Forming an Irrevocable Trust?
Let an Irvine Probate Lawyer Inform You of the Benefits
An irrevocable trust is a legal tool used to help an individual's property
avoid going through probate. At Peter Rasla & Associates, P.L.C., the team
upholds a high standard of legal guidance and effective representation to ensure all clients receive the utmost level of professional help they deserve.
With an irrevocable trust, you can benefit from:
- Avoiding estate taxes
- Shielding assets from creditors
- Bypassing probate
- Protecting loved ones who are minors or have special needs
Are you considering creating an irrevocable trust?
Give the firm a call
today to get started!
What is an irrevocable trust?
An irrevocable trust is a type of living trust that cannot be modified
without permission from the beneficiary. Once an irrevocable trust has
been created, there is nothing that can be done to change or end the terms
of the trust, unless permission has been granted directly by the beneficiary.
Since the creator of the trust has officially signed over his or her assets
to the beneficiary, these conditions cannot be altered.
If you still want to have control over your estate, it is advised that
you do not create an irrevocable trust. You may instead want to consider a
revocable trust, which does allow for alterations.
The Tax Benefits of an Irrevocable Trust
One of the main benefits that come from forming an irrevocable trust has
to do with reducing taxes. This is because when you form an irrevocable
trust and therefore release possession of your assets, you are also releasing
your responsibility of having to pay taxes on the state. This means that
because the assets are no longer in your name, there is no tax liability
on any income that may be generated on the assets.
Set up a Free Case Evaluation Today
If you are unsure whether or not an irrevocable trust is right for you,
the Irvine probate team is prepared to assist you. When you retain the
firm's representation, the team will get a thorough understanding
of your situation, and determine a suitable course of action for you.
The team will develop a plan that is tailored to fit your unique needs
When it comes to your assets and loved ones, it is essential to ensure
that you have all the tools and knowledge necessary to make the smartest
decision possible for your family. To learn about the effective guidance
Attorney Rasla and his trusted team may be able to provide, contact the
Spanish-speaking services are offered and
free initial case evaluations
Peter Rasla & Associates, P.L.C. is proud to serve clients throughout
Anaheim, Aliso Viejo, Corona Del Mar, Costa Mesa, East Irvine, Fountain
Valley, Garden Grove, Orange County, and Santa Ana.