If parents don’t make a will or do some serious estate planning in a second marriage, there will be a disaster for the children

Siesta Key, FL (PRWEB) April 26, 2012

Estate planning in a second marriage is almost as hard as finding the perfect spouse. Many couples never even make a will. After all, estate planning wasn’t a big deal when they each got divorced or were widowed.

In a divorce, all the property is divided up by court decree. If a spouse passes away, and there was no estate planning, the surviving spouse may have to go to court to get the deceased spouse’s property cleared. A court decree would have been issued in the “probate” process.

“If the first spouse died and everything was held in joint tenancy between the couple, there most likely wasn’t any probate problem,” explains Jonathan Cavender an attorney in Orem, Utah. “That means instantly upon the death of a deceased spouse, the surviving spouse would own all of the jointly held property. Even if the couple never created a will, everything will go to the surviving spouse, just like they wanted,” he continued.

In the second marriage, the same thing will occur if the new couple put everything in joint tenancy with the second spouse. However, that may not accomplish what they want. Cavender runs through the following scenario.

“Assume the new couple are in an auto accident. They didn’t make a will or do any other estate planning, except put all of their assets in joint tenancy. If one of them dies at the scene of the accident, instantly the surviving spouse will own all of the assets.

“Assume the surviving spouse dies on the way to the hospital. Because neither one had a will, the assets will now move through the “intestate” (meaning dying without will) probate process.

“The scenario gets expensive and convoluted here, because the intestate probate process will move all of the property to the second spouse’s heirs. His or her children will get everything. The children of the first spouse to die will not receive any of the assets.”

Kristy Phillips, attorney and author of “Guaranteed Millionaire: Using the Law to Make Money and Protect Your Assets,” adds, “If a couple doesn’t make a will or do some serious estate planning in a second marriage, there will be a disaster for their children.”

She continues, “In a second marriage, it’s critical to use a living trust and establish a life estate for the surviving spouse.” A life estate will allow the surviving spouse to have the benefit of the assets until he or she dies, then the property will be divided between the couple’s heirs as they desire.

“A life estate probably works best when there isn’t a large estate. If one or both spouses have large estates prior to their getting married, they should probably separate their estates using a prenuptial agreement rather than using a life estate established by a trust,” Phillips said.

Planning to take care of one’s assets before a second marriage is just as much a part of estate planning as trying to make a will and take care of personal assets after marriage. For more information on Estate Planning, visit Legalees.com.

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Article source: http://www.prweb.com/releases/2012/4/prweb9439680.htm

My friend Jim Flanagan in New Jersey always said he planned to live to be 100 and die with one shiny nickel left to his name. His four children — and now a couple of grandkids — understood that it wasn’t that he didn’t love them or want them to be financially comfortable, but rather that he intended to give them the education and skills to earn their own livlihood and then let them do precisely that. Flanagan, who taught college and high school English before he retired, ascribed to the philosophy: “Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.”

It’s a great attitude and I’m all for raising self-sufficient kids, but many a spend-it-all-and-then-I-die plan runs afoul of timing. The reality is, you can’t predict illness or emergencies and there are far greater odds that my friend will die with something left over — which is why he would be wise to figure out the who-gets-what part of estate-planning. And that goes for the rest of us too.

Those familiar with estate planning, like Ann-Margaret Carrozza, elder law and estate planning attorney based in New York, say it is never too early to make those plans and to make sure they are updated every few years as circumstances change. And it all begins with a conversation with the whole family.

There are lots of things to weigh and some truths to confront, and as painful as the conversation may be for some families, not having it will only result in more pain later on, said Carrozza. Our lives are complicated. There are remarriages, step-children, adult kids who can’t handle money or are married to dolts. There are children with special needs, grandchildren with college worries, surviving spouses who remarry and nobody likes the new wife. Our lives are messy, said Carrozza, but an honest conversation now can pre-empt problems later on.

