Calabasas Irrevocable Trust Attorney
Depending on the size of an estate, establishing an irrevocable trust may be an ideal financial decision. An irrevocable life insurance trust can reduce estate taxes by hundreds of thousands or even millions of dollars. Special types of irrevocable trusts, known as Intentionally Defective Irrevocable Trusts (IDITs), are also used to protect a primary residence and other assets against recovery for Medi-Cal recovery for nursing home costs, which would otherwise take place at death. Our Calabasas irrevocable trust attorney is here to help you understand how an irrevocable trust may benefit you and your beneficiaries.
When an individual’s estate exceeds (or will exceed) applicable exclusion amounts for estate tax purposes, it may be beneficial to transfer insurance policies. An irrevocable life insurance trust (ILIT) can be a powerful way to minimize or even eliminate estate taxes.
Contact Calabasas irrevocable trust attorney, Louis Pacella, to learn more about your options.
Serving Clients with Irrevocable Trust Matters in California
It is important to note that irrevocable trusts cannot be easily altered or amended. In practice, that means that if an irrevocable trust is not drafted correctly or appropriately, it can result in assets being distributed to the wrong individuals, serious tax issues and, in some cases, even litigation. The stakes are so high that it is essential to work with a Calabasas irrevocable trust attorney who understands the intricacies of irrevocable trust planning.
Louis Pacella can work as your Calabasas irrevocable trust attorney, like the countless others he has helped save millions of dollars in even the most advanced and complicated California estate cases. The goal is to work one-on-one with you to carefully understand all the variables within your estate and use comprehensive knowledge to develop a plan to ensure the best financial situation in the long run.
Contact Our Calabasas Irrevocable Trust Attorney
To go over any aspect of irrevocable trust in a free initial consultation, contact our Calabasas irrevocable trust attorney at 818-616-8827 or e-mail us.