As the founding shareholders of Modern Wealth Law, John and Anh continue to work closely with residents and entrepreneur throughout Laguna Niguel and Orange County. In order to the majority of efficiently design an estate prepare for you, we put in the time to discover your household, profession, services, financial outlook, and your estate planning goals, to develop a tailored estate plan that fulfills your needs.

Our estate plans consist of the following documents: There are 4 main reasons why you require an estate strategy: 1) Preventing probate; 2) designating recipients of your estate; 3) ensuring your minor children are made sure; and 4) avoiding estate tax. Among the primary reasons to have more than a fundamental will is so that you can prevent the probate process.

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The majority of people wish to prevent probate due to the fact that it is 1) lengthy, 2) expensive, and 3) very public. John Wong and Anh Tran are highly skilled probate legal representatives serving Laguna Niguel and can help you and your family if a member of the family has passed away "intestate" (having not made a Will or Living Trust).

As a California Bar Certified Estate Preparation & Probate attorney, John Wong can deal with all of the complexities of probate law and lawsuits in between member of the family and lenders. Besides preventing the expense of probate, an estate plan enables you to pick the beneficiaries of your estate. Without a well drafted estate strategy, the probate court's distribution of your assets will likely not adhere to your wishes.

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Oftentimes this leads to argument amongst your recipients and leads to Trust and Probate Lawsuits. For the majority of moms and dads with kids, the primary worry about estate planning is what will happen to your children if both moms and dads are deceased. Do you desire your children to remain in Laguna Niguel? Will the guardians likewise live locally? Without guidance from you, the court will be left to choose who, where and how your kids will be taken care of.

An appropriately prepared estate strategy can help you and your kids from paying court fees for the next several years. The federal government will tax your properties after your death if your assets are above certain thresholds. These limits vary from year to year. Depending upon the value of your assets at your death, this may or may not be an issue.

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Although there is no specific California or Laguna Niguel estate tax on your estate, a properly prepared estate strategy can assist your enjoyed ones avoid income taxes or capital gains from the sale of properties after your death. If your beneficiaries live in Laguna Niguel, or other parts of California, they will pay some of the greatest taxes in the nation without proper preparation.

If you reside in Laguna Niguel, you understand that you will not discover a condominium for less than $400,000 let alone a single household house. Many times citizens estate planning interview checklist believe that their possessions are less than $150,000 due to the fact that they do not have $150,000 of in their Laguna Niguel residential or commercial property. The Court of probate doesn't care.

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If you are in a highly litigious industry, whether you are a doctor or a small company owner, you have probably heard the stories about people being sued and losing all of their properties. While safeguarding your assets has its constraints, there are numerous lorries readily available to safeguard your assets, or at a minimum, make it harder for lenders to take your properties.

There are high charges for certain kinds of transactions, called a deceptive conveyance, which should be explored before thinking about each of these vehicles. If you or family member reside in Laguna Niguel, and you would like to find out more about our estate preparation services, consisting of living trusts, wills, probate administration and trust litigation, call us at or email us by calling John Wong at Modern Wealth Law.

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Maintain your properties. With the rising uncertainty in today's economy, it is a growing number of important for people to use the advantages of an estate preparation attorney. Estate planning is not simply for the rich, in reality, those with a minimal quantity of assets frequently times benefit more from an estate strategy in regards to conservation of their properties.

Our Orange County attorneys can help you with Trusts and Wills and all aspects of your estate planning. Our techniques incorporate knowledge of tax law, wills and trusts, business law, and business-- all basics for estate planning in California. We will establish a solid estate plan that will not just attain our customer's objectives in regard to defense and transfer of their possessions, but will also hold up against the test of time.