Get Estate Planning Guidance with LA Probate Law
Making sure that your assets are going to be successfully passed on to your heirs is important. Without the protection offered by careful estate planning, your assets may not end up where you want them to go. This is even more likely to happen if there is a large estate, and if the assets are to go to a large number of people. There are many different tools that can be used in estate planning that can be selected to ensure the smooth transfer of goods after you die. Estate planning, however, provides not only for the protection of your assets and their transfer, but also enables you to get the best planning to ensure the accumulation of even more assets between the time the plan is created and the time they are passed on. In some cases, it is quite possible that you could be investing your money in places with greater earning power, and this will be shown to you when you come in to LA Probate Law for a consultation.
Get Better Estate Planning Results with an Attorney
After looking over your financial situation and seeing what you want to do with your estate when you die, LA Probate Law will work with you to help you create the best plan to distribute your assets and protect them from being eaten up with taxes. Sometimes well-meaning people try to do their own estate planning, but this sometimes results in their attempts being totally thwarted because some of their paperwork gets thrown out in court (their Will) – and then the state decides who gets what, and the assets under the Will go into the estate, where it all becomes subject to estate taxes. A Will and other documents, when set up by people without the help of an attorney, may not anticipate certain forms of attacks because of inexperience, and this could make those documents highly vulnerable to being contested, unable to be validated, or inadequate to ensure that your assets will be given to those whom you intended.
Avoid Unexpected Results with an Experienced Attorney
Scott Schomer, the attorney at LA Probate Law is very experienced in estate planning, and knows the kind of things that could occur when assets are going to be dispersed. In fact, the larger the estate, the more likely it is that your Will is going to be contested. Your plans for passing on your assets to your heirs, needs to be carefully evaluated to ensure that they actually can escape heavy taxation and possible attacks from creditors, business partners, angry relatives, or complicated family situations. Remember, that it may only take one oversight, or misunderstanding of the laws, or improperly filled out paperwork, to cause some method to fail in its purpose. My office can show you many estate planning instruments, as well as the best ones suitable for your needs, to be able to get the job done and still keep as many of your assets intact and put into the hands of those you intended to receive them.
Reasons to Update Your Estate Plan
If you already have an estate plan, or a Will, or if it has been a while since you have updated your plan, LA Probate Law can evaluate it and make recommendations to you. This is also very important if you have moved to a different state, if you have bought property in a different state, created a business partnership or new business, or if your marital situation has changed. Another reason to update your estate plan would be if you have new additions to the family, or if any of them have become deceased. Also, if it has been awhile since your last review, it is quite possible that the laws governing the way your plan is set up might have changed, possibly rendering those tools ineffective to protect your assets under those tools from taxes. As laws change, or as your situation changes, it is important to keep your plans current for best results.
Be Prepared with Estate Planning
Perhaps the most important aspect of estate planning is to keep your assets out of probate altogether. This can be accomplished through a number of tools that will put them directly into the hands of your loved ones when you die, allowing it to bypass your estate altogether. Other tools may also help you to avoid some taxes – even while those things are still under your control. In some cases, you may want to ensure that the assets are not going to be misused and will be protected for many years to come. You may have children, for instance, that are still young and will need to depend on those assets to provide for them for many years. This can easily be done with a trust, or if you have a business that is in the family, a Limited Partnership may be ideal. If you do not have a large estate, LA Probate Law can also show you how to create one through life insurance when you die, and protect those assets, too, by putting them directly into a trust. There really are a lot of options when it comes to protecting your estate in California. Getting the help of legal counsel with a lot of experience in estate planning can also help to ensure that your hard-earned assets are beyond the reach of creditors, too. When you near the end of life, you also want to ensure that your assets are protected even if you should become incapacitated or unable to think clearly. Our office can help you create a Living Will which will help you put your assets under the control of someone you trust, thereby making sure that they are still protected and your original purposes for your assets not altered in any way. Whatever your needs are concerning estate planning, Scott Schomer is ready to help you be prepared for them.
Get Estate Planning Guidance with LA Probate Law
Latest posts by Scott Schomer, Estate Planning Attorney (see all)
- What are the Advantages and Disadvantages of a Living Trust? - January 15, 2019
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