At our law firm, we understand that estate planning is crucial for married couples and individuals who want to ensure their wealth is transferred to their loved ones and their privacy is protected. Our team is here to help you create a customized estate plan that meets your unique goals and needs.
Estate planning involves a variety of legal strategies, including wills, revocable living trusts, irrevocable trusts, durable powers of attorney, and healthcare documents. Attempting to handle estate planning on your own can be challenging, as the process can be complex and difficult to structure properly without the help of an experienced estate lawyer.
If you want to schedule a consultation to discuss your estate planning options and get an estimate for costs, don’t hesitate to contact our office at (408) 978-7076.
Probate is the process in which property is transferred when an individual passes away with a will or no will or estate planning documents in place. Handling probate without experience can be difficult and stressful. Our law firm can assist you in smoothly and efficiently distributing assets to beneficiaries through the probate process. Read more here.
There are few assets that are legally shielded from creditors (such as some home equity, certain retirement plans, and interests in LLCs and limited partnerships). However, assets that are almost always unreachable by creditors are those to which a person does not hold legal title. In some cases, it is possible to vest legal title to personal assets in a trust, an agent, or a nominee while still retaining control of the assets. The goal of asset protection is similar to bankruptcy, and the two practice areas often go hand in hand.
If someone has few or no assets, they may need to rely on bankruptcy for protection from creditors. On the other hand, if someone has significant assets, asset protection is a more preferred solution. To learn more about how our law firm can help you with asset protection planning, please contact us at (408) 978-7076.
Your last will and testament is just one part of a comprehensive estate plan. If someone passes away without a will, they are said to have died “intestate” and state laws will determine how and to whom the person’s assets will be distributed. Here are a few things to keep in mind about wills:
If you are considering setting up a will, don’t hesitate to contact our law firm at (408) 978-7076 for a consultation.
Living trusts can help you avoid probate and reduce or eliminate federal estate taxes for your estate. Trusts come in many types and can serve a variety of legal, personal, investment, or tax planning purposes. At a basic level, a trust is a legal entity with at least three parties involved: the trustor (grantor), the trustee (trust manager), and the trust beneficiary.
There are many advantages to establishing a living trust, including the ability to avoid probate court and potentially achieve tax advantages for both the trustor and the beneficiary. Trusts can also be used to protect property from creditors and provide for someone else to manage and invest property on behalf of the trustor and named beneficiaries.
An irrevocable trust is a type of trust that cannot be modified, amended, or terminated without the permission of the named beneficiary or beneficiaries. These trusts can be used to minimize taxes while transferring wealth to the next generation and come in different types that provide unique tax advantages to the grantors.
If you have a loved one with disabilities, a special needs trust can greatly benefit them. These trusts allow the disabled beneficiary to enjoy the use of trust property for their benefit while still allowing them to receive essential needs-based government benefits.
If the intentions of the decedent were not clearly stated, disputes can arise among heirs over who gets what and how much. If you and your family are facing such a situation, our law firm is here to help. Contact us at (408) 978-7076 for a free consultation.
Property transfers often involve the largest financial transactions in a person’s life and can have significant tax implications for years to come. It’s important to work with an experienced law firm when making these decisions. Whether you’re looking to transfer properties to living or irrevocable trusts, or add or remove someone’s name from the title, we can provide valuable insight and assistance.
Contact us at (408) 978-7076 to schedule an appointment and discuss your plans. Our team is ready to help you navigate the process and make informed decisions about your property transfers.
