Trust: A trust is an arrangement under which one person, called a trustee, holds legal title to property for another person, called a beneficiary. In some cases, a trust can partially substitute for a will. With a revocable living trust (also known as a revocable inter vivos trust or grantor trust), your assets are put into the trust, administered for your benefit during your lifetime and transferred to your beneficiaries when you die. With a trust, this transfer occurs all without the need for court involvement.
Trust administration is the process by which a trust is carried out following the death of the settlor, or creator of the trust, to comply with the terms of the trust. At Wang IP Law Group, P.C., we create trusts for clients who seek to avoid probate, reduce estate taxes, and/or set up long-term property management. Our attorneys help ensure that your assets will be managed according to your wishes even if you become unable to manage them yourself. We are experienced in drafting trusts to avoid probate and to easily carry out the specific terms of the trust.
One benefit of a trust is that it will typically avoid a court probate proceeding, thus saving valuable time and money. Furthermore, a trust can also ensure that assets of the settlor will be set aside for his or her intended beneficiaries. However, because living trusts are not under direct court supervision, a trustee who does not act in your best interests may, in some cases, be able to take advantage of you. That’s why our firm thoroughly consults with our clients when establishing a trust to ensure that the settlor’s wishes are carried out exactly as he or she desires.
Wang IP Law Group, P.C. offers clients a full range of trust services, including:
- Oversight and management for transfer of trust assets;
- Guidance and supervision of trustees;
- Counseling on inheritance and estate tax filings; and
- Planning of post-mortem taxes.
Why choose Wang IP Law Group?
Our firm tailors our trust services to individual clients’ needs in ways that large firms cannot. Our firm size means lower overhead and reduced costs for the client. Additionally, our firm has greater flexibility and utilization of today’s technology than larger ones. As a result, our clients enjoy the professional skill, experience and success of a large firm without the impersonal or generic customer service. In sum, our firm works one-on-one with clients to provide fast and effective solutions for all your trust needs.
Have more questions about Trusts and Trust Administration?
Wang IP Law Group, P.C. assists clients with Trusts & Trust Administration in the Los Angeles County, Orange County, San Gabriel Valley, Riverside County, San Bernardino County, San Fernando Valley, San Diego County and San Francisco and San Jose area. Our firm also provides services internationally including representing clients in China, Taiwan, Hong Kong, Japan and Israel.
To speak with one of our attorneys today, contact us at (888) 827-8880 or email us at info@TheWangIPLaw.com.