Irrevocable Trusts in Fremont, CA: Estate Planning Strategies
Irrevocable trusts are very common in estate planning as they allow the grantor to reduce tax collections for both themselves and the beneficiary. It is vital that a Fremont estate planning attorney is contacted before you enter into any trust, revocable or irrevocable. There are many estate and tax actions that can be levied against you if you have not received the proper legal representation. Our law firm has great experience as we have represented thousands with their estate planning needs.
Irrevocable trusts in Fremont and the Bay Area
When you create an irrevocable trust, you lose ownership of all the assets being gifted away. This loss of ownership allows these estate items to be granted to a named party without any estate tax being levied onto them. This is very important to many people as they want their loved ones to be cared for after they pass. Our law firm can help you decide which path to take. We will review your options and determine the best course of action for both you and your beneficiaries. It is very important that you retain legal representation during this time as you do not want to enter into any contract or agreement before weighing both its negative and positive features.
Irrevocable trusts can include a large variety of assets including: businesses, cash, property and even life insurance policies. When you agree to an irrevocable trust, you are not allowed to change or cancel it. This is a very important life decision as you may be losing you right to a valuable piece of your estate. Every trust is different and requires an in-depth review of the possible options. The Singh Law Firm is very knowledgeable of California estate law and is capable of helping you every step of the way. We promise to take a compassionate approach during this process and work hard to ensure a legally sound trust is created for you.