Estate Planning and Advanced Estate Planning

Assisting you with a wide range of estate planning needs

What is an estate plan?  Many people confuse having a Trust or a Will with having an estate “plan”.  But that may not be the case.  While a Trust and Will are important tools to any plan, the key is to actually have a coordinated, thought-out plan for your assets, your personal care, and your future.  Once your overall plan is developed, then the necessary documents can be drafted to put that plan into action (such as creating a Trust and Will).  

Creating a proper estate plan may be the most important thing you can do to protect yourself, your family, and your assets. An estate plan has numerous benefits, both during your life and after your death. First, a proper estate plan protects you during your life by providing a predetermined plan of who will oversee you and your assets—and how such oversight will take place—in the event you become incapacitated. Without such a plan, your well-being would be left to the determination of the Courts.

Additionally, after death, a proper estate plan provides for your loved ones by setting out in an orderly, predetermined manner how your assets will be held, administered, and ultimately distributed. Such an estate plan can provide for your family without putting them through costly, time-consuming court intervention. However, time is of the essence, because you must create an estate plan during your lifetime and while you still have the capacitation to do so. Serious accidents or illnesses may occur at any time and when least unexpected, so it is never too early to call Albertson & Davidson, LLP to discuss creating an estate plan to fit your needs. 

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Our estate planning services

The attorneys at Albertson & Davidson, LLP have 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 and practical plans designed to accomplish each client’s individual goals. Some common estate planning services provided include: 

  • Living trust (also called a revocable trust)
  • Pour-over will1
  • Durable Power of Attorney for property
  • Healthcare directive
  • Various “funding” documents, such as deeds, trust certifications and assignments

 In addition to the above services, the estate planning lawyer at Albertson & Davidson, LLP are also highly experiences in designing more advanced estate plans for individuals with more complex needs, including reduction of estate or gift taxes. Such advanced estate planning tools may include:

  • Irrevocable Life insurance trust2 (ILIT)
  • Qualified personal residence trust (QPRT)
  • Family limited partnership (FLP)
  • Grantor trusts (also known as “defective trusts”)
  • Grantor retainer annuity trusts3 (GRAT)
  • Charitable trust or private foundation
  • Dynasty trusts
  • Asset protection trusts

Albertson & Davidson, LLP also 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 clients can benefit both a charity and their estates at the same time. We can develop the perfect charitable plan for you, including a charitable trust, private foundation, or other device.

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Contact an experienced estate planning attorney today

Estate plans are vital for everyone, whether you have a large or small estate. You do not leave yourself and your family members unprotected, so if you need to create or change your estate plan, call one of the California offices of Albertson & Davidson, LLP for assistance today.

Sources:

1http://en.wikipedia.org/wiki/Pour-over_will

2http://en.wikipedia.org/wiki/Life_insurance_trust

3http://en.wikipedia.org/wiki/Grantor_retained_annuity_trust

Los Angeles Office

400 Continental Blvd., 6th Floor
El Segundo, California 90245
213.670.7940 phone

Orange County Office

19800 MacArthur Blvd., Ste 300
Irvine, California 92612
949.608.0040 phone

San Diego County Office

2175 Salk Ave., Ste 190
Carlsbad, California 92008
760.804.2711 phone

San Francisco Office

One Market St., Ste 3600
San Francisco, California 94105
415.685.0909 phone

Silicon Valley Office

303 Twin Dolphin Drive, Suite 600,
Redwood City, CA 94065
650.596.9999 phone