can draft advanced trust documents to ensure that your ultimate wishes are served.

Working with You and Your Financial Advisors to Fulfill Your Goals

What goes into your estate plan starts and ends with you. These are your assets, and these are your desires for how they get distributed after you are gone. At Schlecht, Shevlin & Shoenberger, A Law Corporation, we work side by side with our clients to meet their needs – whatever they might be. With your consent we can also communicate with your accountants, financial planners and other advisors to help ensure that we cover off all necessary issues in your estate planning documents.

Types of Advanced Trusts

Our attorneys utilize a variety of types of trusts to assist clients in advanced estate planning. Some of the more common examples include the following:

  • Charitable Trusts – For clients who desire to maximize their post-mortem charitable giving while minimizing the estate and capital gains taxes on their contributions, charitable trusts can be used to meet these goals.
  • Gift Trusts (including Crummey Trusts and Life Insurance Trusts (ILITs)) – With appropriate planning and execution, gift trusts can help minimize your beneficiaries’ tax obligations for certain gifts, including life insurance policies purchased in the name of the trust.
  • IRA Trusts – These special forms of revocable trusts allow for greater control over distribution of your retirement assets.
  • Qualified Personal Residence Trusts (QPRTs) – With a QPRT, your primary or secondary residence is held in trust for a designated period of time, and then distributed to the trust beneficiaries. The QPRT allows for avoidance of estate and gift taxes that might otherwise apply.
  • Special Needs Trusts – Special needs trusts allow beneficiaries to preserve their entitlements to government disability benefits, including Supplemental Security Income (SSI) and Medicaid.

For More Information about Using Trusts for Advanced Estate Planning, Contact Us Today

Your legacy and your family’s wellbeing are important. At Schlecht, Shevlin & Shoenberger, A Law Corporation, we can help make sure they are protected. To discuss your estate plan with one of our knowledgeable and dedicated advisors, please call us at 760-320-7161 or contact us today.

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