Here are some tips to get the ball rolling:

Get off the dime and get a will already.
Everyone needs a will, said Carrozza, and yet only about half of us have one. A will needs to spell out not just who gets what but also how they get it. You may also need to establish at least one trust, possibly more, to ensure that the directions of the will are carried out. Determine what your goals are and think out all possible scenarios. Each scenario needs to be addressed.

For example: Many married couples want to set things up so that the surviving spouse gets everything and then when the surviving spouse dies, it all gets left to their children. But what if Dad remarries after Mom dies and then is outlived by his new wife? Should that new wife be allowed to live in the family house until her death — thus delaying when the adult children can realize it as an asset? What if Wife 2 devoted herself to caring for Dad, keeping him out of a nursing home and protecting the family’s other cash assets by doing so? Still ready to put her in the street?

While a question for individuals to work out for themselves, many wills create trusts for the property which, in this case, would allow Dad to remarry and live there with the new spouse, but upon Dad’s death, the house would revert to a trust managed by his adult children. The trust would stipulate whether his new wife could continue living there for a fixed period of time or until she dies. It might stipulate that if she remarries or moves another companion in to live with her, her rights to the house end. It might stipulate that she pay rent to the adult children who now own the house.

And Dad’s will may have left his second wife a chunk of money, an acknowledgment of the care she gave him and his value of their marriage. Re-marriage is an excellent time to re-do a will.

Be honest about family shortcomings.
Parents may feel that their older adult daughter is more responsible than her younger sister. The younger one may have made what the parents see as some bad life choices. They think her husband is a freeloader and fully expect the marriage to end in divorce. They live in a community property state and half of what they give their daughter will become his. Yet they want to be fair to both their children.

They can set up a trust for the younger daughter, doling out her inheritance either in increments or with the approval of her older sister. It isn’t likely to foster a lot of harmony between the two siblings, but it’s the parents’ money and up to them to decide where — and how — it should go.

Consider step-children.
We live in complicated times and with blended families, things can get hard to sort out. If the children are adults when a remarriage occurs, many people simply provide for their biological children with their inheritance. In some cases, a stepson becomes close to the new parent and is included as an heir to that parent. It all depends on the relationship and what the parents feel is the right thing to do.

Delegate assets, beyond the house and money.
This is the “who gets Grandma’s three-carat diamond ring?” stuff. Everyone has some family heirlooms — some of greater value than others. It’s best to dispose of these outside a trust, although they can certainly be included, said Carrozza. Typically, they are gifted to a child during life or a child helps himself to it. Generally, it just passes under the radar.

If the object has a large monetary value, one of the kids might question why it went to his brother’s wife instead of his. Again, it’s your money, your diamond ring, and your choice. The rest is just noise.

Get a lawyer, but don’t leave this all up to the lawyer.
Estate planning has lots of ramifications, including not just making sure people get what you want them to. It also has lots of tax implications. For the best results, you need sound legal advice and the understanding that the lawyer won’t know about your family dynamics, shortcomings or needs. Stay involved.

Long-term care and your estate.
The national Medicaid program covers most nursing home stays after you exhaust all your resources. While eligibility varies from state-to-state, in order for Medicaid to kick, your assets can be no more than $14,250. A principal residence occupied by a surviving spouse is exempt from consideration in most states, but in some cases, if it isn’t in a property designed trust, it could come into play, with the Medicaid program requiring it be sold and the nursing home costs reimbursed, said Carrazzo.

Best bet: Talk to a lawyer who can help protect your assets. There are tax implications that can be addressed now that will protect your assets

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Estate Planning Attorney

San Jose, CA (PRWEB) April 20, 2012

Attorney Francis Doyle of WealthPlan, an esteemed estate planning law firm has recently been awarded with an AV Rating by Martindale Hubbell®. The rating is given out to those that have demonstrated outstanding ability in their field in addition to a high level of moral standards. The ratings are determined by assessing the knowledge of the attorney, in addition to their experience, judgment, communication and analytical capabilities. Professional peers of the lawyers such as the judiciary and other bar members are who determines the Martindale-Hubbell® PEER REVIEW RATINGS™ including which professionals receive them and which rating they are given. The scale ranges from between 1.0 up to 5.0 with the highest rating being an AV® Preeminent™ which is achieved by a rating between 4.5 and 5.0.

