In California, the cost of setting up a trust can vary significantly depending on the complexity of the estate and the professional assistance required. A simple revocable living trust for an individual with modest assets may cost between $1,500 and $3,000 when prepared by an experienced attorney. More complex trusts, such as those involving tax…

In California, an Asset Protection Trust (APT) is a legal structure designed to safeguard property and wealth from creditors, lawsuits, or other financial risks. The trust operates by transferring ownership of assets from the individual to the trust, managed by a trustee. Because the assets are no longer in the individual’s name, they are generally…

In California, charitable trusts are powerful tools for individuals who want to support nonprofit organizations while also receiving tax advantages. By placing assets such as real estate, securities, or cash into a charitable trust, a donor can create a long-term funding source for a chosen charity. The state recognizes charitable trusts under both probate and…

In California, a Generation-Skipping Trust (GST) is a specialized estate planning tool designed to transfer wealth directly to grandchildren or later generations, bypassing the children of the grantor. This strategy is often used to reduce estate taxes and preserve family wealth for multiple generations. By skipping one generation, the assets avoid being taxed twice—once at…

In California, a Qualified Terminable Interest Property (QTIP) trust is often used to provide for a surviving spouse while ensuring that remaining assets are preserved for other beneficiaries, typically children from a prior marriage. This type of trust allows the surviving spouse to receive income from the trust during their lifetime, but limits their control…

In California, a spendthrift trust is a legal arrangement designed to protect a beneficiary’s inheritance from being squandered or seized by creditors. This type of trust restricts the beneficiary’s ability to transfer or pledge their interest in the trust before actually receiving distributions. By placing limits on how and when funds are accessed, a spendthrift…