protecting youre assets

Once we assess the type of assets you own through our Family Wealth Worksheet questionnaire, we will better understand your specific risk factors and the level of protection you desire.

 

We assist our clients in determining the appropriate level of asset protection planning for their particular circumstances.

 

We consider:

  • Insurance
  • Prenuptial Agreements
  • Asset Segregation
  • Choice of Jurisdiction
  • Gifting
  • LLCs, partnerships, corporations, and asset protection trusts

If you have a business, it is necessary to review how it is set up.  Our Small Business Legal Audit is a key first step.

 

Customized combinations are layered depending on your needs.  There are many different strategies to accomplish the protection of your assets while you are alive and after you are gone.

 

Contact us at (650) 761-0992 for a Family Wealth Planning Session™  or book an appointment online now to find out which strategies may be right for you.


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Are You Clear About How Your Parents Estate Plan Will Impact You?

Do your parents have an estate plan? Is it up to date?

No matter how rich or poor you or your parents are, especially in the wake of the COVID-19 pandemic, you need to be asking these and several other questions. When your parents become incapacitated or die, their affairs will become your responsibility, and it will be impossible to ask them to clarify anything. So, if you do not know whether or not they have estate planning in place that will help you best support them, read on.

 

The Best-Case Scenario

In a best-case scenario, your parents have an updated estate plan, and they’ve walked you through it. They have provided an inventory of their assets that’s easy for you to find listing out everything they own, how it’s titled, and who it should go to and how. Ideally, it also includes directions on how to handle their non-monetary assets, and an audio recording or written stories that pass on their values, insights and experience. On top of all that, it’s best if they’ve introduced you to the lawyer who set it all up, so you know who to turn to when the time comes.

 

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Ensure the Security of Your Senior Parents' Identity and Financial Assets

Today, we live in an uber-connected world, where nearly every type of financial transaction—shopping, banking, investment management—can be made online using a computer or mobile device.

In light of this, it’s critically important to have the appropriate safeguards in place to reduce the risk of fraud and identity theft, especially for your senior parents. Because your parents are probably not as savvy about digital technology and may be losing some of their powers of discernment as they age, it’s quite likely up to you to help them protect themselves—and ultimately your inheritance.

 

Along with traditional estate planning strategies to ensure your parents’ planning is handled in the event of their incapacity or death, you should take the following four precautions to ensure the safety of their identity and finances while they’re still alive and well.

 

1) Secure their computer: Your first step should be to make sure all computers they use are protected by robust security software bundled with anti-virus, anti-spam, and spyware detection features. Always go with the latest version of software, and make sure it’s configured to provide automatic updates, including security patches.

 

2) Use strong passwords and PINs: Create strong passwords and PINs that contain numbers, letters, and symbols, and change them regularly (once every six months). Don’t use the same password for multiple accounts—each account should have its own unique password. Never share passwords, don’t store them on a computer, and keep them in a secure location.

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4 Essential Strategies For Protecting Your Family's Assets

You might think that only the super wealthy need to worry about asset protection planning. But the truth is that if you don’t have millions, you may be at even greater risk. For instance, if you are a multi-millionaire, a $50,000 judgment against you might not be that big of a deal.  But it could be devastating for a family with a modest income, savings, and home.

Furthermore, asset protection planning isn’t something you can put off until something happens. Once you are under threat of a lawsuit, it’s likely too late to protect your assets. Like all types of planning, to be effective, you must have your asset protection strategies in place well before something happens. And your asset protection plan isn’t a one-and-done deal: it must be regularly updated to accommodate changes to your assets, family dynamics, and the law.

 

While you should meet with us, your Personal Family Lawyer®, to determine the asset protection strategies that are best suited for your particular asset profile and family situation, here are four essential strategies to consider for safeguarding your family’s most valuable assets. 

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How Estate Planning Can Reduce The High Cost Of Dying—Part 1

Despite the fact that it happens to every single one of us and is as every bit as natural as birth, very few among us are properly prepared for death—whether our own death or the death of a loved one.

Yet the pandemic might be changing this.

 

According to Census figures, the pandemic caused the U.S. death rate to spike by nearly 20% between 2019 and 2020, the largest increase in American mortality in 100 years. More than two years and 1 million deaths later, it's more clear than ever that death is not only ever-present, but a central and inevitable part of all our lives.

 

Yet, in what may be one of its few positive outcomes, some in the end-of-life industry believe that the pandemic’s massive loss of life has created an opportunity to transform the way we face death, grief, and all of the other issues that arise when we lose someone we love dearly. In fact, this sentiment is the mission of the new startup Empathy, an AI-based platform designed to help families navigate the logistical and emotional challenges following the death of a loved one.

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Protect Your Children's Inheritance With A Lifetime Asset Protection Trust

As a parent, you’re likely hoping to leave your children an inheritance. In fact, doing so maybe one of the primary factors motivating your life’s work. But without taking the proper precautions, the wealth you pass on is at serious risk of being accidentally lost or squandered due to common life events, such as divorce, serious debt, devastating illness, and unfortunate accidents.

In some cases, a sudden inheritance windfall can even wind up doing your kids more harm than good.

 

Creating a will or a revocable living trust offers some protection for your kid’s inheritance, but in most cases, you’ll be guided to distribute assets through your will or trust to your children at specific ages and stages, such as one-third at age 25, half the balance at 30, and the rest at 35.

 

If you’ve created an estate plan, check to see if this is how your will or trust leaves assets to your children. If so, you may not have been told about another option that can give your children access, control, and airtight asset protection for whatever assets they inherit from you.

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