Estate Planning
Revocable Living Trusts
Revocable living trusts have become a popular alternative to the traditional will as a way to pass property on when you die. Many are attracted by the possibility of quicker and easier asset transfers than probate affords. Revocable living trusts have some drawbacks, however, and are not appropriate for all clients. Our expertise will help guide you through the analysis to ensure your estate wishes are honored.Irrevocable Trusts
Irrevocable trusts are valuable tools often utilized to minimize federal taxes or to shelter assets from the claims of future creditors and other parties (including spouses in divorce cases and plaintiffs in civil lawsuits). Bypass and Spendthrift Trusts, Supplemental Needs Trusts and Minors' Trusts are only a few irrevocable trust devices that can be narrowly-tailored to meet the client's specific demands. However, specific, mandatory procedures and rules must be adhered to for these trust vehicles to be effective. We can guide you through the analysis to determine if irrevocable trusts are appropriate, and if so, which irrevocable trust is best suited for your needs.
Wills
Creating a will is an important step in planning the distribution of one's estate upon death. This traditional estate tool allows for any children, spouse, other family members, and pets to be provided for upon death. Although revocable living trusts have become popular estate instruments over the past few years, a properly-drafted will is still almost always essential. We can work with you to create a valid California will that will compliment your estate planning portfolio.
Powers of Attorney
There are a multitude of powers of attorney: from a general power of attorney which grants an agent the right to conduct practically any business transaction, to a specific power of attorney created so that an agent can act on your behalf for a specific need. Powers of attorney, just like other estate devices, are an essential component of any complete estate plan. We can draft a full array of powers of attorney, as well as offer the expertise to assist you in determining which power of attorney is right for you.
Advance Health Care Directives
An Advance Directive is a general term used to describe a variety of documents. Living Will and Health Care Power of Attorney instruments are types of advance directives. California law provides for a device called an Advance Health Care Directive, which combines the features of a Living Will and a Health Care Power of Attorney. Like a will or trust, a properly drafted Advance Health Care Directive is one essential element of any thorough estate plan. Let us assist you in determining which instrument best matches your estate planning needs.
Asset Protection
In addition to providing for loved ones, protecting assets from future creditors is integral to any estate plan. In fact, sound asset protection strategies can enable the best possible support for family members upon death. When significant assets are involved, such asset protection strategies may include partnerships and trusts to hold legal title to such assets. It is essential to have a qualified attorney, versed in asset protection, counsel you as to the pros and cons of such treatment, and to ensure such strategies are valid and legal. We have the expertise to provide this assistance.