WILLS: A will provides the most basic means to transfer property to surviving family members, friends, and charities. A will can also provide for the designation of guardians for the care of minor children and for the creation of trusts to provide for surviving family members. Administration of wills is done by a designated executor under the supervision of the probate court. For this reason the process can be costly and take months to complete.
LIVING TRUSTS: A living trust provides for the management and distribution of an estate under the supervision of a designated trustee who performs a similar function to that of an executor of a will. Trusts allow for the holding and management of the estate by the trustee and for distribution to children over a period of time as directed in the trust. Trusts are administered by the trustee outside of court. Avoiding probate saves considerable time and money. Living trusts can include provisions to help reduce estate taxes or in some cases avoid them entirely.
POWERS OF ATTORNEY: A power of attorney gives another person legal authority to manage and transfer property during the lifetime of the person granting that authority. Powers of attorney can grant authority over all of one's property or only specific property such as a house or bank account.
HEALTH CARE DIRECTIVES: A health care directive gives another person authority to make or assist in the making of health care decisions for the person granting that authority. This may include decisions regarding surgery, medications, and end of life decisions.
PROPERTY TRANSFERS: The transferring of property, whether during lifetime or after death, can have serious tax consequences. Certain transfers can be made without an increase in the Prop 13 property tax basis. Our office can guide you through the tax implications of real property transfers.
TRUST ADMINISTRATION: My clients can expect expedient and economical administration of a trust estate during emotionally difficult times.