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Since it isn't very anonymous and doesn't likely have any clear tax advantage, I think the mostly likely reason for the trust is just to avoid probate in Califo
by ccheever 6y ago
Since it isn't very anonymous and doesn't likely have any clear tax advantage, I think the mostly likely reason for the trust is just to avoid probate in California if he passes away. https://www.nolo.com/legal-encyclopedia/california-avoiding-probate-31838.html#:~:text=In%20California%2C%20you%20can%20make,(called%20a%20successor%20trustee) https://www.nolo.com/legal-encyclopedia/california-avoiding-....
- vechagup 6y agoIndeed. It's quite common to move your assets to a living trust in California for this reason, even for the only somewhat wealthy. It's basically SOP to set up a trust rather than just a will if you have assets above the simplified probate threshold. (I'm sure Moskovitz, being more than somewhat wealthy, has additional reasons.)