Family Law Richard E. Young & Associates

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Trusts and Estate Planning

There are many misconceptions around what trusts are and who they are designed to benefit. A person doesn’t need to have heaps of money and properties in order to create a trust and begin estate planning. In fact, even though estate planning is for everyone, far too many people neglect to ever do so and ultimately leave their family to pick up the pieces after they’re gone. Continue to read along to learn more about how these processes work, who’s involved, and what the benefits are.

What Does It All Mean?

The concept of a trust is actually quite simple. Trusts are legally binding arrangements in which one party holds property on behalf of another. An estate refers to everything a person owns, including their vehicles, properties, life insurance, personal possessions and any other assets they may have. Therefore estate planning is the proactive process of distributing ones wealth before they pass away or become incapacitated.

Who Does It Involve?

These arrangements are most typically made within families in order to grant another person the authority to manage the estate described in the trust. The person creating the trust is called the settlor or trustor, and the recipient is referred to as the trustee. Lawyers are typically involved in this process as well as to ensure every detail is properly addressed and legally stands.

What Are the Advantages and Disadvantages?

There are far many more advantages to curating a trust and beginning the estate planning process than there are disadvantages. Mainly, it allows many of the legal processes to move more quickly. Additionally, a trust is effective immediately, can offer tax minimization perks, and allows for underage beneficiaries. The noteworthy disadvantages of trusts are the preparation costs and the amount of time it can take to retitle your assets.

Conclusion

Everyone needs a will and trust. Without one, your loved ones are at the mercy of the Government who will run up your estate charges with no concern over taxes. Contact us today to receive a free consultation on your trust and estate planning needs!

Grounds for Nullifying a Prenup

When you sign a prenuptial agreement with your spouse, you are agreeing to the terms written in the document. However, there are certain situations where a prenup can be nullified. If there is evidence in the agreement that can be challenged, you can talk to a lawyer to discuss any legal questions or concerns you have about the contents of the document. Learn more about the grounds you can use to nullify a prenuptial agreement.

Unconscionability

An unconscionable contract is one that is so one-sided that it is unfair to one party and therefore unenforceable under law. It is a type of contract that leaves one party with no real, meaningful choice, usually due to major differences in bargaining power between the parties. If a prenuptial agreement is considered unconscionable in court, then the judge can void it.

Failure to Disclose

Both parties need to disclose any information regarding wealth and assets. The reason behind this disclosure is to decide on the amount of alimony or property division in the event of a divorce. If your partner hides any personal assets or valuable interests, then there’s reasonable grounds to challenge the prenup. You can state you were unaware of extra funds and other properties before signing.

Coercion

Boyd Law states “the courts will throw out a prenuptial agreement if a spouse can prove that someone coerced him or her into signing the document. Coercion can take the form of blackmail, threats, or simply undue pressure.” An example of this can be if your partner had you sign the day before or on the wedding and you didn’t have enough time to look at it thoroughly.

Conclusion

The lawyers at Family Law Richard E. Young & Associates have many years of practice handling legal cases, including prenuptial agreements. If you or a loved one needs to speak with an attorney, contact our family law firm to get the legal assistance you need. You can also visit our website here for more information.

What You Should Know About A Will

Planning for the future by drafting up your will can be scary, but important! If you are starting to think about this aspect of your future and want to learn more about a will, be sure to read this month’s blog post!

Separate

When it comes to creating your will, you’ll want to create one separate from your spouse. While you are married, it’s important to keep your wills separate. Naturally you are going to have different wishes and items that belong to you alone, so it’s only natural to create a will specific to you. It is also likely that your deaths will be separate. It’s common that you and your spouse will have a will that looks similar, but ultimately slightly different. 

Close Family

Once you have your will crafted, you will want to pick an executor. Normally it’s a family member who you are close with and who you trust and can rely on. Should you find this task a bit daunting or you believe your will is more complicated than most are, it’s important you make sure your attorney is the executor. There is nothing wrong with admitting it’s not good for a family member to have this job, so be sure to make the right choice! Your attorney will also be able to help you make this choice and offer their opinion. 

