As a family-focused practice, we will collaborate with you to craft legal and financial plans that suit your unique needs and goals. Our experienced estate planning attorneys will help you understand potential pitfalls and help you accomplish many important objectives including those listed below.
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Estate Planning Includes:
Protecting Your Family
Establishing wills, trusts and other estate planning documents minimizes confusion and contention for children and heirs, helping you disburse your assets the way you want, to who you want, when you want.
Preserving Your Assets
Advanced estate planning can protect your hard-earned money from unnecessary taxation, lawsuits and other creditor liabilities.
Providing for Special Needs Beneficiaries
For the angels among us who need help gifting to a child or loved one with special needs, we can help with a plan to benefit the intended recipient without jeopardizing their eligibility to receive public benefits.
Real estate transfers can be complicated, but we can help you determine how best to deed your properties in a way that may eliminate or reduce the implications of property reassessments and capital gains.
Protecting Your Children
For those with minor children, we can develop legal plans that name who and who will not care for your kids if you are unable to care for them yourself. Guardianship designations and trust planning can avoid foster care, excessive court fees and beauracratic red-tape in the event of the unthinkable.
Assigning Business Assets
Our business-savvy attorneys can help you through the oft-overlooked business succession process, protecting capital and liquid assets and maintaining a sound management plan in your absence.
Comprehensive Estate Planning in Chino, Orange County & The Inland Empire
No one likes thinking about their demise. It’s easy to procrastinate, but proper estate planning can save you and your loved ones time, expense, familial contention and worry by taking these critical steps sooner rather than later.
Circumstances change. Death, divorce, disability, medical emergency, financial catastrophe, remarriage, adoption, changes in state/federal law, tax codes…just to name a few. Your estate planning documents should acknowledge the possibility of these occurrences and accurately reflect your desires. We review our clients’ existing plans to be sure they are current, effective and tailored to meet the challenges that so often transpire.
What is Estate Planning?
Everyone has an estate, which is a compilation of all of your assets including property, real estate, bank accounts, cash, bonds, stocks and personal belongings, among other assets. Estate planning is the process of arranging and managing your estate strategically, so that when you pass away your estate will be divided amongst the beneficiaries you choose. To ensure your assets are distributed appropriately to your loved ones and your wishes are carried out, it is important to create a plan well in advance, however large or small your estate may be.
Tailored Planning Strategies
Just like no two people are alike, their estates are just as unique. At Voorhees Law Group, we create comprehensive, customized estate plans tailored to your individual needs and situation. Estate planning requires a lot of forethought, putting processes into place that will help will the management and division of the estate under a variety of circumstances, not just death.
Estate planning is more complex than just designating beneficiaries. It encompasses many different aspects including legal arrangements such as wills and trusts, the tax implications upon division of your estate, and the process in which estate division will be handled.
When someone is unable to make sound decisions regarding their estate or their health, arrangements for their care must be made in the event of incapacitation. Healthcare directives, or living wills, are an important part of estate planning and put processes into place in the event that someone can no longer make decisions for themselves. These directives can include the management of their estate, as well as their own personal wishes for their health care.
Powers of Attorney
Powers of Attorney
In some cases, it may become necessary to make decisions or act on behalf of another person. This process is much more straightforward if there is already a power of attorney in place. Power of attorney is a written authorization designating someone to act on your behalf should something happen to you, or you become unable to make sound decisions regarding your business affairs, health or estate. This is also another important component to comprehensive estate planning.
The cost of nursing care or nursing homes can be costly. Planning for this type of care can help ensure that you are eligible for Medi-Cal when the time comes, while preserving your assets as well. There are certain laws in place in the Medi-Cal code of regulations that allow for money and assets to be rearranged, transferred or safeguarded so your estate is secure for your spouse and beneficiaries, but is important to plan for these things ahead of time to lessen the risk and uncertainty when nursing care becomes imminent.
Wills & Trusts
Wills & Trusts
Wills and trusts are legal documents which coordinate the distribution of your assets upon death or incapacitation, and are an integral part of the estate planning process. While wills and trusts have certain similarities, they have their differences too. Our team can help distinguish whether wills or trusts are more appropriate for your situation, and which methods will more effectively safeguard your assets and estate.
Many parents or relatives want their assets to be distributed to their children in the event of their passing; however, it doesn’t always work out that way if proper planning wasn’t in place. In some cases, the court will control children’s inheritance which will be released when the minor reaches the age of 18-21. To have more control over who, when and what your children inherit, it is important to have this component worked into your estate plan so your minor children are protected.
Funding Your Trust
Funding Your Trust
Funding your trust is the process of transferring your assets to your trust. This includes changing titles over from your name to your trust, as well as changing beneficiary designations to your trust. Funding your trust is a critical step, since your trust can only control the assets you put into it. Our team at Voorhees Law Group can help consult with you on how to fund your trust during the estate planning process.
Consult With an Experienced Estate Planning Attorney Today
When you are ready to talk to an experienced attorney about your estate planning needs, we will be here for you. Reach out to us today online or by telephone at (909) 334-1425 for a FREE CONSULTATION.