Estate Planning Attorneys in Santa Clara County
The Singh Law Firm is the foremost choice for families to handle their Estate Planning needs. Our Estate Planning services include traditional estate planning, all related aspects of estate and gift taxes, trust construction, and becoming legal counsel to high net worth families dealing directly with their “Family Offices”. Our practice involves wealth enhancement and transfer for individuals and business succession planning for closely held businesses. Representing our clients often involves more than drafting but understanding the dynamics of their family, their businesses. Further, our practice involves coordinating corporate activities and ownership with estate and financial planning for management and principal stockholders if necessary.
We use our business and legal experience coupled with problem-solving abilities to design an Estate Plan that meets your objectives. Our approach to estate planning includes a thorough review of your lifetime and testamentary planning needs. Typically, a client will need comprehensive, goal-oriented analysis, as well as traditional estate planning. Where appropriate, we recommend and execute the most sophisticated techniques to reduce transfer and inheritance taxes. Applying the appropriate technique to the right client situation is a function of experience and judgment that we have developed over many years, by exclusively focusing our practice on all aspects of Estate Planning. Our firm is proactive. We recognize that you cannot be expected to know the most current estate-planning techniques and we do not hesitate to present you with ideas that may be helpful to further your goals.
The estate planning attorneys at The Singh Law Firm provide comprehensive estate planning services to residents of Santa Clara County:
- Developing a plan for the possibility of future incapacity and planning for various contingencies
- A thorough analysis of the proper and improper use of various probate avoidance techniques
- Careful consideration of estate, gift and generation-skipping transfer tax consequences
- Ensuring that property is properly titled and trusts are appropriately funded
- Careful coordination of beneficiary designations on life insurance, retirement benefit accounts and other assets with the overall estate plan
Revocable Living Trust Attorneys ranked in the top 2.5% of Attorneys in Santa Clara County
Establishing an estate plan is one of the most important steps you will take to protect yourself and your loved ones. Proper estate planning protects your family from the heartache and frustrations associated with probate, which include but are not limited to managing your affairs when you pass away or become disabled.
Providing for Incapacity
If you become incapacitated, your family members or loved ones will not be able to take over your financial affairs or health care decisions. This is not automatic. In order for others to be able to manage your finances, they must petition a court to declare you legally incompetent. The legal term here is called obtaining a conservatorship. This process is lengthy, costly and stressful. Even if the court appoints the person you would have chosen, they will have to have the court involved in many of the decisions every year for an accounting. If this scares you, and you want your family to be able to immediately take over for you, you must designate a person or persons that you trust in proper legal documents so that they will have the authority to withdraw money from your accounts, pay bills, take distributions from your IRAs, sell stocks, and refinance your home. A will does not take effect until you die and a power of attorney may be insufficient.
In addition to planning for the financial aspect of your affairs during incapacity, you should establish a plan for your medical care. The law allows you to appoint someone you trust – for example, a family member or close friend to make decisions on your behalf about medical treatment options if you lose the ability to decide for yourself. You can do this by using a health care directive where you designate the person to make such decisions.
Santa Clara County Advanced Estate Planning Attorney
Planning for Death Taxes
The IRS taxes estates for individuals that are worth above the federal Exemption Amounts ($5.45MM for a single person and $10.9MM for a married couple as of 2016) If the Estate is larger than those amounts, they will tax the delta above the allowed exemptions. This is called a Death Tax, Estate Tax or Inheritance Tax. Many states have their own separate estate and inheritance taxes that you need to be aware of; California has no separate death tax system. There are many effective strategies that can be implemented to reduce or eliminate death taxes, but you must start the planning process early in order to implement many of these plans. Singh Law Firm’s Santa Clara County Estate planning Attorneys handle Advanced Estate Planning and are known for using cutting edge strategies to help their client’s save money.
We provide Skilled & Trusted Trust Administration services in Santa Clara County
A Trust Administration is NOT a court-supervised process, yet its ultimate goal is also the transfer of property from an individual who has died (the “decedent”) to that individual’s beneficiaries who are identified in his/her revocable living trust. The trust administration process is often complicated and confusing, and can seem overwhelming at times. Many times the process is hampered even further due to the emotions and conflicts that arise among the trust beneficiaries as a result of family dynamics and the grieving process. If not properly dealt with, these emotions and conflicts often play out in court in protracted and expensive trust litigation. Our Santa Clara County Trust Administration Attorneys can help you avoid such a result by offering you competent and capable assistance throughout the trust administration process.
Trusted Irrevocable Trust Lawyer in Santa Clara County
An irrevocable trust is simply a trust with terms and provisions that cannot be changed by the grantor. This is distinguished from a revocable trust, which is commonly used in estate planning and allows the grantor to change the terms of the trust and/or take the property back at any time.
Why would I want to use an irrevocable trust?
Using an irrevocable trust allows you to minimize estate tax, protect assets from creditors, and provide for family members who are minors, financially irresponsible, or who have special needs.
How do I create an irrevocable trust?
To create a trust, the grantor enters into a written trust agreement. He or she names a trustee to hold the property according to the terms of this trust agreement. The trust agreement identifies the beneficiaries and tells the trustee when distributions of trust property (including the original assets placed in trust, as well as the income on such assets) should be made to the beneficiaries. A well drafted trust agreement should plan for certain contingencies, such as what to do if the initial beneficiaries are no longer living.
Your Santa Clara County Estate Planning Attroneys – Exclusively Practicing Estate Planning!
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 Santa Clara 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 Santa Clara County cities:
We proudly serve the following cities in Santa Clara County by providing the best Estate Planning, Wills and Trusts and Trust Administration services around.
- San Jose
- Los Gatos
- Santa Clara
- Los Altos
- Mountain View
- Palo Alto
- Los Altos Hills
Santa Clara County Estate Planning Law Firm Ready to Help Plan Your Future
For skilled and trusted Santa Clara County Estate Planning representation from The Singh Law Firm, call (510) 742-9500. Let our family take care of yours.