Why choose an irrevocable trust?

Los Angeles Trust Lawyer

An irrevocable trust is just one avenue of estate planning available to you to ensure that your estate is handled according to your wishes. A Los Angeles trust attorney can discuss your options with you and assist you to achieve your estate planning goals.

Once it's set up, an irrevocable trust can't be changed or terminated without the consent of the beneficiaries. Many times, revocable trusts are also written to become irrevocable after the creator of the trust dies. Irrevocable trusts provide asset protection because the assets are placed in a trust fund beyond the control and access of the trust maker. This makes such assets beyond the control of creditors. The assets will still go to the beneficiaries, however, providing the family with the financial support due to them under the trust instructions.

When the trust maker transfers his or her assets into an irrevocable trust, he no longer owns them. Thus, these assets cannot be taxed when he dies. Irrevocable trusts are commonly used for charitable estate planning as well. Assets transferred into the trust for charitable donation while the trust maker is alive allow for charitable tax deductions.

How a Los Angeles Irrevocable Trust Lawyer Can Help You

There are many options and uses for irrevocable trusts. An attorney in our law firm can discuss these options with you to help you design the appropriate trust for your family and assets. The Law Offices of David A. Shapiro, a Professional Corporation, focuses on all aspects of estate planning. We serve the Los Angeles area, including such surrounding cities as Beverly Hills, Bel Air, Malibu, Century City, Santa Monica, and Brentwood.