Estate Planning Services:
Who Should Look Into Estate Planning?
You should look into estate planning if you have any of the
following;
• If you have any real property, like a house, land, condo, apartment building or vacation home.
• If you have any family, children, close friends or loved ones.
• If you are at risk of losing capacity or aging. If you want to avoid a Med-Cal Lien at death.
• If you are married, recently divorced or in a domestic partnership.
• If you are single.
• If you own a business, are a doctor, lawyer, dentist or other professional with unique estate and tax needs that must be met.
• If you have assets such as stocks, brokerage accounts, IRAs, other tax deferred retirement accounts, bonds, LLC, corporation, patents, trademarks, copyrights, royalty interests, interests in mineral rights, digital assets, notes, deeds of trusts or trusts deeds and back accounts.
• If you are in a second or third marriage.
• If you want to give to Charity or create a foundation.
• If you want to reduces taxes, unnecessary costs, delays and prevent financial losses from the time value of money when loved ones do not have access to your assets if you lose capacity.
• If you have a pet.
• If you are a resident Non US citizen living in the United States.
• If you want to make gifts to children, family or friends and want to know the tax impact of these gifts.
• If you have an interest in a Irrevocable GST Trust and have a General or limited Power of Appointment in said trust.
• If you have questions about the different ways to hold title to real property.
• If you have someone that needs special care or has a disability.
Why You Need an Estate Planning Lawyer?
With correct estate planning there are many benefits that will save time, money, and frustration. You can avoid many future pitfalls and gain benefits such as;
• Probate Court Avoidance, the time it takes and all the hassles involved.
• Minimize estate and gift tax impacts.
• Minimize capital gain taxes.
• Avoid a costly Property Tax Reassessment under Prop 13 when a parent dies.
• Minimize the risk of family disputes, Will and Trust Contests.
• To keep assets in an irrevocable Trust.
• Have a clear plan for distributing your estate to loved ones.
• Maintaining Privacy.
• Avoid costly mistakes from online do-it-yourself Wills and estate planning documents.
• To have a trusted Trust and Estates Lawyer to be your Family Lawyer over time to counsel and advise your family and loved ones for your life.
• Have control over your estate if you lose capacity or die.
Nominate Guardians for your Minor Children.
• Plan for your family in the event of incapacity.
• Outline your distribution to minor and children and have creditor protection.
• Establish the Criteria for distributions to your children.