Attorneys Helping You Protect Your Assets
Many people come into estate planning with the intent to provide for their loved ones or set out a road map for their future. With the help of an experienced estate law attorney, an estate plan can also protect the assets you have earned over a lifetime of hard work.
At Simkin & Associates, Inc., we can guide you through the estate planning processes that provide the best protection for you and your property.
Your Will Is The Start, Not The Finish
While your will is an important document to direct the distribution of many of your assets and even provide direction as to the care of any orphaned children, a will does not offer the asset protection that can be achieved through proper estate planning. Leaving only a will, with no other means for asset transfer, also increases the time your estate will spend in probate, causing unnecessary costs and headaches for your surviving loved ones.
A Living Trust Can Help
You don’t have to grow up with a trust fund to need a good living trust. A trust is a practical and flexible legal tool designed to reduce the costs and time of probate for anyone, not just the wealthy. It can also be used to minimize estate taxes that might otherwise become due. We may recommend that you consider trusts for one or more purposes:
- Tax minimization or avoidance
- Increased wealth transfer
- Sharing the profits of assets among beneficiaries
- Management of inherited assets for children or heirs of advancing age or impaired health
- Reduction in probate expenses and time
A trust can enhance your family’s wealth while allowing for complete control of all assets. Family members often serve as trustees, either alone or with professional independent co-trustees. Call today for a telephone consultation to discuss whether a trust is right for you: 310-788-9089.
Other Tools To Protect Your Assets
Even with a living trust, there is no guarantee for protecting your assets from creditors, especially in the medical or rental real estate profession.
Family limited partnerships, limited liability corporations and off-shore accounts can all be used to protect your wealth. We have extensive experience in business law as well as estate law, and we can help ensure that your business formation is a smooth and swift process.