No two individual and family situations are alike. The specific strategy of any individual’s estate planning will therefore depend to a large degree upon the unique needs and circumstances of each family situation and to some degree upon the specific provisions of law. The individual’s will and any other estate-planning documents (such as a trust) should be reviewed with an eye toward accomplishing not only the individual’s traditional estate planning objectives, but their inter vivos asset management and inter vivos estate and financial planning objectives as well. Appropriate changes should be made to these instruments. Talk to a Sacramento estate planning attorney from the Thomas Hogan Law Office to know your estate planning options.
One of the most common methods of managing property during the later years with a view to continuing support of the survivors once the owner (trustor or settlor) has died is to establish a trust. The trustor retains control over the property during his or her lifetime, but on the death of the trustor the trust property is distributed to the designated beneficiaries without being probated. Consideration should be given by the individual to the immediate transfer of assets to family members or to others outright, in trust, or with a retained interest and the assignment of income where permissible, in order to achieve the various individual and family objectives. Consideration should also be given by the individual to the placement of assets into various legal forms designed to transfer the interest to family members or to others only upon the eventual death of the individual in order to achieve the various individual and family objectives.
The estate-planning instruments and the assets of the individual’s spouse, parents, and other family members should be reviewed. Despite expectations, the individual’s spouse and others may predecease the individual. Without appropriate planning, their deaths could result in assets being transferred or re-transferred to the individual notwithstanding the individual’s personal objectives to the contrary. If, however, the spouse or family desires to make such assets available to the individual, then consideration should be given to an alternate form of transfer and ownership such as for example the use of a trust. Moreover, if the individual has been designated as executor or trustee of any such estate- planning instruments, another person should be designated in his stead, if the individual’s deteriorating mental or physical condition will preclude his capacity to serve. The Sacramento estate planning attorneys of the Thomas Hogan Law Office can advise you on what factors you need to consider for estate planning and the right estate planning option.
Although two-thirds of all Americans die without having made a will, drawing up wills is a big business in the modern world. There is actually no standard legal form on which it must be drawn up and no universally required procedure for making a will but there are certain requirements for a will to be legally valid. Certain procedural matters pertaining to the legality of a will are usually resolved fairly easily. If a person names an executor of the estate, that executor serves under the jurisdiction of a local probate court. However, if no executor is named by the testator or if a person dies intestate (no valid will having been found), the court appoints an administrator to handle the distribution of the decedent’s property. Probate courts also become involved in disputations about whether a will is valid or which of several wills take precedence (usually the most recent). If no legal heirs can be found, the estate escheats, or passes to the state in which it is probated. Speak to a Sacramento estate planning attorneys to know which estate planning strategy is best suited for you.
Probate is the legal process by which your assets pass on to your heirs after your death. The courts play an important role in the probate process. Your estate has to go through probate even if you leave behind a valid will. If you have left behind a valid will, the probate court will verify the authenticity of your will. Before your assets are distributed according to your will, your outstanding debts and taxes will be paid from your estate. The remaining estate will be distributed amongst your heirs according to your will. If you die intestate i.e. without a valid will, your state law will determine how your estate is distributed. There are ways and means of legally avoiding a probate and ensuring that your assets pass on to your heirs without having to go through probate. Contact the Thomas Hogan Law Office to know more.
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I was in a difficult situation and needed a reputable and trustworthy lawyer to represent me in court against a government agency. I am glad I made an appointment to meet Tom Hogan in his office. The entire office staff is very courteous and professional. Tom Hogan is very likeable, he has a good sense of humor, and my anxiety went away after talking to him for a few minutes. He listened intently on what I had to say and gathered information by asking me several questions pertaining to my case. He has great attention to details. I was able to understand better my predicament after he explained the situation I am in so I decided on day 1 that he is the lawyer I am looking for. He showed up on all my court dates and stood for me against seemingly insurmountable odds. For those who are summoned to appear in court by the government, I guess you can relate… you are in between a hard place and a rock. His arguments turned around the case in my favor. The last court appearance went like a blur and I was still in disbelief as we are walking out of the court house. I asked him, what is going on? He responded ” We won. They are not going to bother you anymore.”Joe Stockton
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When I decided to get married he established my pre-nup. Since I had no idea how or what to put into it he was able to advise me on thing I would have never thought about. then 8 years later I needed a legal separation. Since the pre-nup was very detailed it made the legal separation quick and easy. Tom is very knowledgeable and is very understanding. I appreciate that he is tough when he needs to be but at the same time sensitive to the situation. He won’t just tell you what you want to hear but is honest and tell you how the law looks at things. I recommend Tom to anyone that needs a lawyer!Jeri E. Modesto
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If you need an attorney with a keen understanding of financial matters, look no further than Tom Hogan. Mr. Hogan deserves the gold star for his accomplishments as an attorney and CPA. I never expected to ever find an attorney as competent, caring and driven as Mr. Hogan. As soon as Tom took on my case, he was determined to help me. He immediately plowed through the reams of documents pertaining to my case, financial and legal, and honed in on the critical pieces.Roberta C. Modesto
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