Estate Planning Attorney in Alameda County
Estate Planning is extremely important. Every one, whether their assets exceed a million dollars or exceed one billion dollars can protect their family from having an estate plan and having it prepared by a Law Firm that exclusively focuses on this area of law. If you don’t have an estate plan, Estate Taxes and California’s legislature have designed your plan for you, they will control how your assets are distributed after you pass away. They are not concerned about minimizing or eliminating estate taxes, cutting estate administrative costs or making sure your wishes are honored.
With a solidly designed Estate Plan, you will control not only who is able to make financial and healthcare decisions on your behalf if you become incapacitated or are in an end-of-life situation, but you will avoid Probate. Without a plan in place, someone might petition the court for control of your assets, medical care and other matters— potentially someone you would never have chosen or wanted to make these important decisions for you.
Top Rated Alameda County Revocable Living Trust Attorney
As Alameda County estate planning attorneys, we take a highly personal and custom approach to estate planning. We devote the necessary time to gain a thorough understanding of your particular goals and concerns. We will also explain all of your options in clear, easy to understand language. Only when we fully understand your unique situation, and you understand the options available to you, do we design a customized plan. The tools and strategies we can put to use to accomplish these goals include:
- A variety of Trusts, such as Revocable Living Trusts, Irrevocable Trusts and Minors’ Trusts
- Pour-Over Wills
- Health Care Directives
- Financial Powers of Attorney
- Nominations of Guardianships (who will care for your children)
Top 2.5% of Attorneys in Alameda County for Advanced Estate Planning
Our legal team is well versed in Advanced and Estate Tax matters, including creating irrevocable life insurance trusts, irrevocable trusts, special needs trusts, qualified domestic trusts (QDOTs), and charitable trusts. There are various gifting strategies that could be helpful to you and can be discussed so you can make the best decision. An Irrevocable Trust cannot be changed once established. The main objective of establishing such a trust is to avoid potential inheritance taxes your Estate may owe when you pass away. Irrevocable trusts are not for everyone. These types of trusts are normally established for high net worth families, or families with children who have special needs (some disability). Further, the assets you transfer to the Irrevocable Trust cannot be used/owned by you once you transfer them to the trust. Also, the settlor/grantor cannot use any income derived from these trusts for themselves. Therefore, you essentially give up all your rights and control over the asset. The trustee of the Irrevocable Trust normally has to be someone other than you as well.
An Experienced And Peer-Respected Alameda County Trust Administration Lawyer
Singh Law Firm was established to help California residents protect assets through a variety of trusts and oversee trust administration. Proactive planning is paramount for peace of mind and to prevent heirs from enduring a lengthy and complicated probate process.Specific trusts the Attorneys of our firm create and update include:
- Living Revocable trusts
- Disclaimer trusts
- Q-TIP trusts
- QDOT trusts
- Irrevocable trusts
- Properly administering the Trust, both during the Trustor’s lifetime and after death, is critical to achieve the desires of the Trustor. Assets in a properly funded Trust can be quickly and simply transferred to the intended beneficiaries upon death, without the delay and expense of a probate.Upon death, trust administration includes the following:
- Immediate review of the Trust, Will and assets by a knowledgeable attorney to determine any tax implications or requirements that are time sensitive;
- Inventory of all property owned by the Trustor, including property that will pass outside of the Trust, property that will be transferred to the Trust by Will, and property titled in the Trust;
- Procure the date of death values of all property, which may include professional appraisals of certain real property;
- Prepare a list of all debts at the date of death, including funeral and last illness expenses, mortgages and liens on real property;
- Manage, protect, and invest the property, including maintenance of appropriate property and liability insurance;
- Pay various debts and Trust expenses;
- Prepare and file California and federal estate tax returns;
- Prepare and record affidavits for the real property to establish the Successor Trustee, notify the county assessor of the changes in real estate ownership resulting from the Trustor’s death, and file documents required to avoid property tax reassessment;
- In some cases, allocation of assets to Subtrusts;
- Make Trust distributions to beneficiaries, including distribution of income to a surviving spouse or an income beneficiary, as determined by the terms of the Trust;
- And prepare periodic written reports to the beneficiaries on the financial status of the Trusts when appropriately requested by them.
Trusted Irrevocable Trust Lawyer in Alameda County
We have expertise in planning involving high net-worth and complex estates, and are known in Alameda County for drafting edgy estate planning strategies including the use of irrevocable trusts, business succession planning and charitable planning.
Meet Our Alameda County Lawyers
There is no better feeling than completing your Estate Plan, bring relief to you and your loved ones by having your Living Trust, Wills, Financial Powers of Attorney, and Health Care Directives drafted by reputable Alameda County Estate Planning Attorneys of The Singh Law Firm.
Our Mission is simple: “Exceed the expectations of every client, by providing a once in a lifetime experience… every time.”
Providing Estate Planning Legal Services in the following Alameda County cities:
We proudly serve the following cities in Alameda County by providing the best Estate Planning, Wills and Trusts and Trust Administration services around.
Alameda County Estate Planning Law Firm Ready to Help Plan Your Future
For skilled and trusted Alameda County Estate Planning representation from The Singh Law Firm, call (510) 742-9500. Let our family take care of yours.