Estate Planning Tools to Protect Family and Business

9:53 pm Estate Planning

estate planning image 284x250 150x150 Estate Planning Tools to Protect Family and BusinessNo one likes to think about dying, much less planning for it.  But if you care about your family and leaving a legacy of love rather than pain and confusion, estate planning is a must.

Designed to preserve your wishes and protect your loved ones, the estate planning process puts a variety of helpful legal tools at your disposal:

Will – a will spells out your personal wishes about the disposition of your assets.   Without it, the state will decide.

Trusts – you can avoid probate through the establishment of trusts and assignment of asset ownership.

Tax Planning – there are legal alternatives available to reduce or avert federal taxes on your estate.

Trust Administration – an experienced trust attorney can help you navigate through the state’s trust administration process, saving you and your family from stress and potentially expensive errors.

Guardianship – appointing a guardian ensures a minor child’s person and/or property and other assets are fully protected.

Charitable Gift Planning – designating gifts to charity can help you reduce federal estate taxes as well as lower income capital gains taxes.

Family Business Succession Planning – developing a plan for a successful transfer that won’t adversely impact the business or important family relationships.

If you are in learning what estate planning can do for you to help protect your assets and your family’s financial future, contact our Costa Mesa law firm.

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