Do you know what will happen to your children if the unthinkable happened to you and your spouse?
Do you know what the people you love would have to deal with if something unexpected happen to you?
Do you know what will happen to your assets if you die without relatives in the United States?
Do you know you may be liable for the federal estate tax if you die?
If you have not thought of these questions, you should take time to think about them from now on.
 

Estate Planning inside families 

     

Most families put off estate planning because they do not think they have significant assets that need protection. The truth is that a thoughtful estate plan is the only way to protect those who you love if something unthinkable were to happen to you. Even if you do not own substantial assets, you must have a basic plan in place to handle the emergency such as incapacity and death. For instance, you should name a legal guardian who is in the United States if you have a minor child. A lot of immigrant couples have their relatives outside the country. Once they both pass away, the court has nobody to assign the child to be the legal guardian. Even after your child becomes an adult, you also need to plan on how to protect your assets against creditors; how to avoid asset division in the divorce cases; who will be making medical decisions for you. In a blended family (one or both spouse has more than one marriage), the relationship turns out to be complicated. You want to make sure that your current spouse and your own children are protected.

 

  • Married couple with Minor Children

  • Married couple with Adult Children

  • Married couple No Children

  • Single with Children

  • Single with no Children

  • Blended Family Planning

Asset Protection Estate Planning

People face unexpected lawsuits, creditors, health issues every day. For example, if you become incapacitated due to a car accident, you hope not to get a tremendous amount of medical bills which will deprive you of your assets. Or if you are in a divorce proceeding and hope that your assets will not be jeopardized by the judgment. There are many strategies to protect your assets while you are alive and after you are gone. The ways to protect to assets include life insurance, prenuptial agreements, asset segregation, gifting, LLCs, partnership, corporations, and asset protection trust.
 
Our services in estate planning law include but not limited to:
 

  • Wills

  • Revocable Living Trusts

  • Powers of Attorney

  • Irrevocable Life Insurance Trusts

  • Health Care Proxies

  • Tax Advice

  • Tax Audit

  • Trust Administration

  • Minor guardianship

  • Adult guardianship

 


Click here to see the FAQ of Estate Planning Law Section.