The attorneys at Sirkin Law Group have helped Woodland Hills residents with Estate Planning since 1992. Estate Planning is the loving act of providing for the future of your loved ones. The plan involves creating efficient ways of passing on your assets to your loved ones.
There are several ways of passing on your assets to your family. A simple will, a living trust, joint tenancy assets, and assets which pass by beneficiary designation or by contract.
Each of the various ways of disposition of your assets impacts who and how much is left to each beneficiary. For example, certain assets which pass by contract (such as IRA account) have tax ramifications for the recipient. So, you should consult an attorney if you are going to take advantage of leaving assets to your love ones in an IRA or via an annuity.
Some people can benefit from a living trust by having the trust avoid probate. Where there are significant disputes among family members, a living trust which normally would have passed without court supervision, may be brought under court supervision. This is important especially if you want the court to review the trustee's accounting.
Sirkin Law Elder law attorneys in Woodland Hills can assist you in providing proper advice as to which plan is best for your individual use. Contact our Estate Planning Attorneys in Woodland Hills at 818.340.4479 or email us at Info@SirkinLaw.com.
We are located at: 21550 Oxnard St. #300, Woodland Hills, CA 91367
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