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San Francisco Trusts

Trust Lawyers in San Francisco

A typical San Francisco trust is thought to be a document in which a person (donor) assigns responsibility over property to a trustee for the benefit of a beneficiary.  The obligation of the trustee begins as of the inception of the trust, but the donor retains control over the assets as long as he or she is capable.  While this is a reasonable definition of how trusts work, there are a number of different types of trusts that serve different purposes.

Types of Trusts in San Francisco

  • San Francisco living trusts:  Simply stated, a San Francisco living trust refers to when conditions of the trust are carried out by the donor during his or her lifetime.  This is different from a trust in which the trustee carries out the conditions of the trust after the death of the donor
  • San Francisco income trusts:  A San Francisco income trust is essentially a type of investment vehicle that holds income-producing assets on behalf of unit holders who are the beneficiaries of the trust
  • San Francisco family trusts:  Although the assets of a deceased individual typically pass, in whole or in part, to a surviving spouse, the individual can set up a San Francisco family trust that passes assets to children or other heirs
  • San Francisco IRA trusts:  A San Francisco IRA trust (also called an IRA inheritor’s trust) can be set up as the beneficiary of an IRA distribution at death.  At this time, the trustee ensures that IRA payments are stretched out over a defined period of time to the actual beneficiaries of the trust, affording significant tax benefits along the way.  It should be noted that an IRA trust can also protect children from losing the IRA to a spouse in divorce, or to lawsuits or creditors

Of course, establishing specialized trusts requires the help of a skilled San Francisco estate planning lawyer to build the trusts that make sense for your situation and work together as part of your total estate plan.

Seek Experienced Legal Counsel

At Michael B. Bassi, A Law Corporation, our attorneys have experience handling a wide variety of trust, estate, and probate issues, including creating and modifying all documents need to protect your estate and heirs.  To speak to one of our attorneys and learn how we can successfully resolve your legal matter, contact Michael B. Bassi, A Law Corporation today. 

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