Founding partner at the firm, Frank Doyle has practiced law for almost 30 years; developing and further growing his skill in every case he represents. As a specialist in taxation law, trust and probate law as well as estate planning with certification by The State Board of Legal Specialization, he thoroughly understands the ins and outs of estate planning cases. Before opening his own firm he was a shareholder for a large firm at which he also practiced in trust administration, trust litigation and tax and estate planning. He currently serves on the Diocese of San Jose Planned Giving Committee, the Santa Clara University Planned Giving Committee and the Silicon Valley Planned Giving council of which he is a former president. He was recently received the highest rating possible with an AV® Preeminent™ of 5.0 out of 5.0; a testimony to his outstanding legal aptitude.

The firm which is located in San Jose has been serving clients for over 15 years with their legal needs. The attorneys at the firm have notable backgrounds including years in tax law, probate and trust administration, estate planning, real estate transaction and more. Their comprehensive understanding of the law is a great asset to the claims that they handle. Over the years they have been able to enlist their skill for an outcome that is in the best interest of their clients. The legal team provides a high level of service to individuals, businesses, executives and more. Consulting with a San Jose estate planning lawyer is a wise step for any individual and through careful assessment and strategizing, their firm has helped many to prepare for the future. To find out more about the firm, take this opportunity to call their office or visit their site to speak with an attorney about how they can help. Contact a San Jose estate planning lawyer from the firm today.

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U.S. Master Pension Guide, 2012 Edition
Part of CCH’s Master Series of professional guidebooks. The book provides a comprehensive explanatory overview of qualified retirement plans and other retirement arrangements, reflecting up-to-date law changes and regulations. Benefit COLAs, calendars, and tables reflect the year 2012 figures.

CCH® PENSION — 04/20/12

Inherited IRA was exempt from debtors’ bankruptcy estate

In a case of first impression, the U.S. Court of Appeals at New Orleans (CA-5) ruled that funds in an inherited IRA were exempt from the bankruptcy estate of the debtors under Bankruptcy Code Sec. 522(d)(12).

Prior to filing for bankruptcy, one of the debtors inherited an IRA from her mother. The debtor established an IRA to receive the funds from her mother’s IRA and the funds were directly transferred to the inherited IRA. Thereafter, the debtors filed for bankruptcy under Chapter 7 of the Bankruptcy Code. The case was later converted to Chapter 13 of the Bankruptcy Code. The debtors claimed the inherited IRA as exempt from their creditors under Bankruptcy Code Sec. 522(d)(12). The bankruptcy trustee objected to the claimed exemption. The U.S. bankruptcy court, in a 2010 decision, sustained the trustee’s objection. However, the federal district court reversed, citing a number of cases decided subsequent to the bankruptcy court’s ruling that arrived at the opposite result. This appeal ensued.

Section 522(d)(12) allows an exemption for retirement funds in an account or fund that is exempt from taxation under Sections 401, 403, 408, 408A, 414, 457, or 501(a) of the Internal Revenue Code. Thus, the exemption claimed must satisfy two requirements: (1) the amount that the debtor seeks to exempt must constitute retirement funds and (2) those funds must be in an account that is exempt from tax under Code Secs. 401, 403, 408, 408A, 414, 457, or 501(a). The issue on appeal was whether inherited IRAs satisfy these two requirements of Bankruptcy Code Sec. 522(d)(12), a case of first impression for the circuit courts.

Retirement funds

As to the first issue, the court noted that the phrase “retirement funds” is not defined in the Bankruptcy Code. However, the court observed, most of the courts that have analyzed this issue have concluded that inherited IRAs are retirement funds. These courts have noted that the bankruptcy statute does not explicitly limit “retirement funds” to funds that belong to the debtor. Accordingly, the courts have reasoned that “retirement funds” can include the funds that others had originally set aside for their retirement, as with inherited IRAs. The defining characteristic of “retirement funds” is the purpose they are “set apart” for, not what happens after they are set apart, the court said. Here, the funds contained in the debtor’s inherited IRA were “set apart” when the debtor’s mother deposited them in an IRA. Thus, the funds contained in the inherited IRA constituted retirement funds under the bankruptcy statute, the court held.

