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Living Trust Workshop Woodland Hills

Living Trust Workshop Woodland Hills

SIRKIN LAW GROUP, P.C. presents: A Living Trust Workshop in Woodland Hills, California on 3/10/17 at 12:00p-1:30p.

WHAT YOU CAN EXPECT TO LEARN AT OUR LIVING TRUST WORKSHOP IN WOODLAND HILLS?  Living Trust Workshop Woodland Hills

  1.   How to protect your minor children with a living trust?
  2.   Who should you name as guardians for your minor children?   Who is not suited to be a guardian for     your children?
  3.    Differences among Trustees, Guardians and Executors;
  4.   How do you balance taking care of your parents, and your children?
  5.   Setting priorities in caregiving for your parents and for your children;
  6.   Alternatives in Estate Planning for younger families;
  7.   Nursing Home planning and Medi-Cal Planning for your parents.

LIVING TRUST WORKSHOP SPEAKERS – WOODLAND HILLS CA:

Mina Sirkin is a Board Certified Specialist in Estate Planning, Probate and Trust Law in Woodland Hills, California who is dedicated to educating clients at our living trust workshop and seminars.   Evan Sirkin is an experienced Estate Planning Attorney in Woodland Hills with 27 years of experience in elder law helping four generations of families plan their estates.   We are well-versed in helping you set realistic goals in planning estates and in assisting in incapacity planning.   To register for the Free Living Trust Workshop in Woodland Hills, go to http://LivingTrustWorkshop.com.   Call 818.340.4479 for appointments or questions.

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Property Estate Planning Los Angeles

A properly trained Estate Property Planning attorney can create a Small Business Estate Plan for business owners in Los Angeles to protect legally created relationships where an adult is given the legal authority and responsibility to care for another adult’s business assets and property.   Our Los Angeles Estate & Property Planning lawyers are experts in this area, and can assist you with creating the business transition process in Los Angeles County.
Types of Small Business Estate Plans:

General Small Business Estate Plans in Los Angeles County can be three basic types:

1) Small Business Estate Plan for Transfer of Ownership of Shares or Other Interest;

2) Small Business Estate Plan of Transition of Control; and

3) Small Business Estate Plan of Transfer of Assets of the Business.

There are several other types of Small Business Estate Plans which are available, but which require that the small business owner have capacity to contract.

How can you prepare a Small Business Estate Plan in Los Angeles?

Generally, the business owner, business partners, spouse, & children, and a possible professional fiduciary can be involved in planning for transfer of the small business assets and good will.

Business Partners:   Before your partner becomes incapacitated, it is a good time to introduce the concept of Small Business Succession Planning to your partners to give it some time for thoughtful consideration.   These plans sometimes take about a year to complete, so talking about the idea of succession planning should start sooner than later.

Spouses:  If the transfer of ownership or control of the assets involves community property, the consent of the spouse is necessary to accomplish this plan.   If there are prenuptial agreements, or post-nuptial agreements which affect business assets, those documents need to be available for review during our pre-planning session.

Avoiding Conflicts:   Business Succession Estate Planning involves multiple parties.  When you ask us to represent you in business planning, we will only represent the interests of one business owner and his/her spouse.   While we are happy to converse with business partners about implementing the plan, we do not represent multiple business partners.

What happens if a business partner has become incapacitated?  If no power of attorney exists, a conservatorship is created, and the the court supervises the business ran by the conservator.  Any type of succession planning is then done with court supervision and is subject to approval of the court.

Small Business Estate Plans are time consuming and expensive.   We want the most successful out come in estate plans for our clients, so we take our time to do diligent work when you plan your estate with us.

Candidates for business estate plans are usually competent adults who are near retirement age.  If you have a family member who displays signs of Alzheimer’s disease, dementia, parkinson’s, or other diseases that affect their judgment, please let us know in advance.

BUSINESS SUCCESSION ESTATE PLANS v. CONSERVATORSHIPS

Business Successions Estate Plans in Los Angeles are similar to Guardianships.

