Trusts Attorneys Assisting with Living and Advanced Trusts in Palm Springs
Trusts are critical tools in the estate planning process for high-net worth individuals and others concerned about ensuring proper distribution of their assets after death,. At Schlecht, Shevlin & Shoenberger, A Law Corporation, we are your trusted advisors for living and advanced trusts in California.
Why Trusts are Important to Estate Planning?
By incorporating trusts into your estate plan, not only can you help ensure that your assets transfer to your intended beneficiaries, but you can also avoid a number of the other potential pitfalls involved when relying solely on a will (or worse, when having no estate plan at all). In California, a living trust can, among other things:
- Help you avoid repeatedly updating your will
- Help you avoid probate
- Protect your assets during your lifetime
- Speed up the process of distributing assets to your beneficiaries
- Reduce the costs of administering your estate
- Minimize the tax consequences of effectuating your estate plan
- Ensure privacy during the estate administration process
The attorneys at Schlecht, Shevlin & Shoenberger, A Law Corporation regularly assist clients in preparing revocable and irrevocable living trusts. We also have extensive experience working with various other forms of advanced trusts under California law.
Revocable Trusts vs. Irrevocable Trusts
To a certain extent, the availability of the benefits described above will depend on the type of trust that you use in your estate plan. Revocable and irrevocable trusts, for example, offer competing sets of pros and cons. A revocable trust gives you freedom to modify the trust’s funding as you see fit; however, along with this freedom come certain limitations on the tax and shielding benefits that an irrevocable trust can provide.
When you sit down with one of our estate planning attorneys, we will thoroughly analyze all of your options and develop a plan that delivers on your objectives.
Services for Probate and Trust Administration
Our attorneys also provide compassionate and experienced representation for probate and trust litigation in Riverside, San Bernardino, and throughout much of California. Please click the links provided to read more.
Decades of Legal Experience in Estates and Trusts | Schlecht, Shevlin & Shoenberger, A Law Corporation
If you have questions about using trusts for estate planning in California, please call Schlecht, Shevlin & Shoenberger at 760-320-7161 or contact one of our attorneys online today. Serving the Coachella Valley since 1951, we have the knowledge you need, and the experience you can trust.