Married Client Estate Planning
At the Walnut Creek, California, Law Offices of M. Franklin Parrish, our practice is exclusively dedicated to providing personal estate planning assistance to meet the unique objectives of each client. Every married couple needs to prepare a comprehensive estate plan. Contact us to discuss the estate planning options available to you. Frequently the most difficult client decisions are not tax related, but personal in nature.
With complete and accurate estate planning, we can help clients avoid probate, avoid unnecessary income taxation, estate taxation, avoid problems in the event of incapacity, and achieve asset protection for them personally as well as their beneficiaries. We assist married clients in the preparation of appropriate estate planning documents, including:
- Revocable Living Trust or Restatement Of Trust,
- Irrevocable Trusts,
- Pour-over Will,
- Durable Power of Attorney,
- Advance Health Care Directives,
- Property Status Agreement,
- Assignment of Tangible or Intangible Personal Property,
- Homestead Declaration, and
- Grant Deed for retitling.
California's "community property with right of survivorship" statute allows the half of property belonging to the deceased spouse to be passed along to the surviving spouse without the need for probate. However, there may be negative consequences upon the death of the surviving spouse if estate planning is not done while both Husband and Wife are alive. Discover how this law affects your family's multi-generational estate plan by contacting our firm.
Many individuals confuse estate taxation with estate planning. While the two are related;, they are not the same. With the proper estate and trust planning, you can avoid paying unnecessary federal estate taxes, federal income taxation, and also achieve personal estate planning objectives.
In the United States, married couples in 2006-2008 can shelter up to $4 million from federal estate taxation with proper trust planning. Does your estate plan protect you from unnecessary federal income and estate taxes? We can help you achieve asset protection by constructing an effective estate plan.
Every couple, regardless of the size of the estate, needs to do proper estate planning. Franklin Parrish has been practicing law for over thirty years and is highly regarded in the field of estate planning law. Contact the San Francisco Bay Area Law Offices of M. Franklin Parrish to discuss asset protection, as well as personal and tax planning objectives with a knowledgeable lawyer.