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Estate Planning

Estate & Wealth Transfer Planning

            Our planning process has evolved over the years, as we apply the experience gained during thirty years of preparing plans and administering many of those plans upon incapacity or death. But the process still begins the same way it always has, with a meaningful conversation. At Hiskey Law Firm, we focus on understanding your concerns and goals for your family as the essential first step in providing the wise counsel needed to design your plan. Fundamentally, estate and wealth transfer planning involves ensuring the efficient and appropriate transfer of your assets at death and protecting you and your family in the event of diminished capacity; in short, protecting your family’s future. However, wise planning will also reflect the values you hope will influence your family and community, transferring not only your assets, but your experience, and the virtues and values that have shaped you. This approach also equips you with tools to better impart those virtues and values now, not just at your eventual death.

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            After it becomes clear what you wish to accomplish, and after evaluating your financial assets, the focus turns to identifying the appropriate planning tools to utilize for your plan. Recent tax law changes have provided exclusions of $13,990,000 in 2025 (indexed for inflation) against estate taxes, and the ability of a surviving spouse to preserve their spouse’s estate tax exclusion without the necessity of an irrevocable trust. As a result, conventional planning for many couples in the past may no longer be appropriate. However, the issues are still complex when trying to plan for long time horizons, and many families will still have non-tax reasons for plans that create irrevocable trusts at the first spouse’s death, protecting the surviving spouse from those who may inappropriately influence them, and protecting the intended beneficiaries.

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           Even with simpler tax planning options available for many clients, revocable trusts remain critical to avoid the probate which is generally required in California when an individual dies having more than $208,850 of assets in their name alone if those assets are passing to someone other than a surviving spouse.

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           Our process helps ensure that you have a thorough yet flexible estate plan that accurately reflects your objectives, allowing you to not only protect, manage, and distribute your estate properly, but to leave a legacy for succeeding generations and your community.

 

We Offer Estate Planning for Seniors and Estate Planning for Young Families

Estate Planning for Seniors

           In addition to all of the typical concerns that need to be addressed when planning your estate, seniors require additional focus on issues unique to their life stage. Especially as we continue to live longer, there is a greater likelihood that protecting you and your family in the event of diminished capacity will be necessary. In addition, as we age, we become a more likely target for those who may take advantage of us either financially or personally.

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          There are many options that should be examined, but no standard solutions that should automatically be used. Each client needs solutions that take into account their particular family and financial circumstances. For some, it may be prudent to appoint a co-trustee to assist clients with protecting and managing their assets. Others may need to consider professional trustees to adequately protect them. We understand that these can be difficult issues to address, but our wise counsel can provide protection from future problems. Standardized plans frequently fail to address possible future problems, resulting in the need to minimize damage in the future that could have been avoided with more thoughtful planning.

Estate Planning for Young Families

         We understand that preparing an estate plan is not always the most urgent priority for young families. Whether you’ve just purchased your first home or have been blessed with your first child, your main concern is most likely planning for your family’s future, paying your mortgage, and enjoying everyday life—not planning for possible tragedies. Unfortunately, it is impossible to predict when you will need the protection of an estate plan. The reason planning is critical for young families is not because there is a significant risk of death or incapacity. It is because the consequences of those unlikely events occur can be particularly devastating for young families who have not protected themselves.

 

        For young families who still have relatively modest estates, there is a need for thorough planning, but that planning can typically be standardized due to the common circumstances young families need to deal with. To address this need, we have developed two types of standardized plans which you may choose from. These plans not only provide the documents needed for your stage of life, but include the completion of necessary beneficiary designation forms.

       

        Regardless of the provisions in a will or trust, assets with beneficiary designations are controlled by those designations, not the will or trust. Improperly coordinated beneficiary designations are one of the primary problems responsible for estate plans not accomplishing intended objectives, including the unintended distribution of assets to children at age 18.

Firm Hours: 

Monday- 9 am - 5 pm 

Tuesday- 9 am - 5 pm 

Wednesday- 9 am - 5 pm 

Thursday - 9 am - 5 pm 

Friday- Closed 

Saturday- Closed 

Sunday- Closed 

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Our Office

151 North Kraemer Boulevard,

Ste 204, Placentia, CA, 92870

Phone: 714-961-1198

Fax: 714-961-0816

Nothing on this website, or any attachment, is legal advice.  Neither should anything on the website be considered or construed to be legal advice.  The purpose of this website is to provide general information.  Legal matters are unique. Please contact us regarding your specific legal matter or legal question.

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