ESTATE AND GIFT PLANNING

What is estate and gift planning?

estate planning attorney orange county
Estate and gift planning is all about finding new ways of making charitable gifts now or afterlife while availing financial benefits for you and your family. The term planning gift is sometimes, referred to as stop-and-think gifts because it requires planning and to do this planning you need experts’ suggestions. However, these are not made out of cash donations. They are made from the assets you possess in your estate.

Who needs estate and gift planning?

Those who want to secure their future must go for estate and gift planning. An estate planning is required when you want to transfer property from one generation to the next.

Estate plans involve a bunch of legal documents. This bunch of documents includes power of attorney, living wills, health care power and trust. People who would like to make lifetime gifts for their next generation can certainly go for this estate planning. This is an innovative way to secure your children’s future in the long-run.

Some people have a misconception about this concept. They think gift planning is only related to wealth. However, the actual truth is that even people of modest nature can make a difference with this type of gift planning concept.

Well, not everyone requires a complicated business plan, but everyone can certainly benefit from this plan. The estate experts will first start with your aims and needs, and then they will suggest you an innovative business plan that will put you into the estate and thereby help you achieving your business goals and needs.

Why should you come to Michael T. Walsh for Estate Planning in Newport Beach CA?

If you wish to secure your family’s future with your assets, come to Attorney Michael T. Walsh, who will give you expert advice on estate gift planning in Newport Beach CA. He has many years of experience in this field and therefore, he will help you to develop an integrated and collaborative gift planning strategies that will give you financial benefits in future.

Most people don’t want to think about death, and therefore, they don’t feel the need to do estate planning. However, the truth is that investing a little time in estate planning can help you paying off your lower taxes and administrative costs. This, in return, will increase the financial security of your future, and you can spend the rest of your life in peace. Attorney Michael T. Walsh for estate and gift planning in Newport Beach CA helps you determine the value of your estate.

In estate and gift planning, the value of your personal property, your personal assets, investments, business interests including your business account and life insurance policies come under estate equation. Therefore, an expert professional can recommend you the best plan for securing your future.

Tips on what are the things you need for estate and gift planning in Orange County
To ensure your future with estate and gift planning in Orange County, you must have these essential documents. Here is a complete list —

The will:
The will is a way to honor your wish. This is an important thing to ensure the future of your kid. Without a will, the decisions will be taken by strangers in a courtroom that may be contrary to your wish. Therefore, you should make your will ready as this is going to play a major role in future.

Information Memo:
You should keep a list of your bank accounts, investment and retirement accounts, insurance policies, debt, credit, tax related documents and other important financial information.

The power of attorney:
You must choose your power of attorney who will conduct your business and financial affairs after your death.

Instruction to physicians:
A directive to the physician is a very important task. The documents will explain the medical treatment you wish to take and also the name of the person whom you consider taking your medical decisions.

You should keep these original documents in a fireproof safe place, or you can hand it over to your attorney who will keep these documents under his security. You will be asked to submit these documents at the time of making estate and gift planning.

Estate Planning Attorney Orange County Secure Your Life and After

Property and real estate is a huge part of the investment in a person’s life. In Orange County, estate evaluation is increasing to a higher point, and everyone is looking to secure their asset. The estate planning attorney Orange County, The Law Offices of Michael T. Walsh is here to serve you with all these requisites. Along with that, you will have other advantages like – understanding legal procedure, taking rational decisions and more.

What is estate planning attorney in Orange County?

This phrase is very important for one and all who owns estate asset. It is a legal process by which an individual transfers the asset in anticipation of death. Estate property deals with the management of assets while a person is alive and after his death by minimizing points and prospects of uncertainty over the deceased person’s statement. It also includes increasing the value of the estate by cutting down taxes and other expenses.
In short, estate planning is about maximizing asset for the beneficiaries and keeping it flexible for the individual before his/ her death.

What does estate property comprise of?

It includes all. Everything that is related to your property is a part of this. For example, it includes – bank account, car, house, real estate, etc. Experienced attorneys ensure to carry out your wishes and instruction ‘to the t.’

What is the connection between estate – will and trust?

