As the founding shareholders of Modern Wealth Law, John and questions to ask an estate lawyer Anh continue to work closely with homeowners and service owners throughout Laguna Niguel and Orange County. In order to the majority of effectively develop an estate plan for you, we take the time to find out about your household, profession, services, financial outlook, and your estate preparing objectives, to produce a customized estate plan that fulfills your requirements.

Our estate strategies include the following documents: There are 4 main factors why you need an estate plan: 1) Preventing probate; 2) designating recipients of your estate; 3) ensuring your small kids are taken care; and 4) avoiding estate tax. One of the main factors to have more than a standard will is so that you can prevent the probate process.

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Many people desire to avoid probate because it is 1) prolonged, 2) expensive, and 3) really public. John Wong and Anh Tran are highly knowledgeable probate attorneys serving Laguna Niguel and can assist you and your household if a household member has actually passed away "intestate" (having not made a Will or Living Trust).

As a California Bar Qualified Estate Planning & Probate attorney, John Wong can manage all of the intricacies of probate law and lawsuits between relative and creditors. Besides preventing the cost of probate, an estate strategy allows you to choose the beneficiaries of your estate. Without a well drafted estate strategy, the probate court's distribution of your possessions will likely not conform to your dreams.

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Typically times this results in disagreement amongst your recipients and leads to Trust and Probate Lawsuits. For most parents with young kids, the primary worry about estate preparation is what will occur to your children if both moms and dads are deceased. Do you want your children to remain in Laguna Niguel? Will the guardians likewise live locally? Without assistance from you, the court will be left to choose who, where and how your kids will be taken care of.

A properly prepared estate strategy can help you and your children from paying court costs for the next numerous years. The federal government will tax your assets after your death if your assets are above specific thresholds. These limits differ from year to year. Depending upon the value of your assets at your death, this may or might not be an issue.

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Although there is no specific California or Laguna Niguel estate tax on your estate, a properly drafted estate plan can help your loved ones prevent earnings taxes or capital gains from the sale of possessions after your death. If your beneficiaries live in Laguna Niguel, or other parts of California, they will pay some of the greatest taxes in the country without correct preparation.

If you live in Laguna Niguel, you understand that you will not find a condominium for less than $400,000 let alone a single family house. Oftentimes citizens think that their properties are less than $150,000 due to the fact that they do not have $150,000 of in their Laguna Niguel home. The Probate Court doesn't care.

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If you remain in a highly litigious industry, whether you are a doctor or a small company owner, you have most likely heard the stories about people being sued and losing all of their assets. While safeguarding your possessions has its limitations, there are lots of lorries available to secure your possessions, or at a minimum, make it harder for financial institutions to take your possessions.

There are high penalties for certain types of deals, called a fraudulent conveyance, which must be explored prior to considering each of these cars. If you or member of the family live in Laguna Niguel, and you want to find out more about our estate planning services, including living trusts, wills, probate administration and trust lawsuits, call us at or email us by contacting John Wong at Modern Wealth Law.

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Protect your possessions. With the rising uncertainty in today's economy, it is increasingly more important for individuals to use the advantages of an estate preparation attorney. Estate preparation is not simply for the rich, in reality, those with a minimal amount of possessions oftentimes benefit more from an estate plan in terms of conservation of their properties.

Our Orange County lawyers can assist you with Trusts and Wills and all aspects of your estate planning. Our strategies incorporate knowledge of tax law, wills and trusts, business law, and business-- all essentials for estate preparation in California. We will develop a strong estate strategy that will not just attain our customer's objectives in regard to defense and transfer of their possessions, however will likewise stand up to the test of time.