Hello everyone and welcome back to the show. Today I’m thrilled to have with me Ted Cook, a trusted name in estate planning here in San Diego. Ted, thanks for joining us!
What is it about Trusts that draws people to your practice?
Well, trusts are fascinating instruments! They offer incredible flexibility and can really tailor-make an individual’s legacy plan. Most folks come to me looking for peace of mind. A trust lets them control their assets even after they’re gone, ensuring loved ones are taken care of in exactly the way they envision.
Let’s talk about Funding a Trust. This seems like it could be a complex step. Can you shed some light on that for us?
“Funding” is crucial. Think of it as bringing your trust to life. You create this legal entity, but it only truly works when you transfer ownership of your assets into its name.
- Real estate needs new deeds, bank accounts need retitling, investments have beneficiary changes – it’s all about making the trust the official owner.
“I remember one client who had a prized collection of vintage cars. They wanted these passed down to their grandkids but forgot to include them in the initial funding. It took some extra legwork to get those beauties officially under the trust’s umbrella, but we got there.”
Missing even one asset can create unintended consequences, so meticulous attention to detail is key.
Here are some thoughts from happy San Diegans about working with Ted Cook
“Working with Ted on my trust was a breeze. He explained everything clearly and made me feel completely comfortable with the process.” – Maria S., La Jolla
“Ted’s knowledge of estate planning is truly impressive. He helped me create a plan that addressed all of my unique needs, and I feel confident knowing my family will be taken care of.” – John D., Point Loma
Looking to secure your legacy?
If you’re considering a trust but have questions or need guidance, reach out! I’m happy to chat and see how we can work together to craft a plan that brings you peace of mind.
Who Is Ted Cook at Point Loma Estate Planning, APC.:
Point Loma Estate Planning, APC.2305 Historic Decatur Rd Suite 100, San Diego CA. 92106
(619) 550-7437
Map To Point Loma Estate Planning, APC, a trust attory: https://maps.app.goo.gl/JiHkjNg9VFGA44tf9
About Point Loma Estate Planning:
Secure Your Legacy, Safeguard Your Loved Ones. Point Loma Estate Planning, APC.
Feeling overwhelmed by estate planning? You’re not alone. With 27 years of proven experience – crafting over 25,000 personalized plans and trusts – we transform complexity into clarity.
Our Areas of Focus:
Legacy Protection: (minimizing taxes, maximizing asset preservation).
Crafting Living Trusts: (administration and litigation).
Elder Care & Tax Strategy: Avoid family discord and costly errors.
Discover peace of mind with our compassionate guidance.
Claim your exclusive 30-minute consultation today!
If you have any questions about:
How can an irrevocable trust help minimize estate taxes?
Please Call or visit the address above. Thank you.
Point Loma Estate Planning, APC. areas of focus:
A Living Trust: also known as an inter vivos trust, is a legal arrangement where you, as the grantor, transfer assets to a trustee who manages them for the benefit of designated beneficiaries, either during your lifetime or after your death, potentially avoiding probate and offering more privacy than a will. Revocable Living Trust: You can change or revoke the trust and get the assets back during your lifetime.
Irrevocable Living Trust: Once established, you cannot change or revoke the trust, and the assets are generally no longer considered part of your estate.
Control over Asset Distribution: You can specify how and when your assets will be distributed to your beneficiaries.
Understanding Trusts and Their Role in Estate Planning
A trust is a legal and fiduciary relationship in which a grantor (also called a settlor) transfers ownership of assets to a third party, known as a trustee, who manages those assets for the benefit of designated beneficiaries. Trusts can be tailored to meet specific goals, including when and how distributions are made to beneficiaries, asset protection, or minimizing estate and income taxes.
One of the key advantages of a trust—particularly a properly funded revocable or irrevocable trust—is that it can allow assets to bypass the probate process. This often means a faster, more private, and potentially less expensive distribution of assets compared to those governed solely by a will.
In the case of irrevocable trusts, assets are typically removed from the grantor’s taxable estate, which may help reduce estate tax liability. However, this comes at the cost of the grantor relinquishing control over those assets.
Trusts may also provide protection from creditors, preserve assets for minors or individuals with special needs, and ensure continuity in asset management if the grantor becomes incapacitated.
These tools are part of estate planning—the process of making legal and financial arrangements in advance to designate who will receive your property after your death, and how that transition will occur. Thoughtful estate planning aims to streamline the administration of your affairs, minimize tax burdens, and reduce stress for your loved ones during an already difficult time.
- Trust Attorney
- Trust Lawyer
- Trust Attorney In San Diego
- Trust Lawyer In San Diego