Business Successions Estate Plans are voluntary processes which you put in place to protect you,

your family and business partners in California.  Just as Guardianships protect minors in California,

business succession estate plans protect retiring business owners.  Our Estate & Property Planning

attorneys can represent you in Estate & Property Planning in Los Angeles.

California Business Succession Process:

Business Succession planning usually starts long before a person is so incapacitated that he or she cannot manage his/her own business affairs.   There are times, however, that we have to start the process after incapacity, with a court order, but that is rare.

You an nominate a partner, or a neutral person who is the caretaker of the business, who is called the fiduciary.  You make the choice many years in advance of retirement, and visit the plan often to insure that it is exactly what you want.

The fiduciary is required to provide accountings to your designated persons, which give details of the business assets, income and expenses, showing exactly how the money was spent. Additionally, you can require that the fiduciary post a bond.

Ca Business Succession can get complicated when there are disputes but can be fairly smooth, when itis uncontested.

WHEN ARE POWER OF ATTORNEY DOCUMENTS INSUFFICIENT?

While a valid power of attorney document can authorize the power of attorney holder to accomplish certain tasks of the business owner, a power of attorney cannot prevent the ill person from contracting, conveying property or marrying. For example, a business owner with Alzheimer’s disease may become subject to fraud or undue influence by unscrupulous persons.

While he or she could have given a valid power of attorney while he or she was well, he or she may be befriended, may marry, and convey his or her property to a new spouse. In that situation, a power of attorney is not sufficient, and  the probate code provides that a conservatorship may be established, and the conservator may ask the court to set aside any business or personal contract entered into by the ill conservatee.

The advantage of the Business Estate Plan is that it can safeguard against fraud or undue influence by a third party against the ill person.   Business Succession disputes can get costly when there is litigation involved.

In California Power of Attorney cannot be used to make a will for someone, or to change his/her will.   It can be used to create or modify a trust, but not a will.

Estate Property Planning Los Angeles

Call our Elder Law experts  for a Free Business Succession Consultation with our Estate & Property Planning Attorney in Los Angeles County at 818-340-4479.  Los Angeles Business Succession, Estate & Property Planning Attorney Los Angeles.

 

 

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Probate Consultation Session in Los Angeles

PROBATE CONSULTATION SESSION LOS ANGELES

Specialist Probate Attorney Consultation

When you need a free probate consultation session regarding probate in Los Angeles to evaluate whether action should be taken to protect your inheritance, you should consider the following circumstances:

1.  You believe there was forgery involved regarding a Will in Probate.  Just because a will has been submitted to the court, does not mean it is authentic or valid.   Sometimes, the circumstances surrounding the death of a loved one give you the sense that he or she may not have been able to sign or understand a will.

2.   You believe someone influenced the decedent to write a will or trust which he or she otherwise would not have signed.    If someone tries to overcome the will of another, there are usually signs of isolation from others, and other facts.

3.   There was any type of fraud involved in an estate.

4.    An executor has not filed an accounting within a year from the start of probate.

5.    Executor or Administrator has not filed an inventory.

6.    The elderly decedent was abused during his or her lifetime.

7.    There are assets which should belong to the estate but which someone else claims or owns.  An 850 action can clear title to an asset owned by the decedent, or by another person.

8.    Decedent was in the middle of a sale, or transaction, and he or she died.

9.    There is sibling rivalry in the family regarding who should own the assets of a parent, or deceased person and a family member needs a free probate consultation in Los Angeles, CA.

10.  There needs to be a conservator appointed for a family member or loved one.

11.  A fiduciary, executor, administrator, trustee or agent under a power of attorney has not met his or her duties or responsibilities.

12.   Assets need to be returned to a person, estate or trust.

Contact Elder Law Counsel, Mina Sirkin, Probate Law Certified Specialist Attorney for a Free Probate Consultation session in Los Angeles.  Call 818.340.4479  Los Angeles Probate Lawyer

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Conservatorship Planning Attorney in Los Angeles

CONSERVATORSHIP

When should you hire a Conservatorship Planning Attorney in Los Angeles?

