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Estate Planning – Trust Litigation – Inheritance Disputes – Product Liability – Probate & Business – Trust Administration – Tax Planning
Are you looking for an estate planning attorney Laguna Niguel, CA, residents trust? Our team of industry-leading attorneys possesses extensive experience in the field of estate planning. We are committed to assisting our clients in achieving their financial goals. Whether you need to establish a basic will or require more sophisticated planning involving living trusts, we are here to provide the best advice.
Estate Planning Includes:
- Creating a will or living trust
- Naming an executor of the estate
- Establishing guardians for dependents
- Setting up durable power of attorney
- Creating a healthcare directive
- Naming of beneficiaries
Benefits of Estate Planning
If a proper estate plan is not intact, the court will decide estate affairs. An estate plan ensures that you’re in charge of where your assets go instead of the court. Planning allows you to choose who will inherit everything you’ve worked so hard for in your life.
Your loved ones will have to settle your affairs after you are gone. An estate plan makes this process much less difficult for them. Furthermore, settling assets in probate can become costly. Unfortunately, it can also lead to strife in your family. This is especially true if family members disagree on specific terms.
Estate planning also reduces taxes on what you leave behind. A qualified estate plan professional can advise you on utilizing giving tactics and setting up trusts. Furthermore, experienced estate planning services provide a host of knowledgeable tips to help you decrease the tax burden your loved ones will have to face otherwise. Even just a bit of planning can significantly reduce inheritance tax.
When Should I Start Estate Planning?
The sooner you start estate planning, the better. It’s far better to estate plan when you have time to explore options and make rational decisions. The result of a clear estate plan is less confusion and disputes among family members and heirs.
Initiating the estate planning process early does not mean that the plan becomes unalterable. Estate plans can be modified and should be reviewed periodically. Significant life events like marriages, births, divorces, and deaths necessitate updates to the estate plan. Even changes in financial situations may require revisiting and adjusting the estate plan accordingly.
Did You Know?
In the absence of a will, under intestacy laws, the assets of a person who passes away are distributed to their family. Nevertheless, in cases where no eligible relatives are identified, the assets usually become the property of the government through a process known as escheat. Hence, it is crucial for individuals without immediate family members to engage in estate planning. Through estate planning, these individuals can determine the beneficiaries of their assets, be it individuals, charities, or organizations. By engaging in estate planning, individuals retain control over the destination of their wealth, ensuring that their wishes are fulfilled instead of leaving the decision to the court.
Undue Influence
Undue influence is a legal term used to describe a situation where a person is forced or manipulated into making a decision against their own free will. In California, undue influence can be used to invalidate a contract, will, or other legal documents. In addition, it can be used to establish a claim for financial fraud or elder abuse.
The legal definition of undue influence in California is the use of pressure, intimidation, or trickery to overcome the free will of another person. The person exerting the influence may be a family member, friend, or someone in a position of trust and power, such as a business associate or caregiver.
The Courts Consider Several Factors in Determining if Undue Influence Has Been Used
- The relationship between the parties involved
- The age and mental state of the person being influenced
- The amount of pressure used
- The nature of the transaction
The impact of undue influence can be devastating. For example, it can lead to a person making decisions that are not in their best interest. Or decisions that cost them money or property. Furthermore, it can result in a person signing a will, contract, or other legal document that is not in their best interest.
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SOUTHERN CALIFORNIA ATTORNEYS
We are an industry-leading estate, trust, and probate attorney serving clients with estate planning in Laguna Niguel, CA, and surrounding communities within Orange County, including Irvine and Laguna Beach.
We are an industry-leading estate, trust, and probate attorney serving clients in Laguna Niguel, CA, and surrounding communities within Orange County, including Yorba Linda and Dana Point.