Protecting What You Have Worked Hard To Create

You have worked hard in life to create what you have. When it comes to estate planning, you want to ensure that your hard-earned estate and legacy are protected and your wishes are respected.

At Temmerman, Cilley & Kohlmann, LLP, our experienced trust and estate planning lawyers in Northern California will evaluate your needs, as well as the assets that comprise your estate, to determine whether a trust may be beneficial. A trust is often an essential aspect of an estate plan, prepared to protect your assets and minimize tax consequences. Based on your unique circumstances, we will then evaluate what type of trust would be most appropriate.

What Is A Living Trust?

A living trust is a written legal document, often created under the guidance of a trust attorney, in which the creator, known as the grantor, settlor or trustor, funds the trust with real property, bank accounts, stocks or any other assets. The trust is then administered during the lifetime of the grantor for his or her benefit.

Generally, the grantor of a living trust is also the trustee in charge of managing the trust assets. This gives the grantor control over assets during his or her lifetime. A successor trustee should be named to manage the trust assets if the trustee becomes incapacitated or dies. After the death of the grantor, the assets in the trust are then transferred to the trust beneficiaries.

The Advantages Of Revocable And Irrevocable Living Trusts

A living trust may be amended or revoked at any time during the grantor's lifetime, but becomes irrevocable upon the death of the grantor. Our trust attorneys find revocable living trusts to be beneficial for many clients because they help avoid court-supervised probate as well as conservatorships, while still giving clients flexibility and control over assets.

Irrevocable living trusts are created during the life of the grantor, but cannot be revoked after their creation. The goals of irrevocable trusts are generally wealth transfer, asset protection and tax reduction. Depending on the client's needs and circumstances, an attorney can prepare a wide range of trusts:

  • Bypass trusts
  • QTIP trusts
  • Charitable trusts
  • Generation-skipping trusts
  • Life insurance trusts
  • Spendthrift trusts
  • Special-needs trusts
  • Asset protection trusts

Our team of certified estate planning specialists and an attorney/CPA will fully analyze your needs and estate to develop a highly personalized estate plan. Each lawyer at our firm has significant expertise in the preparation of all types of trusts, as well as wills with pour-over provisions to fund testamentary trusts, powers of attorney, advance health care directives and other estate planning instruments.

Seek Estate Planning Assistance From Our Attorneys

We offer individualized, tax-sensitive estate planning and trust preparation, administration and litigation services. Consult with us on your estate planning needs by contacting our San Jose or Danville offices. Call us at 408-780-1912 or email us to get started.