TRUSTS

Revocable Living Trusts A living trust may be amended or revoked by the creator also known as the grantor or settlor at any time during his or her lifetime as long as he or she has capacity. Generally, the grantor is the trustee and manages the trust assets during his or her lifetime. A living trust may avoid probate and can provide for the private management of the trust assets.

A-B Trusts An A-B trust allows couples to reduce or avoid estate taxes. When the first spouse dies, his half of the property goes to the beneficiaries with the condition that the surviving spouse has the right to use the property for certain purposes. When the surviving spouse dies, the property passes to the trust beneficiaries and is not considered part of the second spouse's estate for estate tax purposes. Therefore, the second spouse's taxable estate to be half the size it would be if the property were left directly to the spouse.

Special Needs Trusts A special needs trust can be incorporated into your trust allowing you to provide for your loved ones, who receive SSI or Medicaid/Medi-Cal, and continue to maintain their benefits.

Other Types of Trusts Our offices provide estate planning counseling to determine if your estate should require other types of trusts, such as QTIP (qualified terminable interest property trusts), QDOT (qualified domestic trusts), irrevocable trusts, honorary trusts, charitable trusts, personal residence trusts, ILIT (irrevocable life insurance trusts).

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WILLS

Will A will is a legal document where you can name beneficiaries and a guardian for your minor children. You name an executor who upon your death pays any debts and taxes, and distributes any assets according to the provisions of your will.

Pour Over Will A pour over will simply directs that assets held in your name be transferred to your living trust upon death.

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ADVANCE HEALTHCARE DIRECTIVE

This document allows you to name an agent to make health care decisions for you if you should become incapacitated. You can also make wishes regarding matters such as life sustaining treatment, organ donation, and the disposition of your remains.

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DURABLE POWER OF ATTORNEY FOR PROPERTY MANAGEMENT

A durable power of attorney for property management provides for you to name an agent to make financial decisions and manage your assets on your behalf if you are unable to do so.

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LONG TERM CARE PLANNING

Elder law entails the process of planning, counseling, educating and advocating for the senior client. Our firm advises the client in relation to estate planning, Medicare, Medicaid/Medi-Cal, disability, and long term care planning. A senior client may often need legal assistance in these areas of the law which can be confusing and complex. We pride ourselves in providing seniors with confidential and trustworthy counseling in a patient environment. We take the time to explain the various programs and what is required for eligibility and services. We counsel the senior client and determine if he or she will need a will, trust, advance health care directive, power of attorney for property management, legal capacity counseling, estate and gift tax advice, and may provide appropriate referrals for finance specialists.

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