Clients in Los Angeles often ask us whether they need to hire a conservatorship planning attorney for an elderly or aging parent, or a disabled child.

Below is a short checklist to help you make the decision when there are no valid power of attorney documents in place:

1.   Can your aging or disabled parent properly administer medication to himself or herself?

2.   Can your parent understand the consequence of making a medical decision?

​3.   Can your parent provide food or shelter for himself? Cook safely or buy food.

4.   Is your parent influenced by someone to give away his or her money?

​5.   Are there signs that he or she cannot be safe when left alone at home?

​6.   Is your parent regularly bathing himself or herself?

7.   Does your parent clean clothes or wash his or her clothes?

8.   Are there bills that are unpaid?  This is the number one sign for need for assistance.

9.   Is he or she forgetful of recent events?  While some forgetfulness is normal, repeated unpaid bills, or utilities having been turned off, is a sign that he/she needs help.

10.  Are there people who are trying to take financial advantage of your aging parent? Caregivers, contractors, family, and neighbors are the number one perpetrators of elder financial abuse.

CAN I GET A CONSERVATORSHIP IF THERE IS A POWER OF ATTORNEY IN PLACE?

Yes. Old or invalid Power of attorney documents can be suspended or revoked by the court.   You can appoint a conservator, and ask that the court suspend the agent under a power of attorney for good cause.   An agent under a power of attorney can be forced to account for the assets of the person which they handle.

WHAT TO DO FIRST WHEN MOST OF THE ANSWERS TO THE ABOVE QUESTIONS ARE YES?

1.  Check to see if there are valid Advanced Directives and power of attorney documents in place.  If you question the validity of a power of attorney, call us.

2.   Call Sirkin Law Group at 818.340.4479 and ask for a call assessment regarding your case.

3.   Ask us to give you a Capacity Declaration to be completed by a physician.   If your loved one will not submit to a doctor’s examination, please call let us know.  We have solutions for this.

4.   Gather a list of medications and assets of your loved one.  Be sure to read our article regarding aging parents.

5.   Set an in-person appointment to go over the Conservatorship Procedures in Los Angeles County.

Mina Sirkin, Conservatorship Attorney Los Angeles  at 818.340.4479.   Our attorneys serve the Los Angeles, Glendale, Pasadena, Santa Monica, West Los Angeles, Venice, Marina Del Rey, Woodland Hills, Calabasas, West Hills, Tarzana, Canoga Park, Studio City, Thousand Oaks, Agoura, Chatsworth, Northridge, Canoga Park, Winnetka, Encino, Sherman Oaks, Burbank, North Hollywood, and Westlake Village areas.  Conservatorship Attorney Los Angeles.

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Probate Class for Real Estate Agents

Probate Class for Real Estate Agents

Mina Sirkin, Certified Specialist Attorney in Probate by the State Bar of California has put together a probate class for real estate agents in Los Angeles.  Ms. Sirkin has over 23 years of experience in the Probate and Trust areas and has completed sales of hundreds of  probate and trust properties.

Below is an outline of what you will learn in the Probate Course:

  1.  Understanding the Probate Process structure in Los Angeles.
  2.  Where Real Estate Agents can find Probate leads in Los Angeles County.
  3.  Learn to read a Probate Petition or Conservatorship Petition for the best leads.
  4.  Probate Sales v. Conservatorship sales.
  5.  What you can expect when you sell a property in the Probate Court.
  6.  Overbid Process in Court.
  7.  What type of case requires Court confirmation and a hearing?
  8.  All the forms needed to list and sell a probate piece of property.
  9.  Relationships with Executors, Administrators, and Conservators.
  10.  Relationship building with the Probate Bar.
  11.  Data Management and customer contacts.

The Course is all day and includes refreshments and lunch.   Call 818.340.4479 for the schedule of our Probate course in Los Angeles.

Elder Care Law Offices in Woodland Hills, Los Angeles, Glendale & Pasadena

Email: Info@sirkinlaw.com for registration information for the Probate Training Course for Real Estate Agents in Los Angeles.

