Family Trust Attorney in Los Angeles

Understanding Your Various Legal Options

A trust is a legal contract pursuant to which property is titled in a legal entity (the trust) and held by a trustee (the manager of the trust property) for the benefit of the trust beneficiaries. A trust can be structured in a number of ways depending on your unique situation and family dynamic.

For more than 15 years, Attorney Maria Jonsson has assisted clients throughout Marina del Rey, Venice, and the surrounding areas in all types of estate planning matters. The Law Offices of Maria N. Jonsson can help you determine the right type of trust for your particular family. We are here to answer your questions and help you navigate the estate planning process.

Common Types of Family Trusts

Some of the more popular family trusts are:

• Married couple probate avoidance trust, which can also be utilized by domestic partners and which leaves the surviving spouse or domestic partner in full control of the entire trust at the first death. It is notable that this trust preserves the federal unlimited marital deduction extended to the surviving spouse. These trusts generally also include a springing disclaimer trust allowing the surviving spouse to—only if feasible—break up the trust in sub-trusts at the first death.
• Irrevocable life insurance trust, which owns policies of life insurance thus removing them from the taxable estate of the insured.
• Qualified domestic trust, which is appropriate where one of the spouses is not a U.S. citizen; this trust essentially mimics the unlimited marital deduction (which is not extended to non-U.S. citizens) and defers the payment of estate tax until both spouses die.
• Second marriage trust, which ensures that the wishes and goals of each spouse are protected at the first death and leaves (with proper drafting) no opportunity to the surviving spouse to disinherit the children of the deceased spouse or take adverse position to their inheritance interests, while providing the surviving spouse with adequate support during his or her life.

This is not an exclusive list of the type of trusts available to married couples. The trust that best fits each set of circumstances will depend on the specific family dynamic, the extent of assets, and the inheritance goals sought to be accomplished.

Contact Our Firm to Learn More

A trust is a crucial element of any estate plan. If you want to learn more about your legal options or which type of trust is best suited to your particular needs, we invite you to reach out to the Law Offices of Maria N. Jonsson today for a free consultation. Our seasoned Los Angeles family trust lawyer can help you clearly understand the process of choosing and creating a family trust that protects your best interests and the best interests of your family.