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| 11271 Ventura Blvd. |
| Suite 473 |
| Studio City, CA 91604 |
| Phone: 877-479-7970 |
| Fax: 888-509-8864 |
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| Warner Center Towers |
| Phone: 818-581-2175 |
| Fax: 888-509-8864 |
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| Phone: 310-439-8413 |
| Fax: 888-509-8864 |
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| Fashion Island |
| Phone: 949-209-9736 |
| Fax: 888-509-8864 |
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Estate Planning
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Estate planning allows an individual to plan for his or her lifetime objectives and to provide direction about the disposition of his or her assets after death. Estate planning can include wills and trusts as well as powers of attorney and healthcare directives.
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Estate planning can be a greater challenge when businesses get involved. Estate planning is impacted by state and federal law, and each estate must be handled in a sensitive manner.
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An Overview of Estate Planning
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Estate planning allows an individual to plan for his or her lifetime objectives, effectuate asset protection, and to provide direction about the disposition of their assets upon death. Estate planning can include many tools, for example, wills, trusts, family limited partnerships (“FLPs”), limited liability companies (“LLCs”), powers of attorney, healthcare directives, etc.
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[Read More]
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Asset Protection
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One of the important functions of estate planning is to protect income and assets from creditors’ claims and tax collection. In concert with federal and state laws that exempt certain types of property from creditors’ claims, taxation, or both, there are numerous estate planning tools that may be used to shield assets from future creditors and reduce estate or income taxation.
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[Read More]
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Elderly Estate Planning Needs
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With the advancement of the country’s average age, baby-boomers are now dealing with health and legal concerns that they did not expect. Elder law has been established to deal with the legal, financial, and health needs of senior citizens. Elder law does not merely consist of estate planning, but also involves the preparation for long-term healthcare needs, applying for government programs, addressing financial fraud, combating physical abuse, and establishing guardianships and conservatorships.
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[Read More]
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Wills and Trusts
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A will is a basic estate planning document that explains how a person wants their money or property disposed of upon their death. Trusts may also be used in conjunction with a will, or as an independent estate planning tool.
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[Read More]
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Powers of Attorney
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There are many different types of powers of attorney, for various situations, so powers of attorney are extremely useful estate planning tools.
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[Read More]
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If you are ready to plan your estate, contact us at 877-479-7970, or e-mail us at info@law-thomas.com, to arrange for a confidential complimentary consultation.
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Q: What is a will?
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A: A will is a written legal document with instructions for distributing an individual's assets after his or her death. A will must be formally executed as required by state law to be legally valid and enforceable.
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Q: How can a person change his or her will?
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A: A will is typically valid and effective until it is revoked, destroyed, or invalidated by writing a new will. Alterations to an existing will, such as crossing out language or adding a new provision, do not usually meet the legal requirements for executing a valid will and do not affect the terms of an existing will; however, changes or additions to an existing will can be made by codicil. A codicil is a document executed in compliance with applicable state law that modifies an existing will or codicil.
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 How Much Estate Tax Will You Pay?
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This estate tax calculator adds up many different types of assets to get an estimated estate tax figure for your current estate.
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Social Security Administration Retirement Planner
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The federal Social Security Administration provides retirement planning and disability benefit information from this Web site.
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