Estate Planning Using A Living Trust
How To Protect Your Assets
Avoid Probate in the Inland Empire, Minimize Taxes while Maintaining Total Privacy, Management & Control Over Your Assets With Living Trust Generally, people have two misconceptions about estate planning. The first big misconception most people have is that Estate Planning is only for individuals with large estates. The second big misconception is many people mistakenly think that estate planning only involves the writing of a will. In fact, everyone needs an Estate Plan whether you have a large or small estate. A good estate plan, however, must consider, you, your family, friends, other people you know, and, your favorite charitable organizations. The process of estate planning also involves your finances, taxes, your health and business planning. A will is only a small part of your Estate Planning process. A well prepared estate plan requires other considerations and documents as well to fully and properly address your specific situation. It should address management and control of your assets and how they are titled, and your future needs in case you ever become unable to care for yourself. Through estate planning, you can establish:
- How and by whom your finances will be managed for your benefit during your lifetime if you ever become unable to manage them yourself.
- When and under what circumstances it makes sense to distribute your assets during your lifetime.
- How and to whom your assets will be distributed after your death.
- How and by whom your personal care will be managed and how health care decisions will be made during your lifetime if you become unable to care for yourself.
Estate Plan For Small Estate
Living Trust, Will, Power of Attorney Basic Estate Plan includes:
- Revocable Living Trust
- Pour-over will (both spouses)
- Derivative power of attorney assets (2 spouses)
- Derivative power of attorney health (2 spouses)
- Instructions and Location of Information
This plan is designed for estates of 5,350,000 or less, to avoid probate while maintaining total privacy and control over your assets. It is provides, Saves Estate Taxes, and allows Deferred Assets Distributions.
Advance Estate Plan For Large Estate
Advance estate plan includes:
- All items in the basic plan
- Family Limited Partnership
- Freeze Partnership
- Life Insurance Irrevocable Trust
- Trust depending on you situation
- Other tools
The advanced estate plan is a combination of advanced strategies and well structured entities to give extra tax planning, privacy, save estate taxes, and allow deferred assets distributions. Additional optional provisions could be added to provide assets protection as well. To Start Click here If you need a Los Angeles Attorney for an effective and successful Estate Planning we at the Rawa Law Group, APC a P.C. can help. Orange County Estate Planning Attorney Estate Planning Attorney in Los Angeles