San Francisco Trust Attorneys

Experienced San Mateo lawyers serving much of the San Francisco Peninsula

The trust can be a useful legal tool for estate planning as well as other types of wealth management. But in order to properly serve the goals of the settlor—the person who creates a trust—a San Mateo trust lawyer must draft a thorough trust instrument. At Fox, Shjeflo, Hartley & Babu LLP, our  trusts attorneys understand the advantages and disadvantages of the various types of trusts. Our San Mateo trust attorneys listen to what their clients want and create well-drafted trusts that serve those goals.

Living vs. testamentary

The terms of a will can create a testamentary trust upon the death of the settlor. Testamentary trusts have become an increasingly valuable tool in estate planning and can be nearly indispensable in more complex estates because they allow much greater flexibility than a will alone. Trusts are, however, also useful outside of the estate planning context. A living settlor can create a trust as a means of maintaining some control over a gift or donation, as well as for other wealth management purposes.

Revocable vs. irrevocable

The settlor can freely modify a revocable trust at any time. An irrevocable trust can only be modified under certain circumstances by a court order. All testamentary trusts are irrevocable, but living trusts may be revocable or irrevocable. A revocable living trust, however, becomes irrevocable upon the death of the settlor. Revocable trusts allow the settlor free access to the property in the trust—but irrevocable trusts have certain tax benefits, as well as other benefits concerning marriage dissolution, Medicaid eligibility, and more. A San Francisco trusts lawyer can best determine which type is appropriate in a given situation.

Classification by purpose

Beyond these broad types, trusts are further classified according to their purpose. A settlor may establish a trust for charitable purposes, for the care of an elderly or disabled loved one or minor child, to provide a source of income to family members, to help his or her children pay for college, or for a multitude of other purposes. Trusts allow a great degree of flexibility by allowing settlors to choose a reliable trustee, set terms for how the trust property should be handled, and control how beneficiaries receive and use the trust property.

A trust attorney in San Mateo can help you meet your goals

Whatever your financial or estate planning goals may be, a San Francisco trusts lawyer from Fox, Shjeflo, Hartley & Babu LLP can help. Our trusts attorneys advise clients in San Francisco and throughout northern California on issues of estate planning and trust creation and draft specifically tailored documents to meet their goals. Contact us today for a complimentary consultation. Call our office at 650-341-2900 or leave a brief message on our contact page.