Estate planning is the process of making informed decisions regarding the management and distribution of your care and your estate (your assets) during your lifetime and after your death, while also creating a plan to ensure that your wishes are fulfilled by the individuals you appoint. This process can also include business succession planning to ensure a smooth transition of your business interests. Some of the key decisions and plans in estate planning include the following:
Who will manage your estate if you become incapacitated or when you pass away?
Who will take care of your minor children if you are unable to care for them?
When and how will your family members or loved ones receive your assets?
Who will make health care decisions for you if you are unable?
How to protect your beneficiaries from future ex-spouses or creditors?
Ways to avoid the probate administration process.
Strategies to minimize the payment of estate taxes, income taxes, or property taxes.
Methods to avoid or minimize family disputes.
Estate planning documents are prepared to ensure your wishes are carried out by individuals you appoint. These documents may include all or some of the following:
Revocable Living Trust
Will
Durable Power of Attorney Over Assets
Advance Health Care Directive
Trust Certification
Funding Documents
Property Agreements, such as Deeds.
Estate planning that involves more complex or sophisticated documents may be essential to fulfill your wishes. As part of our comprehensive services, we also focus on business succession planning to ensure a smooth transition of your assets. We draft the following types of documents: Gift trusts, Life Insurance Trusts, Generation-Skipping Trusts, Grantor Retained Annuity Trusts, Qualified Personal Residence Trusts, Charitable Remainder Trusts, Charitable Lead Trusts, Foreign Trusts, Limited Partnerships, Limited Liability Companies, Corporations, and Partnerships. Additionally, our expertise in probate administration ensures that your estate is managed efficiently.
Probate administration can be complex and very stressful. Maria and her team have the know-how and resources to guide your loved ones through the process in the various courts of Southern California. While trust administration can be less complex than the probate process, your successor trustee may still need help to navigate and comply with all requirements, especially as part of effective estate planning and business succession planning.
If you own and manage a business but have not considered business succession planning for when you are incapacitated (i.e., disabled) or pass away, it's important to take action. Call Maria to discuss estate planning options that ensure your business continues seamlessly or is properly wound down after your passing, while also addressing any probate administration concerns.
Maria has formed hundreds of corporate entities, including corporations, limited liability companies, and partnerships, while also drafting the necessary compliance documents. To ensure that all aspects of your business succession planning, estate planning, and probate administration are addressed, it's essential to hire an experienced attorney for your corporate formation. When you choose Maria and MBLI, we will not only draft your formation and operating documents but also guide you in the effective operation of your business.
Maria will assist you in drafting and reviewing all types of agreements, especially in the context of business succession planning and estate planning. It is crucial not to sign and legally bind yourself without an attorney reviewing your documents first. We want you to fully understand what you are signing and help you negotiate a great deal, ensuring a smooth process through probate administration if needed.