Grounds for exemption

Since the transfer of the mother’s IRA to an inherited IRA had already occurred at the time the debtors filed for bankruptcy, the court noted, the dispositive issue was which Code provision rendered the inherited IRA exempt from taxation subsequent to the transfer. The expansive language of Code Sec. 408(e) (“[a]ny individual retirement account is exempt from taxation under this subsection …”) indicates that Code Sec. 408 is the exempting section for all IRAs, the court held.

While inherited IRAs operate differently from traditional IRAs, the definition of “individual retirement account” in the Code encompasses inherited IRAs. Accordingly, said the court, after an inherited IRA is established, it stands to reason that distributions from the inherited IRA are subject to the same provision as all other IRAs–that is, Code Sec. 408–for the purpose of determining whether they are exempt from taxation. Because Code Sec. 408 is one of the sections specified in Bankruptcy Code 522(d)(12), inherited IRAs are contained in an “account” that is “exempt from taxation” as that phrase is used in the bankruptcy law.

Since both requirements of section 522(d)(12) of the Bankruptcy Code were satisfied, the court affirmed the district court’s opinion and held that the inherited IRAs were exempt from the bankruptcy estate.

Source: In the Matter of Chilton (CA-5).

For more information, visit http://www.wolterskluwerlb.com/rbcs.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer’s Benefits Reports.

Visit our News Library to read more news stories.

Article source: http://hr.cch.com/news/pension/042012a.asp

It tends to happen to big companies or government-related entities in the West more than it does to smaller firms and individuals, but we are all in the firing line. We have all heard of the individual who has been made bankrupt by a lawsuit and, likewise, we have heard about those who seem to have got away scot-free.

In the pantheon of litigation, there is the man who was sued for everything he owns, lost the case and still seemed to be no worse off for it. Then there was the well-known colourful businessman whose business went into administration, was declared bankrupt, only for him to reappear happy and thriving just a few months later.

What was the difference? The smart ones had good lawyers, some may have whispered. Perhaps everything was in the wife’s name? There may be truth in this, but the success or not often lies in the use (or not) of asset-protection structures.

This article is not seeking to endorse asset protection, only explaining how it may be used. It can be used both legitimately and illegitimately. The same legal tools used to protect the innocent from the rapacious may be used by the guilty to thwart truly injured parties. Asset protection has one real purpose only – to put as many legal barriers between a person wanting something and someone who doesn’t want that thing to be taken.

At some stage, many expatriates in the UAE will leave to return to their home countries, hopefully with a range of investments and assets, such as a house and holiday homes, to their name – all of which they will have to protect.

Protection without legal structures

A very common move is for a husband working in a high-risk business to put the ownership of all assets (say the family home and cars) in the name of a spouse who is “not at risk”. So the wife is on the title of the house and the rest of the family have what is termed “beneficial ownership”. Good protection? Possibly not. When family assets are held by one spouse, extreme care needs to be taken in relation to the terms of the will of that spouse. Upon the death of the spouse, the assets will transfer automatically to the surviving spouse. This spouse not only is shattered by the death, but may also become more shattered by realising the family assets are now at risk when turned over to the “at-risk” husband. A creditor or litigant, with no respect for the personal loss, may swoop.

Should they separate or divorce, the courts that deal with family matters will look behind any ownership structure when deciding how to divide the assets. Care needs to be taken if there are concerns over the long-term viability of the marriage.

Another method is to protect assets by allowing a trusted friend to own the legal interest in the assets. The friend allows the benefit and control of the asset to stay with you. The arrangement is not documented and can even be untraceable. The trusted friend is the legal owner.

