Protect Your Legacy With Wills and Trusts
For many people, planning for the end of life is an unpleasant process that they put off as long as possible. This is unfortunate, because a lack of planning can cause enormous financial difficulties for you and your loved ones down the road.
CC LawGroup, A Professional Corporation assists individuals and families in controlling their personal destinies and the destinies of their assets by establishing wills, trusts, health care directives and other planning documents. We can help you avoid the time-consuming and resource-draining probate process while preserving your dignity and your financial legacy.
For more information, contact our law firm in Newark, California, at 510-402-1579.
Effective Asset Distribution – Newark Wills and Trusts Attorney
A solid estate plan can help prevent the results of your life’s work from disappearing due to your incapacity or death.
Cynthia Cho, our skilled Newark wills and trusts attorney, can help you draft a will or establish a trust to preserve assets for the benefit of your loved ones.
Drafting a Will
By drafting a will, you have control of how your assets are distributed, to whom and in what manner. You can prevent the government from determining your beneficiaries. Through a properly drafted will, you can encourage your children to further education, monies at certain age points as opposed to merely being entitled to receive all their inheritance if they are of a legal age.
Establishing a Trust
Through a trust, you can establish a protected fund to pay for – among other things – the education of a minor child, the support of a spouse or nursing care for an elderly or disabled loved one. You can even give money to a charity.
Our law firm can assist you in establishing revocable trusts, irrevocable trusts, insurance trusts and special needs or family trusts. Each trust has advantages and disadvantages:
- Revocable trusts. As their name indicates, revocable trusts can be amended if you change your mind later about their terms or conditions. The disadvantage is that they are considered personal assets and offer no protection from creditors if you are sued. They can also be taxed at the time of your death.
- Irrevocable trusts. These trusts can’t be changed once invoked – a substantial disadvantage. The good news is they are protected from creditors and aren’t taxable as part of your estate. Irrevocable life insurance trusts are a common type of irrevocable trust.
- Insurance trusts. You can create a trust just for your insurance policy for planning purposes including its exclusion from your estate for estate tax purposes. As the beneficiaries immediately receive upon your demise, you may wish to plan in a manner that a young beneficiary would not immediately receive all of the proceeds at legal age, or to specially plan for their needs throughout their lives.
- Family trusts/special-needs trusts. This category of trust is for the benefit of others. You can reserve money for a relative’s college education or for the health care of a mentally disabled person, for example. Such trusts can be designed as either revocable or irrevocable.
Whether you are a young parent or an older person planning for your retirement years, our lawyers can tailor your will or trusts to meet your individual situation.
Ask About Our Full-Service Estate Planning Packages – 510-402-1579
At CC LawGroup, A Professional Corporation, we can bundle our various drafting services into a single cost-effective package. You can walk out of our door with a completed will, trust, powers of attorney, health care directives, living wills and other planning documents.
Not only are these bundles convenient, but they enable you to comprehensively plan for your future in one step and keep your documents in one place for future reference.
Our office is located right off 880, off Mowry Avenue, in front of NewPark Mall, near the Dumbarton Bridge, has free parking and is handicap-accessible.