San Diego Estate and Trust Planning
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What is a Trust?
A trust is a legal relationship in which one or more
persons (the trustee or trustees) hold legal title to
property and manage it for the benefit of one or
more people (the beneficiary or beneficiaries). On
creating a trust, the grantor has the power to
include any lawful provisions he or she wishes to
govern the trust relationship. Since tax
considerations are usually important in the creation
and management of a trust, the powers, rights, and
duties of a trustee are often limited by the tax
results desired by the grantor.
A trustee is generally required to keep trust
property separate from the trustee's own property,
and the property of each separate trust usually
must be identified as the property of the individual
trust; however, these requirements may be
modified by the trust instrument under which you
are acting. Even if you are allowed to hold trust
property in your own name or commingle it with
other property, separate records and separate tax
returns are needed for every trust.
Modern trust instruments often contain provisions
allowing trustees to make whatever types of
investments are deemed to be in the best interest of
the trust and the beneficiaries. Even though broad
powers are granted to you, these powers must
always be exercised for the best interest of the trust
and the beneficiaries.
A trust is a legal relationship in which one or more
persons (the trustee or trustees) hold legal title to
property and manage it for the benefit of one or
more people (the beneficiary or beneficiaries). On
creating a trust, the grantor has the power to
include any lawful provisions he or she wishes to
govern the trust relationship. Since tax
considerations are usually important in the creation
and management of a trust, the powers, rights, and
duties of a trustee are often limited by the tax
results desired by the grantor.
A trustee is generally required to keep trust
property separate from the trustee's own property,
and the property of each separate trust usually
must be identified as the property of the individual
trust; however, these requirements may be
modified by the trust instrument under which you
are acting. Even if you are allowed to hold trust
property in your own name or commingle it with
other property, separate records and separate tax
returns are needed for every trust.
Modern trust instruments often contain provisions
allowing trustees to make whatever types of
investments are deemed to be in the best interest of
the trust and the beneficiaries. Even though broad
powers are granted to you, these powers must
always be exercised for the best interest of the trust
and the beneficiaries.
Contracts
Corporate Governance
Employment Law
Estate Planning
Foreclosure Law
General Practice
Landlord Tenant Law
Premises Liability
Real Estate Broker Law
Real Estate Litigation
Trusts Law
Mailing Address
7040 Avenida Encinas
Suite 104-285
Carlsbad, CA 92011
Telephone
Tel 619.322.5695
Facsimile
Fax 760.929.9779
Business hours
M-F 9a.m. - 5p.m.
Corporate Governance
Employment Law
Estate Planning
Foreclosure Law
General Practice
Landlord Tenant Law
Premises Liability
Real Estate Broker Law
Real Estate Litigation
Trusts Law
Mailing Address
7040 Avenida Encinas
Suite 104-285
Carlsbad, CA 92011
Telephone
Tel 619.322.5695
Facsimile
Fax 760.929.9779
Business hours
M-F 9a.m. - 5p.m.
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