Los Angeles Trusts Lawyer
Comprehensive Trust Services in California
Whether you are interested in establishing a new trust or need to resolve an issue with an existing trust, the Law Office of Mitchell A. Port can help. Our Los Angeles trust attorney has over four decades of experience and understands the complex laws and regulations governing trusts.
Attorney Mitchell A. Port can assist you with:
- Establishing and funding a trust
- Trust administration
- Trust litigation
- Contesting a trust
- Trust revocation
Contact Mitch Port for a free phone consultation – just call (310) 526-3433 to speak with our trust lawyer in Los Angeles.
Understanding Trusts
A trust is a tool that can be used to manage assets during your lifetime and distribute them upon your death. A trustee must be established to manage the trust and administer the property when appropriate.
Trusts are often funded by:
- Real property
- Investments
- Stocks
- Valuable items and family heirlooms
- Cars, trucks, and other vehicles
Trusts are useful if you want to protect certain assets for minor children or young adults who cannot be trusted with complete access to the assets.
Exploring Different Trust Options in California
- Revocable trust in California is a trust that can be revoked or altered by the person who created it (grantor) at any point during their lifetime. This type of trust is effective for avoiding probate and providing for asset management if the grantor is incapacitated.
- Irrevocable trust cannot be changed or revoked once created. This type of trust is best used to protect your assets and reduce taxes for estate planning purposes.
- Living trusts can be created during the life of the grantor and becomes effective immediately. This type of trust is often used to avoid probate and provide asset management in the event of incapacitation.
- Testamentary trusts are created in a will and becomes effective upon the grantor's death. It is typically used to manage assets for minor children or individuals with special needs.
- A charitable trust is created for charitable purposes. It provides tax benefits to the grantor and can support a variety of philanthropic causes.
- Special needs trusts are created for individuals with disabilities. The purpose is to provide for an individual's needs without interfering with their eligibility for government assistance.
- Spendthrift trusts restrict beneficiary's access to the trust assets. This type of trust is often used to protect assets from creditors and the beneficiary's poor financial decisions.
Step-by-Step Guide to Establishing Your Trust
- List Your Assets - Inventory your assets, like property and finances, for the trust. Include real estate, bank accounts, valuable items. Exclude vehicles and non-probate assets like insurance policies and retirement accounts.
- Select a Trustee - Choose a trustee to manage trust assets. You can be the trustee and name a successor for when you're unable.
- Designate Beneficiaries - Pick individuals or organizations to receive trust assets upon your passing.
- Draft the Declaration of Trust - Craft a valid Declaration of Trust, ensuring correct legal language. Online platforms or an attorney can assist.
- Optional Notary Authentication - Though not needed, many opt for notary public verification for added authenticity.
- Transfer Property - Change ownership of assets to the trust entity, updating deeds and titles as needed.
For professional assistance with your California living trust, consult Law Office of Mitchell A. Port.
Trust Administration in California
It can be difficult to determine how to properly administer a trust. The process depends on the type of property funding the trust, the beneficiaries, and whether the trust is contested.
Our Los Angeles trust attorney can help trustees with:
- Impartially handling beneficiaries and distributing the assets properly
- Separating trust assets and personal assets
- Mitigating or resolving disputes with beneficiaries
- All tax-related matters
- Addressing debts
- Administering trust expenses
California Trust Litigation
As a trustee, you have a big job. Managing a trust can be difficult, and sometimes simple mistakes are misinterpreted as misconduct. Beneficiaries, too, can encounter issues with a trust. If you believe that your rights are being violated or that you are being unfairly accused of misconduct, the Law Office of Mitchell A. Port can represent you in trust litigation.
Our Los Angeles trust lawyer can assist you with trust litigation involving:
- Tax returns
- Accounting errors
- Trust property distribution
- Investment disputes
To get started on your case with a free phone consultation, call our Los Angeles trust attorney, Mitch Port, at (310) 526-3433.
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"My brother and I have been so fortunate that my father chose Mitch Port to create his Trust!"My brother and I have been so fortunate that my father chose Mitch Port to create his Trust!- Cathy W
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"Mitch is compassionate, extremely knowledgeable and professional"
Mitch is compassionate, extremely knowledgeable and professional
- Lynne -
"Mitchell met my highest expectations."Mitchell met my highest expectations.- LaTrisha M
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"Mitch was awesome throughout this entire process and made this a stressless process."Mitch was awesome throughout this entire process and made this a stressless process.- M. C.
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"Probate cases can be difficult but attorney Mitchell Port makes them easier to understand."Probate cases can be difficult but attorney Mitchell Port makes them easier to understand.- Glendene W.
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"Mitch is extremely knowledgeable about probate matters."Mitch is extremely knowledgeable about probate matters.- Breena B.
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"If other attorneys challenge him, he does not back-down and makes me feel like he represents his clients zealously."
If other attorneys challenge him, he does not back-down and makes me feel like he represents his clients zealously.
- Evan R. -
"I trust him completely."I trust him completely.- Daniel W.
