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Establishing Trusts in Los Angeles County

Goldfarb & Luu Will Explain Your Options

Trusts are complex legal instruments designed to protect your assets for your beneficiaries. At its heart, a Trust is comprised of three elements: Grantor, Trustee and Beneficiary. As creator, you as the Grantor (also known as a Trustor or Settlor) are entrusting assets with the Trustee to manage for the benefit of a Beneficiary. In most cases, while you are alive and able, you are the Trustee and Beneficiary. When you are no longer able, or when you pass away, your successor Trustee interprets your instructions and carries out your wishes accordingly. A Trustee is considered a fiduciary and held to a higher standard of care.

No two trusts are alike and can be custom-tailored to serve your specific needs and circumstances. Where it is used, a Trust serves as the foundation of a comprehensive estate plan. At Goldfarb & Luu, our experienced Tarzana estate planning attorneys will take the time to learn about you, your family and your goals to determine whether a Trust is appropriate for you. If so, we can guide you through the process of creating a Trust right for you.

In addition to serving Los Angeles County, we also serve clients in Ventura and Orange counties!

What Are the Benefits of a Trust?

Trusts are strong, flexible instruments that can be basic or extremely complex. When properly designed, a trust can avoid court involvement and be a completely private family document.

They can be used to achieve a wide range of objectives, such as:

  • Providing for family members, especially children and pets
  • Caring for disabled and elderly relatives
  • Managing and protecting assets
  • Deciding who gets what, when and how
  • Minimizing or eliminating estate taxes
  • Making charitable gifts
  • Avoiding the probate process and fees

Types of Trusts

While no two trusts are alike, all trusts fall into one of two categories: revocable or irrevocable. Revocable Trusts (also known as Living Trusts) allow you as the Grantor to make changes or revoke it at any time while you have capacity and before your death. In contrast, irrevocable trusts do not allow you to make changes once it is created. Upon your death, a revocable trust becomes irrevocable. The majority of our clients create Revocable Trusts.

You may have heard of different types of trusts. While there are many types, we will select the right type of trust to honor your goals.

Common trusts include:

  • Special Needs Trusts (SNT)
  • Marital Trusts
  • Life Insurance Trusts (ILIT)
  • Pet Trusts
  • Bypass Trusts
  • Charitable Trusts

Our Skilled Tarzana Estate Planning Attorneys Will Help You Understand Your Choices

With so many options available to create your trust, our skilled estate planning lawyers will guide you through the process of creating one best suited to you and your family. At Goldfarb & Luu, we are dedicated to helping you safeguard your family now and in the future.

Contact our office today to schedule a consultation!

Devoted to Making Clients for Life

At Goldfarb & Luu, we recognize the importance of treating our clients with the utmost respect and compassion. We do whatever we can to make sure our clients have peace of mind. Everything we do – from our actions to our processes – is focused on making sure you know we care. Whether you have a crisis that requires our immediate attention or simply have questions that demand answers, we find solutions and take care of your best interests. The result: a life-long relationship of mutual trust.

Why Hire Us?
  • Hundreds of clients helped throughout California
  • Years of experience handling estate and elder law matters
  • Selected as Super Lawyers® Rising Stars℠ for 2013, 2014 and 2015
  • Compassionate, thoughtful, and comprehensive legal solutions based on your needs