See our probate class presentation in Los Angeles.  http://ProbateClass.com

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Elder Law Woodland Hills

Elder Law Woodland Hills

Preventative Elder Law Planning in Woodland Hills

Children of aging parents often consult us regarding Elder law and care Woodland Hills residents.  Caring for your family at different stages of life is the largest part of our Woodland Hills elder law practice.  As Woodland Hills Elder Care and Elder Law attorneys, we often counsel clients in a multi-disciplinary legal areas. Our Woodland Hills practice of elder law includes all of the following areas of law:

Estate Planning (Wills and Trusts): Our Elder Law & Estate Planning practice focus of preparing a plan of action for management of assets during incapacity and for distribution of the assets at death for residents in Woodland Hills.

Preparation of Power of Attorney Documents: Power of attorney documents are created as means to assist in decision by appointing an agent to make decisions for the principal.

Preparation of Advance Heath Care Directives: When it is time for making health care decisions, this document serves as a statement of your authority to allow someone else to make health care decisions for you when you are no longer able to do so yourself.

Trust Administration: After a person dies (of even when he/she is incapacitated), the assets in a trust need to be managed and then distributed upon death. This process is called trust administration.

Probate Administration: When there is no trust, or when a trust is not funded, this court process allows for distribution of assets at death and admission of the will in court.

Conservatorships & Elder Law: Conservatorships are protective proceedings where an adult requests powers from the court to care for another adult.

Medi-Cal Planning and Asset Protection: We assist clients in obtaining Medi-Cal benefits and create strategies for asset protection for our clients to retain their most valued possessions.

Financial Elder Abuse Law: We help recover assets of elderly in probate and civil court where the assets have been taken by another person, or used for a wrongful purpose.

Call Mina Sirkin, Elder Law Attorney, Certified Specialist Attorney in Estate Planning Law at 818.340.44799, Elder Law Woodland Hills.

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Calabasas Probate Attorney

Calabasas Probate Attorney

When choosing a Probate Attorney in Calabasas, look for the following to determine suitability of the attorney for your particular case:

  1. Experience exclusive in the probate area in your community.
  2. Number of probate cases closed.
  3. Number of probate cases litigated.
  4. Media Expert in Probate.
  5. Board Certified Specialist Probate Designation.
  6. Family oriented practice.

The attorneys at Sirkin Law Group have practiced in the probate area since 1992.  We are residents of Calabasas and our Woodland Hills office serves the San Fernando Valley.  As attorneys, we are dedicated to providing Calabasas residents with superb probate services.   Contact Mina Sirkin,  Calabasas Probate Attorney at 818.340.4479.

Calabasas Probate Attorney

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Calabasas Trust Attorney

Calabasas Trust Attorney

Each attorney at Sirkin Law Group has over 23 years of experience serving Calabasas Trust clients.   We are dedicated to helping families prepare their estate plans and administer trusts.  Our Certified Specialist Attorney in Estate Planning, Probate and Trust Law has handled thousands of trust matters since 1992.

Our Estate Planning packages include all of the documents necessary in creating and funding the trusts.   Transfer of trust property into living trusts is the most important action you will take in making sure your trust will be administered properly.

When you plan for your estate, your trustee can step into your shoes in the event of your incapacity or your death and manage the assets of the trust, as if he/she is you.  This can be a very easy transition during times of stress for families.

Why Do Our Calabasas Attorneys Transfer the Real Estate to Your Trust?

Titling assets in the name of your trust, or naming the trust as a beneficiary  insures that the distribution of assets will be according to the terms of your trust.   We provide planning assistance as well as administration help for our clients.    Consultations are easy and free, and can be set up by calling 818.340.4479.  If your are considering preparing a living trust, contact us.  Calabasas Living Trust: See our Calabasas Trust Attorney today!
Calabasas Trust Attorney

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West Hills & Woodland Hills Living Trust Attorneys

West Hills & Woodland Hills Living Trust Attorneys

Woodland Hills Living Trust Lawyers

What is a Living Trust?

