Estate Planning

PROTECT YOUR LEGACY

Many people put off estate planning.  You have worked hard to provide a good life for your loved ones.  Proper estate planning allows you to plan ahead to make sure that your wishes are followed and your assets distributed to your beneficiaries.  If you died without a properly planned estate plan the State steps in and decides who the rightful heirs are, how much they will receive and when they will receive it, this is known as probate.  In California you must go through probate if your total estate is valued in excess of $150,000.00.  This value is easy to reach if you factor in property, life insurance, etc. as part of your total estate value.  These court proceedings are costly, time consuming, stressful, and can be embarrassing to the family (court records are public records).

With a proper estate plan you can avoid probate, reduce or eliminate estate taxes, allow quick distribution of your assets to your chosen heirs, keep your estate private and confidential, prevents conservatorship or guardianship if you become incompetent, if you become disabled, you still maintain complete control, professional asset management with you in control, minimizes emotional stress on your family and avoids contestability.

Estate planning is like building a house.  You need to have a strong foundation otherwise it will collapse!

PROTECT YOUR BUSINESS LEGACY

Buy and sell agreements are commonly used by sole proprietorships, partnerships, and closed corporations in an attempt to smooth transitions in ownership when each partner dies, retires, or decides to exit the business. It’s a legally binding agreement between co-owners or shareholders that kicks in if a co-owner dies or otherwise leaves the business. Having a Buy Sell Agreement in place allows the holder of a business interest to enter into an agreement that will provide for the future sale of that interest should death, disability or retirement occur.