Anyone with assets they want to protect need to strongly consider working with a Los Angeles estate planning lawyer. No matter your net worth, you need to be proactive in having a strategy when it comes to what you will pass on after your death or in the event you become incapacitated. Don’t leave your property—real or otherwise—up for grabs: having a plan in place can save your beneficiaries considerable time and money.
Oaktree Law is A+ rated with the Better Business Bureau because we constantly focus on our clients’ needs. Thanks to our hard-working and highly-experienced team, we have earned numerous awards and helped our clients manage a wide range of legal and financial issues. You can trust us to advocate for your rights at every turn.
In the unfortunate event that tragedy strikes, your family may be too distraught to make decisions wisely regarding your care and the transfer of your assets, which makes having an estate plan in place necessary. Even if you have a plan, laws regarding inheritance change over time so you need to be consulting with an Orange County estate planning attorney regularly to ensure your business is in order.
What is included in estate planning?
The purpose of estate planning is to protect your wishes and those of your loved ones should you pass away or become unable to manage your assets. A proper understanding of estate law can mean the seamless distribution of property to your intended beneficiaries and shielding them from certain estate taxes and probate court.
Oaktree Law helps clients draft estate plans that include:
Those who pass away with property in their name and a valid will can allow the probate court to decide how their assets will be distributed. If no will is in place, the court will decide how assets will be distributed, known as “Intestate Succession.”
Consulting with a Los Angeles estate planning lawyer can help you by:
- Saving money on income and death taxes
- Peace of mind for you and your family
- Avoiding the expense and time associated with probate court
- Permits you to provide for your spouse and children in the case of a second marriage
- Gives you the power to select your heirs and the amount of assets to be distributed to each
- Provides the fastest and most efficient means of transferring your property and assets to whomever you want receiving them
Estate plans can be highly versatile depending on your needs. For instance, if you have a beneficiary with special needs, is immature, has substance abuse issues, or is not old enough to receive a sizeable distribute of assets, you can utilize a variety of trusts to manage the assets including a Discretionary Trust, Special Needs Trust, Trust for Minors, or an IRA Designated Beneficiary Trust.
Consult with a trusted Los Angeles estate planning lawyer from Oaktree Law to explore what options are available for your specific needs.
We work hard to create plans unique to you that enshrine you wishes. Give us a call at 800-535-1627 today!