The problems with this arrangement occur if the trusted friend “gets into trouble” if he decides, on second thoughts, not to transfer the legal ownership back.

Protection with legal structures

To avoid some of these problems, the most commonly used asset-protection structure is a trust, but companies are also used to provide “layering” around assets. A trust is basically an agreement or a promise. A person or company agrees to hold assets for the benefit of another. The one who legally owns and controls the assets is called the trustee; those who benefit are known as beneficiaries.

The trustee has legal control, but this is a legal title only. A person with legal control can buy and sell an asset, but will never own or enjoy the benefits of ownership, such as income or usage. It’s the trustee’s name that appears on all legal documents and bank accounts, for instance.

Asset-protection specialists will tell you that a structure must be developed that incorporates the principle of separating the legal ownership of the assets from the person who uses them and enjoys them. Think of it like this: if a person has a car, but it is owned by a finance company, then they still enjoy the benefits of using it – and full control over the use of the car. They are beneficiaries, but not owners and the creditors cannot touch them. When a creditor comes calling, he can only deal with a legal owner, not the car’s beneficial one.

In the same way, the beneficiaries of a trust can enjoy usage of assets – but even more than this – they can have all the income and profits even though legal title is in the trustee’s name. In this way, the trust is split into three ideas – ownership, control and benefit.

Say a professional or a business is sued by either an employee or a client, the assets could be protected because they can be remotely owned by a separate entity and used under a licence agreement.

In such a circumstance, all the business owner does is wind up the trading company that is being sued, establish a fresh one with which to transact further business and re-establish a new licence agreement (see illustration, above).

Take another situation that adds yet another layer to the structure. The Smith family (mum, dad and two children) sets up the Smith Family Trust. The family home is owned by Mrs Smith because she is in non-risk employment, while Mr Smith is a highly successful businessman in a high-risk field. The business, beach house and the expensive cars they own are legally owned by the trust. The trustee is Smith Pty Ltd, of which Mr Smith owns all the shares.

Control of the business, beach house and the cars is with a new entity, this time known as the appointor – also Mr Smith.

Legal ownership of the business, beach house and the cars is with the trustee – Smith Pty Ltd.

The sole shareholder and director of Smith Pty Ltd is, well, Mr Smith. He is effectively the trustee and the controller of the assets, even if he is not the trustee in legal name. Beneficial ownership is with the family members, of which he is also a member. To all outsiders they look like a family that conducts its own business and owns a house, a beach house and drives expensive cars, but all the assets are at removes from each other.

All the same, Mr Smith is everywhere (and nowhere) and the courts may consider the structure to be a sham. One idea would be to appoint an independent person to be the appointor or to act as a joint appointor with Mr Smith. This moves the sole control away from him and overcomes the potential “sham argument”.

No asset-protection strategy is foolproof and one would like to think that if there are legitimate reasons to break through a trust arrangement, it can be done. What is certain, however, is that by using structures, it will take longer for the litigant or creditor to break through them and cost them more money to do so. Without them, people are more vulnerable. They provide a kind of “sleep soundly at night” factor for those who work in high-risk fields.

pf@thenational.ae

Article source: http://www.thenational.ae/lifestyle/personal-finance/safeguard-yourself-with-asset-protection

We Recommend…

Leading Trusts and Estates Attorney Joins Philadelphia Office of National Law Firm

PHILADELPHIA – National law firm Chamberlain Hrdlicka announced today the hire of leading trusts and estates attorney David S. Kovsky, who will advise individuals and families on the full spectrum of estate planning law. Joining the Philadelphia office as senior counsel, Kovsky will expand the firm’s growing estate planning practice into the Philadelphia market.

“We are very pleased to welcome David to our Philadelphia office,” said Wayne Risoli, managing shareholder, Chamberlain Hrdlicka. “He brings with him extensive experience in the estate planning space, which will allow us to offer these services in the Philadelphia market, an area where in the past we have traditionally focused only on tax.”

