The interest of your heirs can be protected through the use of wills and trusts which when properly drafted can also help reduce taxes and probate fees. As an experienced estate planning attorney for more than ten years, Judd Matsunaga of Elder Law Servicies of California can help with the proper legal drafting of wills and trusts.

Listed below are four important aspects of estate planning that can help to preserve the value of your estate and ensure the efficient administration and disposition of your estate’s assets.

1. A will is the begininng of an estate plan and deals with all matters pertaining to the final distribution of your estate’s assets. A will is a legal document that speaks on your behalf upon your demise. Without a will the courts will decide the manner in which your estate’s assets will be distributed – which may not be in accordance with your wishes.

2. A trust is a legal document that can be designed to address any unique situation that you may have in regard to the distribution of your estate assets. For example, a spendthrift trust can be set up to protect the interests of a beneficiary who is not good at handling money. A trust can be set up for the protection and administration of assets for minor children, a spouse or for any other beneficiary.

3. Your estate’s executor will need to know the location of all of your assets and vital documents. A complete and proper record of your assets and vital documents will eliminate the possibility of assets being lost.

4. It is important to understand that most estates are illiquid, meaning that most of the estate’s assets are not readily convertible into cash. For example, real estate, long term financial investments, business interests, rental properties and such might not be easily and quickly sold for cash.

This means that proper funding arrangements need to be made in advance to avoid the possibility that your estate’s valuable assets would have to be liquidated at fire sale prices in order to pay taxes and other estate settlement expenses. These expenses can easily add up to thousands and even millions of dollars for larger estates.  A qualified estate planning attorney like Judd Matsunaga can help you plan accordingly to avoid such a situation.

By implementing the above estate planning strategies you can ensure that all your affairs are properly organized and depending on the size of your estate, you could potentially save thousands if not millions of dollars. Your heirs will be relieved that you made all the proper arrangements and that all your affairs were left in order. To learn more on how estate planning can benefit you and your heirs call Judd Matsunaga with Elder Law Servicies of California at 1-800 403-6078 for a free consulation.

J. Beardsley

E. Nichols

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Gerald C.

When it comes to estate planning, one of the most common concerns is how to properly manage estate taxes. Judd Matsunaga will help you plan for inheritance and all tax issues related to inheritance. Judd will make sure you have a plan that protects you and your family for years to come. Depending your your needs, we may use a combination of the following estate planning tools to define your estate plan:

• Wills: A simple will may be enough to protect your interests and provide for your family. We will let you know what a will can do for you.
• Trusts: There are a variety of trust options available for individuals and families, including revocable living trusts, irrevocable trusts, special needs trusts for the benefit of any disabled person, trusts for the benefit of children, and trusts for the benefit of pets.
• Financial Power of Attorney: By establishing a power of attorney, you can put your assets, finances, and even health care decisions in the hands of someone you trust.
• Advance Health Care Directive: You may reach a time when you are not in a position to make a decision regarding your own health care. By establishing a health care directive, you can make sure your best wishes are honored.
• Asset Protection: There are a variety of asset protection options beyond traditional wills and trusts. We can help you explore the possibility of incorporation or LLC and LLP formation for estate planning.
• Guardianships and Conservatorships: We help families obtain guardianships and conservatorships for loved ones who are no longer able to care for themselves and their property or make sound legal decisions.
• Durable Power Of Attorney: You may request that we draft a durable power of attorney which is awritten legal document that lets you esignate another person to act on your behalf, even in the event that you become disabled or incapacitated.

Probate

Probate is a legal process for settling an estate in accordance with the will of the deceased. Assets owned and registered in the individual name of the deceased that do not already have a beneficiary—including cash, investments, personal property, and real estate—make up what’s called the “probate estate.” These assets are controlled by the will and “pass through” the probate process in order for ownership to be transferred. All other assets “pass outside” the probate process.

Size of Estate

The manner in which estates are settled varies from state to state, but options also vary according to the estate’s overall value. A large estate generally involves having the state’s probate court validate the will or certify that the deceased died intestate which means ‘without a will’.

Settling a large estate also involves fulfilling other administrative matters, called “probating the estate.” Sometimes smaller estates can be settled through a more informal means of administration.

Judd Matsunaga is devoted to handling his clients’ advanced estate planning needs. If you have questions regarding the planning of your estate, or if you are about to start planning your estate, it is in your best interest to speak with a qualified attorney.

Call Judd Matsunaga, an experienced, estate-planning attorney at Elder Law Services of California today at (800) 403-6078 or send an e-mail to info@ elderlawcalifornia.com , and we will contact you to set up a free, initial consultation.

Because of the increasing costs of skilled nursing care, Judd provides expert legal advice on how to  qualifiy for Medi-Cal by using legal strategies to preserve assets through transfers, gifting and conversion.  Judd Matsunaga prepares all of the necessary legal documents to accomplish qualification and preservation.

Judd Matsunaga provides comprehensive  Medi-Cal Planning and Estate Planning services which provide you the opportunity to state your personal desires for health care and the handling of your financial affairs during your lifetime and to direct to whom your assets will be distributed upon your death. These services include the preparation of revocable living trusts to avoid probate, estate tax avoidance trusts, irrevocable trusts, wills, powers of attorney for financial affairs, medical directives, special needs trusts for disabled children or adults, and all the related documents required to ensure that your wishes and needs and taken care of.

Mr. Matsunaga graduated from UCLA with a Bachelors of Science degree in Economics and then from the University of West Los Angeles School of Law. His career includes employment with Magana, Cathcart & McCarthy, a large Century City plaintiff’s law firm, and with Barth, Green & Kelly, a real estate defense firm.

Currently, Mr. Matsunaga specializes in Elder Law, which includes Medi-Cal planning, Estate Planning, Probate, and is a noted speaker and published writer on the topics of: (1) Estate Planning; and (2) Medi-Cal planning for Long-Term care.

Mr. Matsunaga is also available to speak at Senior Centers, Retirement Homes, Nursing Homes, as well as other civic organizations throughout Los Angeles, Ventura, Orange and San Diego Counties.

In addition to his business pursuits, Mr. Matsunaga is active with several religious organizations, and is an avid golfer and amateur magician.

Judd Matsunaga is also a member of or associated with :

• The National Academy of Elderlaw Attorneys (NAELA)
• Los Angeles County Bar Association (LACBA)
• California Advocates for Nursing Home Reform (CANHR)