While nobody wants to think about death or disability, establishing an estate plan is one of the most important steps you can take to protect yourself and your loved ones. Proper estate planning not only puts you in charge of your finances, it can also spare your loved ones of the expense, delay and frustration associated with managing your affairs when you pass away or become disabled. A simple estate plan will usually consist of a trust, a will, a power of attorney for asset management, and a health care directive. Some clients, however, can benefit from advanced estate planning techniques to minimize estate taxation on death. Once you have your estate planned, you can rest easy knowing that everything is in order for the future. Call The Brand Law Firm at (714) 769-6485 or toll free at (888) 510-0299 to help you draft the necessary documents to plan your estate.
Architects, doctors, attorneys and others who have sole or partner-oriented businesses can face financial ruin if they are sued. While most high-risk businesses generally carry malpractice or errors and omissions policies, this does not mean your personal assets will be protected. Asset protection trusts may be a good idea for you, only before there is a problem. The sooner you set up these trusts, the more valuable they will be in shielding your personal assets from business lawsuits. These trusts are nearly always established offshore allowing you additional protection from creditors and providing you unparalleled privacy. While these trusts are complex, the general idea is to appoint a trustee to manage assets and/or distribute income. As the trust’s settlor, you name the appropriate beneficiaries including yourself. To ensure there is proper oversight, a Protector is designated to provide consent for the activities of the trustee. You have the option to limit the term of the trust or have the trust be intact until your death. Asset protection trusts can be a valuable legal tool to help you protect your personal assets from business lawsuits; we can help you make a decision whether this type of trust meets your needs. Orange County sole proprietors, partners in a partnership or others who may be concerned about their personal assets if they could face a business lawsuit who wish to talk about an asset protection trust should contact The Brand Law Firm at (714) 769-6485 or call toll free at (888) 510-0299.
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