Can I use a trust to keep property designated as separate property?
Separate Property TrustIf you want to maintain property as separate property in a community property state like California, it is a good idea as part of your estate plan to keep the assets in a separate property trust that is not commingled with any community property assets. This can be done for assets that you bring into the marriage, or inherit after the marriage. This will help to establish that it was your intent to maintain these assets as your separate property.
DisclaimerDisclaimer - This response does not constitute legal, accounting or other professional advice. Only through a personal, confidential consultation with qualified legal counsel can anyone properly evaluate their own unique legal challenges and determine what, if any, appropriate legal strategies and tactics should be implemented to meet those challenges.
Circular 230 Disclaimer - "Nothing in this response is intended or written to be used, and cannot be used by any person for the purpose of avoiding tax penalties regarding any transactions or matters addressed herein. You should always seek advice from independent tax advisers regarding the same.