Letter of Instruction

Beyond your will, you will need to create a letter of instruction. These letters are less official and binding than a will, however if your family receives the letter they should be compelled to follow it. A letter of instruction can detail the aspects of your funeral and affairs related to such. You can also include details of each item you are leaving to people. You can let them know what you hope they’ll do with it. While they aren’t bind like a will, your family may find guidance in having the letter. 

Accessibility

The overall point of a will is to help your family sort all your belongings after you’ve passed. Without a will everything must go through probate and the state, which is time consuming and stressful for family members who believe something is theirs. If you create a will, and then nobody is able to find it, your family will have to go through the same ordeal as if you never had it. Ensuring that your will is easily accessible and someone who you trust knows where it’s at is essential.  

Conclusion

Nobody wants to think about their death and what comes after, however it is an essential part of your future plans. Ensuring you have a will that is easily accessible is in everybody’s best interested. For any legal questions you may have, be sure to reach out to Family Law Richard E. Young & Associates!

What is Family Law

Family Law

Family law covers a variety of issues involving family relationships. This legal practice focuses on everything from adoptions, divorce, child custody and many more areas. As attorney’s we represent our client’s in family court or any related negotiations. We are there through the entire process, from drafting legal documents to the actual court hearings.

Family Law Services that We Offer

We offer exclusive work in all aspects of family law including divorce, partner divorce, child and spousal support, custody and visitation, move-aways, and legal seperations. We also specialize in post-nuptial agreements, pre-nuptial agreements, co-habitation agreements, and domestic violence actions. With several years of experience, Mr. Young has handled various difficult divorces involving parent alienation and division of property disputes.

Why Seek the Help of an Attorney?

Relationships can be tough and emotional, especially when multiple parties are involved. If you have never dealt with the law and haven’t had any other family matters that required legal attention, truth is you are probably not equipped to handle a legal situation on your own. An experienced lawyer like Richard E. Young can provide you with the guidance and support that you need to win this battle. A lawyer will give you legal advice, provide you with the necessary documentation and make the process less stressful and easier to understand.

If you or someone you know is searching for a reliable attorney in Orange County, CA to help with family law matters, trust in Family Law Richard E. Young & Associates to provide you with the legal help that you need. With years of experience working in numerous family law cases, you can be reassured that we will work hard to deliver the results that you seek.

What to Look For in a Divorce Lawyer

There is nothing exciting or fun about going through divorce proceedings, but that doesn’t change the fact that they are still necessary. What is most important during such a trying time in a person’s life is guaranteeing that they are represented by the best possible divorce or family lawyer who will look after their best interests. This blog will be devoted to providing you with all of the important aspects of choosing the right lawyer and explain why they can make all the difference.

Decide on Your Divorce Process:

When deciding which lawyer is best when it comes to helping you file for divorce, it is first important to understand what kind of divorce process you are looking for. It is a common misconception that divorce is simply signing a paper and deciding who gets what, but that couldn’t be farther from the truth. There are three main types of divorce proceedings, mediation, litigation and collaborative divorce; each holds its own merit when it comes to the benefits it provides and needs to be carefully considered. Something all three of these types of divorce hold in common, however, is that they are best carried out with a lawyer representing you.

Do Your Research:

After you decide on what kind of divorce proceedings you are looking for, the next most important thing is to start doing your research on any divorce and family lawyers you are considering. From searching them online to looking up their reviews and even asking friends who may have used them, it is vital to get a clear picture of who you are bringing in and if they are indeed compatible with you. One of the most important aspects of an effective lawyer/client relationship is the trust any client should have in the person representing them.

Look at Multiple Candidates & Trust Your Gut:

Once you have done your research, it remains important to meet with all of the candidates that you are considering before you sign on the dotted line. Going in for a simple consultation is often enough to get the information you are looking for and help you pick the best one for you. Once you meet with them to discuss your divorce, the choice will most likely become very clear as long as you trust what you’re feeling about them.

Conclusion:

Overall, there are a lot of specific aspects to finding the right divorce and family lawyer that will need to be considered. As long as you go through these steps and maintain a trust in your own judgement, there is no doubt that you will find the proper lawyer for you. The professionals at Family Law Richard E. Young & Associates believe strongly in these steps and are extremely confident that they will lead you to our talented team, because to us there is nothing more important than representing you to the best of our ability.

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