A Living Trust is a vital component of an estate plan, and part of estate planning documents prepared for you while you are alive. In order for a Trust to work properly, you must transfer most of your assets to your living trust. Title to some assets cannot be transferred to the trust, such as IRA accounts. While you are alive and well, you are the Trustee of the Trust. Since you are the trustee, you manage the day-to-day operations of the Trust while you are alive and well. Normally, while you are alive and have capacity, the Trust is revocable. This means that you have full control over the assets and that can spend all the money in the Trust, revoke or cancel the Trust, amend or change the terms of the Trust, and change any of the beneficiaries of the Trust. You select one or more successor trustees in your Trust document. The successor trustee is the person or persons who will manage the Trust after you are no longer able to do so.

Why prepare a Trust?

Simply, a Living Trust is intended to be an alternative to probate and conservatorships. In the event of your incapacity or death, the successor Trustee steps in and manages the Trust for you. If properly funded, the selection of the successor trustee is a very helpful estate planning tool in avoiding a conservatorship proceeding. The successor Trustee can give you income and principal for your benefit while you are alive. Normally, the primary successor trustee is your spouse, if you are married. For most unmarried persons, the Successor Trustee can be one of a child, another person, or a bank.

Probate Avoidance and Cost Savings

Assets which are properly transferred to the Trust normally escape Probate. Estate Planning can result in a significant savings to your heirs. Probate Fees in California are Statutory and Extra-Ordinary and can range between two percent and ten percent of your estate.

Tax Planning Opportunity

In case of married persons, the Trust can take advantage of the Marital Deduction and can be set up to save a substantial amount of estate taxes. Each person is allowed to transfer a certain limit during their lifetime, or after their death, tax-free. In 2007 and 2008, the amount that can pass without Federal Estate Tax is $2,000,000. In 2009, this amount is increased to $3,500,000. For 2011 and 2012, the amount is increased to $5,000,000 which is portable by the spouses.  This amount changes to $5,430,000 for 2015.

Portability has requirements, which if not met prevent the survivor from using the decedent’s unused exemption. When one spouse passes away, the Trust is divided into two SubTrusts. One Trust is called the Decedent’s Trust and the other Trust is called the Survivor’s Trust. An election to use the decedent’s unused exemption has to be made. The Decedent’s Trust contains the deceased spouse’s marital share of the assets. The Decedent’s Trust becomes irrevocable on the death of the first spouse. To protect the Decedent Spouse’s wishes, the surviving spouse cannot change this portion of the Trust. However, all income of the Decedent’s Trust will normally be paid out to the surviving spouse. The principal of the Decedent’s trust is available to the surviving spouse if he or she needs it for his or her health, education, support or maintenance. When the surviving spouse passes away, the balance of each SubTrust is paid out to the beneficiaries of that Trust.

The surviving spouse’s share is called the Survivor’s Trust. The Survivor’s SubTrust remains revocable by the surviving spouse. The surviving spouse can spend all the assets in the Survivor’s Trust, can amend or change that SubTrust, can change the beneficiaries, and can revoke or cancel the Trust. The entire income and principal of this SubTrust are paid to the surviving spouse. When the surviving spouse passes away, the remaining balance of the Survivor’s Trust is paid out to the beneficiaries of the Survivor’s Trust.

One benefit of AB Trust planning is that both spouses can make use of the Exemption Equivalent Amount, thus taking advantage of a significant tax savings, and also to insure that the decedent’s wishes are complied with by the surviving spouse..

For most people, the main benefit proper Trust planning is that the estate can avoid Probate. The heirs can benefit by between two and ten percent of the gross estate by proper estate planning. Additionally, an estate plan can eliminate a substantial amount of time taken in Probate Administration.

This articles and our e-course are not intended to replace specific advice of an attorney and is intended to be educational only. We highly recommend that you meed with a qualified attorney for specific advice regarding your estate and for professional preparation of all legal documents.

WEST HILLS AND WOODLAND HILLS CLIENTS: CALL US FOR A FREE LIVING TRUST CONSULTATION at 818-340-4479.

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