Albertson & Davidson

Estate Planning and Advanced Estate Planning

 

Creating a proper estate plan may be the most important thing you can do to protect yourself, your family and your assets. A proper estate plan protects you during your lifetime by providing a predetermined plan of who will oversee you and your assets, and how such oversight will take place, if you become incapacitated. Without such a plan, your well being is left to the determination of the Courts.

And at death, a proper estate plan provides for your loved ones with an orderly, predetermined plan on how your assets will be held, administered and ultimately distributed all without costly, time-consuming court intervention. But these benefits can only be achieved if you create an estate plan during your lifetime, before you become incapacitated.

Albertson & Davidson, LLP has extensive experience developing and implementing estate plans for all sizes of estates, big and small. From simple to complex, we can create a plan that meets your specific needs and desires. We focus on customized plans practically designed to accomplish each client's planning goals. And our unique Trust and Will litigation experience allows us to provide unique insight and guidance in creating a well-thought out estate plan.

Albertson & Davidson, LLP also has extensive experience implementing advanced estate plans using such estate planning vehicles as Life Insurance Trusts, Charitable Trusts, and Qualified Personal Residence Trusts focused on reducing or even eliminating costly estate and gift taxes.  

Albertson & Davidson, LLP regularly advises clients on charitable planning for those who wish to leave a portion of their estate to charity. There are a variety of ways in which client's can benefit charity and themselves at the same time. Whether using a Charitable Trust or a Private Foundation or simply making an outright gift to charity during life or at death, we can develop the perfect charitable plan for you.

Most clients need a basic estate plan that consists of the following documents:

  • Living Trust (also called a Revocable Trust)
  • Pour-over Will
  • Durable Power of Attorney for Property
  • Healthcare Directive
  • And various “funding” documents, such as deeds, trust certifications and assignments

In addition, some clients will need more advanced estate planning vehicles, including several listed below:

  • Irrevocable Life Insurance Trust (ILIT)
  • Qualified Personal Residence Trust (QPRT)
  • Family Limited Partnership (FLP)
  • Grantor Trusts (also known as “Defective Trusts”)
  • Grantor Retainer Annuity Trusts (GRAT)
  • Charitable Trust or Private Foundation
  • Dynasty Trusts
  • Asset Protection Trusts

 

Want more information? We have posted a number of our litigation forms in our Forms directory and on our blog. And we have a host of forms for other areas, such as estate planning, probate and trust administration.

To learn more about how Albertson & Davidson, LLP can help you in abused estate and Trust beneficiary litigation contact us today or call (951) 686-5296.