As the founding investors of Modern Wealth Law, John and Anh continue to work closely with homeowners and entrepreneur throughout Laguna Niguel and Orange County. In order to the majority of successfully develop an estate plan for you, we put in the time to discover your household, profession, businesses, monetary outlook, and your estate planning goals, to produce a personalized estate strategy that satisfies your requirements.

Our estate plans consist of the following documents: There are 4 primary reasons you need an estate plan: 1) Preventing probate; 2) designating beneficiaries of your estate; 3) guaranteeing your minor kids are made sure; and 4) avoiding estate tax. Among the main factors to have more than a fundamental will is so that you can prevent the probate process.

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The majority of people want to avoid probate since it is 1) prolonged, 2) pricey, and 3) really public. John Wong and Anh Tran are extremely experienced probate lawyers serving Laguna Niguel and can help you and your household if a family member has died "intestate" (having actually not made a Will or Living Trust).

As a California Bar Certified Estate Preparation & Probate attorney, John Wong can manage all of the intricacies of probate law and lawsuits between family members and creditors. Besides preventing the expense of probate, an estate strategy allows you to choose the recipients of your estate. Without a well prepared estate strategy, the probate court's distribution of your possessions will likely not conform to your wishes.

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Many times this causes dispute among your beneficiaries and causes Trust and Probate Lawsuits. For many moms and dads with young kids, the main issue with estate preparation is what will take place to your kids if both moms and dads are deceased. Do you desire your kids to remain in Laguna Niguel? Will the guardians also live in your area? Without guidance from you, the court will be left to decide who, where and how your kids will be looked after.

An effectively drafted estate strategy can help you and your children from paying court costs for the next a number of years. how to become an estate planning attorney The federal government will tax your possessions after your death if your properties are above particular thresholds. These thresholds vary from year to year. Depending upon the value of your assets at your death, this might or may not be a concern.

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Although there is no particular California or Laguna Niguel estate tax on your estate, an effectively prepared estate plan can help your enjoyed ones prevent income taxes or capital gains from the sale of assets after your death. If your beneficiaries reside in Laguna Niguel, or other parts of California, they will pay a few of the greatest taxes in the nation without proper preparation.

If you live in Laguna Niguel, you understand that you will not find a condominium for less than $400,000 let alone a single household house. Many times residents believe that their properties are less than $150,000 because they do not have $150,000 of in their Laguna Niguel home. The Probate Court doesn't care.

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If you are in an extremely litigious industry, whether you are a doctor or a small company owner, you have actually probably heard the stories about individuals being taken legal action against and losing all of their assets. While protecting your properties has its restrictions, there are lots of vehicles readily available to secure your possessions, or at a minimum, make it harder for lenders to take your properties.

There are steep penalties for specific kinds of deals, called a deceitful conveyance, which ought to be explored before considering each of these automobiles. If you or member of the family reside in Laguna Niguel, and you would like to discover more about our estate preparation services, including living trusts, wills, probate administration and trust litigation, call us at or email us by getting in touch with John Wong at Modern Wealth Law.

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Preserve your assets. With the increasing uncertainty in today's economy, it is a growing number of essential for people to utilize the benefits of an estate preparation attorney. Estate preparation is not just for the wealthy, in reality, those with a minimal quantity of properties many times benefit more from an estate strategy in terms of conservation of their assets.

Our Orange County lawyers can assist you with Trusts and Wills and all aspects of your estate planning. Our techniques include understanding of tax law, wills and trusts, business law, and business-- all fundamentals for estate planning in California. We will establish a solid estate strategy that will not just attain our client's objectives in regard to protection and transfer of their assets, but will also hold up against the test of time.