Putting your assets into a trust

Transcription:

Ideally, when you set up a basic Living Trust, you want to go to an attorney that specializes in trust and estates law. What will happen is that you will, as the creator of the trust, sign a document where you will agree to hold your property as trustee for your own benefit. Once the document is signed, you will go to your bank, you would file a new deed with the county recorder, as far as any property, and you would transfer the title to all of your assets into your name as trustee. For example, before I may have held the title to my home as "Stephanie Lipson," now I would hold it as, "Stephanie Lipson, Trustee of the Lipson Living Trust."

Video Categories: ALL PARENTS, Financial Planning and Budgeting, Guardianship, Wills and Trusts

Estate & Tax Attorney Stefanie Lipson shares advice on estate planning and explains the process of putting your assets into a trust

Transcript

Expert Bio

Stefanie Lipson

Estate & Tax Attorney

Stefanie J. Lipson is an attorney in the Family Wealth Planning Group of Greenberg, Glusker, Fields, Claman, & Machtinger, LLP. Stefanie’s practice focuses on comprehensive estate planning for high net worth individuals, family business succession planning, probate and trust administration and the law of tax exempt organizations. Stefanie counsels her clients with a holistic approach to wealth transfer solutions, structuring plans to meet a family’s individual needs while addressing the complex estate, gift and income tax implications of wealth transfer. In addition, consistent with Stefanie’s belief that the most effective estate planning begins early, Stefanie has developed an estate planning program designed specifically to meet the planning needs of young families as they encounter common life events.

Stefanie’s unique approach and application of Trust and Estate law has been well acknowledged by the legal community. She served as a panelist at the 2010 Southern California Tax and Estate Planning Forum in a discussion involving multijurisdictional issues in estate planning and has authored publications for The Los Angeles Daily Journal and The Recorder. Stefanie has been listed in Southern California Rising Stars each year since 2009.

Stefanie received her Bachelor of Arts in 2003 from University of California Los Angeles, graduating magna cum laude with the distinction of departmental honors and a member of Phi Beta Kappa. Stefanie received her J.D. from the University of Southern California Law Center in 2006. Following her graduation from USC, Stefanie clerked for the Honorable Fred Keiser, Jr. in the New Jersey Superior Court, Family Law Division. During her time with the court, Stefanie also served as a court appointed mediator for small claims civil matters.

In furtherance of her estate planning work, Stefanie is currently pursuing a Master of Laws in Taxation (LL.M.) from New York University School of Law. Stefanie’s studies at NYU focus on estate, gift and income tax matters relating to wealth succession planning and family business ownership.

Stefanie lives in Los Angeles, with her husband Marc and their new son Noah, whom she regards as her greatest achievement.

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