Irrevocable Trust Lawyer San Diego
A trust is a type of estate planning tool that enables an individual to remove assets from his or her personal estate. 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. 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.
Preserving Wealth And Avoiding Estate Tax Liability
Janathan L. Allen, APC helps clients establish revocable and irrevocable trusts which 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
The essential difference between a revocable trust and and an irrevocable trust is the asset(s) cannot be removed from an irrevocable trust without the consent of the trustee and all beneficiaries. 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 To Learn More About Allen Barron's Services
For more information or to discuss your tax, legal and accounting needs contact Allen Barron or call 866-631-3470 for a free and confidential initial consultation. Learn about the importance of integrated business strategy and coordination across legal, tax and accounting systems.
Offices of Allen Barron, Inc.
16745 West Bernardo Drive, Suite 260
San Diego, CA 92127
5720 Oberlin Drive
San Diego, CA 92121
333 South Sixth Street, Suite 230
Las Vegas, NV 89101
750 B Street, Suite 2610
San Diego, CA 92101
300 Montgomery Street, Suite 410
San Francisco, CA 94101
40 North Central Avenue
Phoenix, AZ 85004