California Attorney for All Types of Trusts

Trust Lawyer Helping Clients Protect Their Assets

At the Law Office of David Schechet, we utilize our experience to advise clients and throughout California on the best means to meet their financial and estate objectives, including the efficient distribution of assets and estate tax avoidance. Trusts are legal entities created to hold and transfer property. These instruments provide benefits such as shielding your financial assets from losses due to liability and taxation, so your heirs can keep more of what you pass down to them. Distributing assets via a trust can also keep the details of your estate confidential, unlike the public probate process that is used for wills.

David Schechet graduated with highest honors from UCLA Law School and has been practicing law for over 35 years. With this in mind, our firm is equipped to help you make the best possible decisions regarding the use of trusts in your estate plans.

Customized Estate Planning Solutions

There are several types of trusts, with each offering situation-dependent pros and cons. An exeperienced lawyer can help you select the type of trust instrument that best addresses your legacy concerns. At the Law Office of David Schechet, we handle:

• Revocable trusts— As the grantor of a revocable trust, you can retain control of your assets during your lifetime and may revoke or revise the trust at any time. Living trusts are a popular form of revocable trust.
• Irrevocable trusts— Once you establish this kind of trust, its assets no longer belong to you, and you cannot amend the trust without your beneficiary's consent. However, any appreciated assets in the trust are not subject to estate taxes.
• Credit shelter trusts— Also called bypass or family trusts, credit shelter trusts allow a grantor to place enough wealth in a trust for heirs so that the grantor can minimize his or her tax obligations. The assets in the credit shelter trust are not subject to estate tax.
• Generation-skipping trusts— Also called a dynasty trust, a generation-skipping trust enables a grantor to transfer a substantial amount of tax-free money to beneficiaries at least two generations below them. It can be an excellent way to provide a legacy for your grandchildren.
• Qualified personal residence trusts— A QPRT prevents the value of a grantor's primary residence or vacation home from being added to their estate. Establishing a QPRT may help avoid triggering the estate tax later on.
• Irrevocable life insurance trusts— This type of trust removes a grantor's life insurance from the taxable estate. It can help to leave a tax-free legacy to loved ones.
• Qualified terminable interest property trusts— A QTIP trust helps grantors in second marriages provide for the lifetime needs of a second spouse while preserving a legacy for children from the first marriage.

Trusts are very flexible instruments. The Law Office of David Schechet can help you create one that addresses your unique estate planning needs. We also counsel clients who want to augment their asset protection by reviewing existing insurance policies and recommending ways to reduce exposure to liability.

Call for a Free Consultation

The Law Office of David Schechet serves clients throughout California who wish to protect their assets with a trust. Call 800-282-4731 or contact me online to schedule a free consultation at my Los Angeles office. We work with individuals and families in Southern California, Northern California, and all of the communities in between.