The Law Office of Michael A. Alfred has provided sophisticated and simple estate planning to clients throughout San Diego and the surrounding communities. We do not just provide legal solutions, we engage our clients and their families in a consultative manner often helping multiple generations develop a true family legacy plan.
Estate Planning
Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death.
Trust and Wills
A revocable living trust a simply a different way to hold title to your assets. Assets are titled in the name of the trust rather than in your name. It is called a living trust because the transfer of assets to the trust occurs during your lifetime. It is revocable because it can be eliminated or changed at any time by the trustee. A trustee (most often you) is appointed to manage the property.
Wills are perhaps the most widely known component of an estate plan. In essence, a will is a letter to the prob ate judge. It identifies who is in charge of the estate of a deceased person and how the deceased person wants his or her assets distributed.
Our basic living trust package includes:
- Revocable Trust
- Pour-over Wills
- Durable Powers of Attorney for Property
- Powers of Attorney for Health Care
- Deed to Transfer Real Estate to Trust
- Recording of One Real Estate Deed
- Assignment of Personal Property to Trust
- Form Letters to Transfer "Titled" Assets to Trust
- Estate Planning Portfolio Binder
- Necessary Consultations and Attorney Letters
- Notarization of All Documents (In office only)
Advanced estate planning, guardianship work, probate administration and charitable planning packages are also available. Please contact us today to schedule an appointment.
"A Purposeful Life" Video Legacy
Our firm is now offering an exclusive new service for clients who want to add a personal touch to their living trust. A Purposeful Life Video Legacy gives individuals the opportunity to give meaning to the assets distributed according to their estate plan at their death. Guided by a professional videographer and trained interviewer, the Video Legacy allows you to explain to your loved ones, on video, the reasons behind your end-of-life decisions and distributions. You will also have the invaluable opportunity to record personalized messages for each of your loved ones and reflect upon your values, spirituality, charitable efforts, and the fruits of your labor. Your resulting video gift will create a lasting memory of you for your loved ones to treasure.
Probate
We can efficiently handle all probate and inheritance proceedings, and also assist with distribution of property under a living trust once all trust owners have passed away. We can also help you with all problems with property that will pass to an owner or beneficiary without a trust or will, such as pension plans, life insurance, and property owned in joint tenancy. Fees for probate are paid from the estate, and we charge reasonable rates for all other services.
Asset Protection
Asset protection planning involves figuring out and applying a lawful series of techniques that protect your assets from claims of future creditors. The techniques are designed to deter potential creditors from going after you, and frustrate them if they do, generally making it difficult or impossible for future creditors to grab hold of your assets or collect judgments against you.
In cases where significant sums are involved, asset protection planning often includes setting up a series of trust, partnerships and/or off-shore entities to hold legal title to your assets. A future creditor who recognizes how difficult it would be to collect on any judgement it may win, might decide it makes little sense to pursue a claim, or be willing to settle for pennies on the dollar.
There is a very sharp dividing line between "legal" asset protection planning on the other hand, and actions to defraud creditors, which are criminal, on the other. For that reason it is essential to have an attorney guide you through the process.