Formerly an associate with Philadelphia-based law firm Cozen O’Connor, Kovsky’s practice focuses on the entire cycle of estate planning. At Chamberlain Hrdlicka, he will counsel high-net-worth clients on complex estate planning matters, including wills, trusts, living wills, powers of attorney, closely held businesses (partnerships, limited liability companies, S-corps), tax-exempt organizations, and estate, gift and generation-skipping transfer tax planning.

Kovsky earned his Master of Laws (Taxation) from Temple University’s James E. Beasley School of Law, where he also earned a Certificate in Estate Planning. He earned his law degree from Tulane University in New Orleans, as well as his undergraduate degree from the University of Michigan. Kovsky currently serves as a member of the Pennsylvania Bar Association, Philadelphia Bar Association (Probate Section) and the Philadelphia Estate Planning Council.

About Chamberlain Hrdlicka
Chamberlain Hrdlicka is a diversified business law firm with offices in Houston, Atlanta, Philadelphia, Denver and San Antonio. The firm represents both public and private companies as well as individuals and family-owned businesses across the nation. In addition to tax planning and tax controversy, the firm offers legal counsel in corporate law, securities and finance, employment law and employee benefits, energy law, estate planning and administration, intellectual property law, international and immigration law, commercial and business litigation, real estate law and construction law. For more information, please visit www.chamberlainlaw.com.

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Article source: http://philly.citybizlist.com/2/2012/4/19/Chamberlain-Hrdlicka-Expands-Estate-Planning-Practice-in-Philadelphia.aspx

After a 25-minute hearing in the Max Rosenn United States Courthouse, U.S. Bankruptcy Judge John J. Thomas ordered that the case filed by the debtor, Saint Catherine Hospital of Pennsylvania LLC, be changed to Chapter 7, which allows for liquidation of a business’ assets, from Chapter 11, which permits reorganization of a business.

“I’m going to waive any further notice and convert this to Chapter 7″ for the good of the community, Thomas said in making his ruling from the bench. “I think it would expedite an eventual reprocessing of the assets.”

Thomas’ decision, in which he also directed that the hospital’s top 20 creditors be notified that the case has been changed to a Chapter 7 bankruptcy, followed the recommendation of William G. Schwab, Lehighton, the bankruptcy trustee who had filed a report Monday saying he did not think the business could be reorganized, partly because it has debt of more than $5.8 million.

Liquidation, the selling of all the business’ assets and distribution of them to creditors, will mean the closing of the 129-year-old hospital, although it eventually could reopen under new management.

Saint Catherine filed its bankruptcy petition April 9, asking the court to allow it to reorganize.

The state Department of Health has revoked the hospital’s license and its approximately 150 employees have been left out of work.

No one opposed changing Saint Catherine’s bankruptcy to liquidation, including the debtor, according to John H. Doran, Wilkes-Barre, the lawyer representing Saint Catherine Hospital of Pennsylvania.

“This company is not going to resurrect itself. We have several hundred creditors,” Doran, the only lawyer present in the courtroom, told Thomas. “There is not a full staff at the hospital.”

Participating in the hearing by telephone, S. John Price Jr., Pottsville, solicitor for the Ringtown Municipal Authority and the boroughs of Ashland and Ringtown, said his chief concern is the health of the people of the region the hospital serves.

“My concern is with the welfare of the citizens. I was born there,” said Price, an Ashland native who does not object to converting the hospital’s case to liquidation. “There are people who are in need of medical care.”

Doran also said the area needs medical care, and he would like to find a buyer for the hospital.

“It’s a very limited market,” Doran said.

Schwab, who also participated in Wednesday’s hearing by telephone, said he is having difficulty finding professionals for the hospital. In his report, he had written that he had contacted four regional hospital groups about buying the hospital, but none were interested.

After the hearing, Doran said he hopes the hospital can reopen but he cannot say when that might occur.

“It’s a very perplexing thing,” Doran said. “Delay … can only work to our detriment.”

The hospital is closed to patient care “for the foreseeable future” and if it reopens, it almost certainly will be under different management, according to Doran.

