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Protect Your Assets by Planning Your Estate
Are you in need of Orange County estate planning services? Our team of experienced attorneys is here to assist you. A comprehensive estate plan is vital for safeguarding your family, business, and personal interests. California inheritance laws are complicated. Therefore, having a qualified estate planning attorney by your side is essential.
Law Stein Anderson’s estate planning attorneys are dedicated to protecting your assets. We offer tailored guidance and recommendations on various strategies, including insurance policies and trusts, designed to preserve and grow your family’s wealth. By enlisting the assistance of our skilled professionals, you can enjoy the peace of mind that comes with knowing your loved ones will be well provided for. Contact us today to ensure a secure future for your family.
The Three Goals of Estate Planning in Orange County
- 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 will determine how your estate is handled.
- Avoid probate. Probate is a court proceeding that is both expensive and time-consuming. Probate takes about two years to complete. Our firm has an online probate fee calculator that can show you how expensive it is. For example, probating a million-dollar house in California costs about $46,000.
- Save on 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.
At Which Age Should I Start the Estate Planning Process?
At Law Stein Anderson, we firmly believe in the importance of proactive estate planning, regardless of age. Asset protection should be a priority from the moment one begins accumulating wealth and acquiring property. For some, this may start as early as 30. Our estate planning services encompass the creation of essential documents such as last wills and trusts. We guide clients of all ages and stages of life through the estate planning process and ensure that their hard-earned assets are protected and passed on as they wish.
Tasks involved in estate planning include:
- Creating a will or living trust
- Naming an executor
- Establishing guardians for dependents
- Setting up power of attorney
- Creating a healthcare directive
- Naming beneficiaries
Read our latest articles on estate planning:
Understanding Hidden Assets, Trusts, and LLCs in Divorce Battles
The Wall Street Journal (Candace Taylor) 09.24.24, published the article “Secret Trusts, a Bitter Divorce and the Battle Over One of America’s Biggest Homes.” The article is regarding the Pritzker estate, a 50,000-square-foot property in the hills above Los Angeles (one of the largest private homes in the country). It is at the center of…
Continue Reading Understanding Hidden Assets, Trusts, and LLCs in Divorce Battles
The Risks of Relying on Intestacy
Many people are under the impression that if they die without a will (dying intestate), everything they own will automatically pass to their spouse and children. State rules differ on this, but generally, your spouse will inherit a percentage of what you own. However, the court could split your assets in ways you might not…
September Newsletter: Estate Planning for Young Adults
September’s newsletter covers estate planning for young adults, from basic first documents to smart financial strategies. It’s a great read to gain actionable first steps your young adult child can take toward financial literacy and estate planning to ensure a secure transition into adulthood. Here’s what you’ll find inside: Starter Estate Plan for High School…
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Potential Pitfalls of Joint Property Ownership
Joint real estate ownership allows the property to bypass probate and pass directly to the other owner(s) upon death. However, it’s important to note that joint property ownership can lead to unintended consequences despite its appeal for succession planning. Let’s discuss these potential complications further: Financial Risks of a Co-Owner’s Debt Any debt or obligation,…
Continue Reading Potential Pitfalls of Joint Property Ownership