“An estate plan begins with your wills and trusts.”
The wills and trust attorneys Orange County are to focus more on giving insight on these three aspects – estate, wills, and trust. Wills and trusts are the two ways to dispose of wealth.
• Will – It is a legal document that comes to action when the individual is dead. It is the after instruction and distribution to follow.
• Trust – This is a bit different from wills as it includes three phases of property security and channelizing the estate – when the person is alive, at the moment of death and finally after death. Trust is a legal organization or institution who will take care of your property as a ‘trustee,’ and one you will nominate to pass on your property will be ‘beneficiary.’
In case the beneficiary is a minor, his or her parents will be liable to take care of the property. But in a certain condition, it remains under the trust and passes on to the beneficiary as soon as he/ she becomes an adult.

Why attorney specializing in estate planning Orange County suggests planning for future?

Estate planning is extremely crucial. There are still many people who make no estate plans. If you haven’t, then the federal law is already present in that condition, and it will not be very likely. We will give you a glimpse of what will happen if you don’t plan your investment in future –
• In case of disability –
If you don’t have an attorney by your side who has already set your estate plan and you suddenly turn disable, the court will have control of the asset. The court will appoint a person (not from your family) who, from then on, will have conservatorship on your property.
• In case of death –
If you don’t have an estate planning attorney Orange County or there is no will/trust; after death, all your property will fall under probate law. If you are married, your property will go to your partner and children in equal division. This might not be your plan. And if your children are minors, their inheritance will be controlled by the court.

To avoid such situation and condition, The Law Offices of Michael T. Walsh have estate planning attorney to help you in this.

When do you need attorneys?

The Law Offices of Michael T. Walsh believe that every individual, no matter how small or big their property is, must have an attorney. If you have second thoughts regarding the advantages to get from paralegals, here is a glimpse to check –
• Save tax
When you put your property in a trust and make wills, attorneys at The Law Offices of Michael T. Walsh will use it to make sure that you can save some tax. This keeps a lot of your money intact and maximizes your estate evaluation. At this company, a professional attorney specializing in estate planning Orange County will help you and your beneficiary to get the maximum benefit.
• Don’t have to take the hassle of visiting court
The Law Offices of Michael T. Walsh will do it all for you. After discussing with the client, their team will do the paperwork and fulfill other legal requirements. Like this, you don’t have to suffer from any hassle or trouble. So, with this, you will not only save money but time too.
• Know the legal terms
There is always a difference between one regular writing and legal writing. There are several federal sections to include which add more value to the will or trust. Additionally, with a paralegal by your side, you will have a complete understanding of this.
• Get rational advice
Sometimes, your wants and wishes do not fit legal parameter and can reduce the estate value. It is only a paralegal who can help you in having a better idea regarding all of these. The Law Offices of Michael T. Walsh work to help you make better decisions and choices regarding the matter.
• Have emotional support
Orange County Best Will and trust attorney, Michael T Walsh is there to make better relationships with clients. In times of tiffs regarding property, custody and more, usually, individuals fall weak. These emotional crises can arise quite often, but when one has to think, it should not have the baggage of emotional burden.
Attorneys at The Law Offices of Michael T. Walsh make sure their clients are emotionally strong and take appropriate decisions to have a better life.
What are the legal tips to plan for estate and will?
When hiring estate planning attorney Orange County, we advise you to keep the following tips in mind –
• Do the due diligence from beforehand
Lawyers who are into property planning will have several public records that you can check. It will help you to have a clearer idea about his/ her work pattern.
• Qualification and experience
Make sure you are hiring someone who has passed the bar exam. Also, you should opt for ones who have experience in planning estate.
• Do not get biased with unrealistic promises
Words too fancy and unrealistic will not fetch you any good choice. Rather, you should go for quality and make sure that your lawyer can provide all your requirements.
• Fix a meeting
You should meet attorney specializing in estate planning Orange County and have a word. Moreover, will give you a clearer idea regarding how your attorney works and other intrusive details. If you feel content with the person, then go ahead and appoint as your lawyer.

What makes The Law Offices of Michael T. Walsh the best choice?

With years of experience, they can assure you perfect security of estate. Their service has only one motto and that is 100% client satisfaction. Along with experience and qualified staff, they have some extra to offer –
• Flexible work
• You can get every legal advice from them (financial, personal, child custody, etc.)
• All your work will be done on time
• Their fees structure is most competitive in Orange County
• They have the amenities and skill to enhance your property benefit
• 100% transparency at work

You can call for estate planning attorney Orange County anytime and secure your asset. Hope to hear from you soon!