Laguna Estate Law

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Estate Planning – Trust Litigation – Inheritance Disputes – Product Liability – Probate & Business – Trust Administration – Tax Planning

Do you have questions about Laguna estate law? It’s essential to work with an experienced attorney specializing in estate planning to ensure that your wishes are carried out according to the law. Don’t wait to preserve your legacy. Our team of expert attorneys in estate planning will start helping you protect your assets, business, and estate today.

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Areas Covered in Estate Law

Estate law oversees the handling, allocation, and settlement of a person’s assets, properties, and responsibilities after they are gone. The objective is to facilitate the organized transfer of assets to selected beneficiaries following the individual’s intentions. Here are a few areas covered in estate law:

Trusts

Trusts are legal arrangements in which the grantor transfers assets to a trustee. The trustee assumes responsibility for holding and managing the assets to benefit designated beneficiaries. Trusts serve various purposes, such as avoiding probate, minimizing estate taxes, and providing for the specific needs of beneficiaries. By establishing a trust, individuals have more control over their assets.

Wills

A will is a legal document outlining how a person would like their assets distributed after they pass on. The executor is responsible for overseeing this distribution.

Probate

Probate is the legal procedure that manages a decedent’s estate administration. When a will exists, probate verifies its validity and designates an executor responsible for overseeing the estate’s distribution to rightful heirs. Without a will, the court determines the legal heirs and appoints an administrator. The administrator’s role involves settling outstanding debts and ensuring the proper distribution of the deceased person’s wealth following probate law.

Estate Taxes

The estate tax is a tax imposed on the transfer of a person’s assets after their death. Estate planning often involves strategies to minimize this estate tax liability through various legal mechanisms.

Power of Attorney

A power of attorney is a legal document that grants authority to another person to act on behalf of the grantor. They are called the agent or attorney-in-fact. This person can make decisions about financial and legal matters on the grantor’s behalf if the grantor cannot make decisions.

Three Goals of Estate Planning

1. Put your family’s game plan in writing. A properly drafted will and trust direct how your assets are handled at your death. You also get to choose who oversees that process. Otherwise, California law handles the estate.
2. The second goal of estate planning is to avoid probate. Probate is a court proceeding that is both expensive and time-consuming. In most cases, probate takes about 2 years to complete. However, more complex cases can take far longer.
3. The final goal of estate planning is to save taxes. There are many taxes to avoid at death. Such taxes include income tax, estate tax, and property tax reassessments. A good estate plan minimizes taxes.

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We are an industry-leading estate, trust, and probate attorney serving clients in Laguna Beach, CA, and surrounding communities within Orange County, including Laguna Niguel and San Clemente.