Granada Hills Trusts Lawyer
Trust Lawyers Assist Clients With All Aspects of Trust Planning in Granada Hills, CA
A properly structured trust instrument can serve any number of goals, as well as serving as a vital component of any comprehensive estate plan. Trusts are living documents that will require ongoing administrative responsibilities and even potential restatements and amendments in the case of revocable trusts. The laws governing trusts in California can be complicated, making it especially important to retain the counsel of an experienced Granada Hills trust lawyer to make sure that your trust will validly achieve your goals.
At the Law Offices of Darrell C. Harriman, our dedicated trust lawyer has been helping Granada Hills residents form and administer a myriad of different trust structures for almost 40 years. Regardless of whether your goal is to provide for your children, avoid future probate, or even make ongoing donations to your favorite charity, our professionals are here to explain the potential benefits and consequences of using a trust structure to accomplish your goal.
We not only help form and fund your trust, but can also handle the ongoing administrative work that certain types of trusts can require. Our trust lawyer can also provide legal counsel if you are disputing the terms of a trust, or have been appointed to act as trustee. If you are considering a trust structure, schedule a free consultation with one of our experienced trust lawyers today.
Granada Hills Trust Lawyers Form, Fund and Administer Your Trust
Trusts can take many forms, depending upon the end goal of the client. Many clients choose to form a number of different trusts to accomplish various goals during life and after death. A trust can be revocable or irrevocable, and our trust professionals can help you establish the following types of trusts, among others:
- Revocable (living) trusts,
- Irrevocable trusts,
- Special needs trusts, which protect the needs of a beneficiary with special needs,
- Spendthrift trusts, which can be designed to provide financial support for a minor or financially irresponsible beneficiary,
- Qualified personal residence trusts,
- Charitable trusts,
- Life insurance trusts,
- Marital trusts (including bypass trusts, credit shelter trusts and qualified terminable interest property (QTIP) trusts or qualified domestic trusts (QDPs).
Certain types of trust structures can be advantageous from a tax perspective, while others are geared toward providing the trust creator with continued control over the trust assets and terms during life. Our lawyer can explain the benefits and burdens of any given trust, and can also assist with administrative duties, including:
- Providing required notices and accountings to beneficiaries,
- Making sure the trust conforms to changing trust laws,
- Ensuring trust funds are distributed to beneficiaries in compliance with trust terms,
- Helping clarify any potential ambiguous trust terms,
- Resolving disputes over trust terms,
- Providing assistance to inexperienced or time-constrained trustees,
- Handling trustee compensation,
- Reforming trusts to reflect changing circumstances, including in the case of irrevocable trusts, which can often be modified under certain circumstances.
Trust Attorneys at the Law Offices of Darrell C. Harriman Provide Ongoing Support to Granada Hills Clients
Once your trust is funded and formed, our professionals continue to provide ongoing support as circumstances change. Many clients will need to revisit their trust terms after they retire, sell a business interest or even have additional children or grandchildren. We understand how important it is for our clients to understand all of their options when it comes to trust planning, and take the time to form lasting relationships with our clients to ensure their wishes are carried out. We believe in regular and open communication with all of our clients, and value the long-term relationships that allow us to provide individualized and ongoing trust planning services.
Schedule a Free Phone Consultation with a Granada Hills Trust Lawyer Today
When forming a trust, you need an experienced lawyer who you can trust to fully explain the benefits and consequences of forming any given type of trust structure. Our lawyer can provide you with all of your options, and help you weigh the costs and benefits of any potential course of action. Fill out our online contact form to schedule a confidential initial phone consultation with our veteran Granada Hills trust lawyer today. Our office is conveniently located at 8912 Haskell Ave., North Hills, CA 91343.
About Granada Hills, CA
Granada Hills is a relatively lightly populated residential area located close to Los Angeles, California, in the foothills of the Santa Susana mountains. Granada Hills began as a dairy and citrus farming community, and continues to be known for its citrus trees that populate residential streets. Granada Hills is also home to the San Fernando Valley’s first oil well, which was drilled in the area in 1916. The area is a relatively ethnically diverse area of the Los Angeles metropolitan area, with a population that is about 50 percent white, 20 percent Latino and 16 percent Asian.
FAQ: Who should act as trustee for my trust? Choosing a trustee can be a personal decision, but it is important to remain impartial and consider an individual’s qualifications. In many cases, an adult child or surviving spouse can act as trustee, but it can also be advisable to appoint an impartial co-trustee, such as an attorney, to provide advice and guidance as to the trustee’s duties and any specific instructions or complexities within the terms of the trust document itself.
FAQ: What are some of the requirements that must be satisfied to form a trust in Granada Hills, CA? California law requires that, first, there must be an intent to create a trust. Secondly, the trust must be funded with property in order to be valid. The trust also must have a purpose, which can be as simple as providing for a beneficiary or avoiding probate. All trusts must have a specified beneficiary as well—which can be either an individual or organization. Unlike wills, a trust is not required to be validated through the probate process, and trusts do not have the specific witnessing requirements that apply to wills. While a trustee is not strictly necessary for a trust to be valid, a trustee is necessary for the trust to accomplish its goals with respect to management and distribution of trust assets.