Best Trusts Lawyers in Burlingame

About Trusts Law in Burlingame, United States

Trusts are legal arrangements in which one party, known as the trustee, holds and manages property or assets for the benefit of another party, the beneficiary. In Burlingame, which is located in San Mateo County, California, trusts are commonly used as an estate planning tool to help individuals manage their assets, plan for incapacity, avoid probate, and provide for loved ones. Trusts can be established during a person’s lifetime or created under a will to take effect after death. Understanding trusts is an important step for anyone considering how they want their assets to be managed and distributed.

Why You May Need a Lawyer

There are various situations where seeking legal advice on trusts can be essential. Common scenarios include:

• Creating a trust to provide for minor children, elderly parents, or loved ones with special needs
• Transferring real estate, financial accounts, or other assets into a trust
• Reducing estate taxes and avoiding the costs and delays of probate
• Updating or amending existing trusts after major life changes such as marriage, divorce, or the birth of a child
• Settling disputes among beneficiaries or between beneficiaries and trustees
• Ensuring legal compliance and proper administration of a trust under California law
• Protecting assets from creditors or during divorce proceedings
• Facilitating charitable giving through special types of trusts
• Establishing business succession plans

A lawyer can help you understand the implications of different trust structures and tailor a legal solution to your unique situation.

Local Laws Overview

Trust law in Burlingame is governed by California state law, particularly the California Probate Code. Key aspects relevant to Burlingame residents include:

• California recognizes several types of trusts, including revocable living trusts, irrevocable trusts, special needs trusts, and testamentary trusts
• Revocable living trusts are popular because they offer flexibility, probate avoidance, and privacy
• To be valid, a trust must have a legal purpose, a clearly defined trustee and beneficiary, and identified trust property (corpus)
• Trustees owe fiduciary duties to beneficiaries, including the duty to act in their best interests and to manage the trust assets prudently
• If a trust becomes contested, it is typically handled in the probate division of the San Mateo County Superior Court
• California law requires certain notices to be given to beneficiaries and heirs when a trust becomes irrevocable
• Some trusts must file annual tax returns, and trustees have reporting and recordkeeping obligations
• Special rules apply when trusts involve real property located in California, including potential property tax reassessment upon transfer

Frequently Asked Questions

What is the difference between a will and a trust?

A will directs how assets are distributed after death through probate, while a trust can manage assets both during your lifetime and after your death, often avoiding probate altogether.

Do I need a lawyer to create a trust in Burlingame?

While it is technically possible to create a trust without a lawyer, having legal guidance ensures the trust is valid and aligns with your goals, minimizing the risk of future disputes or complications.

What types of trusts are most common in Burlingame?

Revocable living trusts, irrevocable trusts, and special needs trusts are among the most common in Burlingame and the broader San Mateo County.

Can a trust help avoid probate in California?

Yes. Assets held in a properly funded trust generally bypass probate, resulting in faster and private distribution to beneficiaries.

Is a trust public record?

Unlike wills that are filed in probate court, trusts are private documents and typically do not become public record unless involved in litigation.

How do I fund a trust?

Funding a trust involves transferring ownership of your assets, such as real estate, bank accounts, and investments, into the name of your trust. This often requires updated deeds and account paperwork.

What duties does a trustee have?

A trustee must manage trust assets responsibly, follow the trust’s terms, avoid conflicts of interest, keep beneficiaries informed, and follow California law.

Can I change or revoke my trust after it is created?

Revocable trusts can be changed or revoked during the creator’s (grantor’s) lifetime, while irrevocable trusts typically cannot be altered except in limited circumstances.

Are there tax advantages to creating a trust?

Some trusts can help minimize estate and gift taxes, though the benefits depend on the trust structure and your financial situation. A lawyer or tax advisor can provide specific guidance.

What happens if there is a dispute about a trust in Burlingame?

Trust disputes are resolved in probate court. Common disputes include disagreements over the validity or interpretation of the trust, trustee conduct, or beneficiary claims. Legal representation is highly recommended in these cases.

Additional Resources

Consider these local and statewide resources for further information on trusts:

• San Mateo County Superior Court - Probate Division
• California State Bar - Trusts and Estates Section
• San Mateo County Law Library
• California Department of Justice - Office of the Attorney General (regarding charitable trusts)
• Legal Aid Society of San Mateo County (for qualifying individuals)
• Certified specialists in estate planning, trust, and probate law recognized by the State Bar of California

Next Steps

If you are considering creating, administering, or contesting a trust in Burlingame, start by gathering your key documents and outlining your goals. Consider scheduling a consultation with a qualified trusts and estates attorney who is familiar with local and California law. An attorney can review your options, ensure your trust documents comply with legal requirements, guide you through the funding process, and provide ongoing support if issues arise. For those needing financial assistance, local legal aid organizations or pro bono services may be available. Taking action early can help secure your assets and provide peace of mind for yourself and your loved ones.