ESTATE AND GIFT PLANNING

What is estate and gift planning?

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 gift 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 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 honour 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.

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