“I don’t think you will see Saint Catherine running a hospital” in Pennsylvania, he said. “Hopefully, there will be someone out there.”

pbortner@republicanherald.com

Article source: http://standardspeaker.com/news/saint-catherine-bankruptcy-converted-to-liquidation-1.1302239

Our California office enables us to maximize our efforts in the region and handle the specific challenges that stem from local family and business dynamics, including start-up entrepreneurs and same-sex couples

San Francisco, CA (PRWEB) April 18, 2012

Vaksman Law Offices, PC, a national law firm devoted to helping families and businesses reach and maintain their goals, announced today the opening of a California office based in the San Francisco Bay Area.

By combining a unique client process with significant legal and business expertise, Vaksman Law Offices, PC provides personalized and comprehensive solutions in Estate Planning and Business Law. They employ a holistic, counseling-based approach in order to design the right solution that fits a client’s unique needs.

“Our California office enables us to maximize our efforts in the region and handle the specific challenges that stem from local family and business dynamics, including start-up entrepreneurs and same-sex couples, which require an experienced San Francisco Attorney to navigate the particulars,” said Robert B. Vaksman, Founding Partner of Vaksman Law Offices, PC.

Alan D. Khalfin, Named Managing Attorney of Vaksman Law California

A native of the Bay Area, Mr. Khalfin has vast experience in estate planning, asset protection, and start-up law and strategy. He received his JD from Santa Clara University School of Law, attended Cornell Law School’s Institute of International and Comparative Law, and holds a BA from UCLA.

“I am extremely excited to join Vaksman Law Offices because the firm’s philosophy is so perfectly aligned with my own,” said Mr. Khalfin. “As a San Francisco Estate Planning Attorney, my goal is to help clients secure the best quality of life today, the highest standard of care tomorrow and the greatest benefits for loved ones in the future.”

Estate Planning Is For Everybody, Not Just The Rich

No matter the size of your estate, it is critical to have a written plan in place. Otherwise, state law will decide things for you, which could be a financial and emotional catastrophe, causing unnecessary taxes, delays, and no protection from creditors or court judgments.

Free Comprehensive Estate Plan Review

To celebrate the launch of their California practice, Vaksman Law Offices, PC is offering a free, comprehensive review of your assets and/or existing estate plan. They are located at 220 Baldwin Avenue, San Mateo, CA 94402, and can be contacted at (877) 744-4874 and info(at)vaksmanlaw(dot)com.

“For those in need of an experienced San Francisco Trust Attorney, we look forward to meeting you and helping you achieve your objectives,” added Mr. Khalfin.

Bay Area Cities Served

Vaksman Law Offices, PC will serve San Francisco; San Mateo County, including San Mateo, Burlingame, Foster City, Atherton, Belmont, Burlingame, Daly City, Foster City, Half Moon Bay, Hillsborough, Menlo Park, Millbrae, Pacifica, Portola Valley, Redwood City, San Bruno, San Carlos, South San Francisco, and Woodside; Santa Clara County, including San Jose, Campbell, Cupertino, Los Altos, Los Gatos, Milpitas, Mountain View, Palo Alto, Santa Clara, Saratoga, and Sunnyvale; Alameda County; and Marin County.

Comprehensive Solutions For Families And Businesses

Vaksman Law Offices, PC provides a wide range of advanced strategies, including Revocable Living Trusts, Life Insurance Trusts, Asset Protection, Tax Planning, Retirement Planning, Estate Planning for Same-Sex Couples, Charitable Planning, Personal Residence Trusts, Family Limited Partnerships, and Succession Exit Planning.

About Vaksman Law Offices, PC

For nearly a decade, Vaksman Law Offices, PC has addressed the challenges of wealth transfer and preservation through proactive planning, including all aspects of estate planning, sophisticated tax planning, asset protection, and business planning strategies. With practices in California, Nevada and New York, Vaksman Law Offices, PC is a regional law firm with a national client base.

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Article source: http://www.prweb.com/releases/VaksmanLaw/California/prweb9410747.htm