Family Law Richard E. Young & Associates

Your Advisor on - Family Law | Trust Law | Bankruptcy Law | A Master Lawyer

Tag: lawyer (page 1 of 2)

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!

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.

Why Should You Hire a Bankruptcy Lawyer?

When it comes to filing for bankruptcy, you always want to make sure to choose the right lawyer. When you file for bankruptcy, it can bring you a huge sense of relief, especially when you are under a debt. Once your case is over, you can get back to your everyday life, debt-free. Sometimes, it is a necessary solution to your problem and is a must that you fully understand the process. And we are here to walk you through it. The bankruptcy forms are daunting enough as they are. Read on and find the many ways an attorney can help!

Complete and Schedule Paperwork

When you begin the paperwork you will have to file pages of financial data. The data will cover debts, income, expenses, assets, and financial transactions. When you hire the right attorney, they will know exactly what you have to disclose and how to value your assets.

Accurate and Complete Testimony

When you file for bankruptcy, you are going to need to sign the paperwork and tell the court, under penalty of perjury, that the information you provided is correct to the best of your knowledge. Your attorney can be there with you through that process to ensure your testimony is complete.

Negotiate With Your Creditors

Throughout the Chapter 7 bankruptcy process, your attorney has the ability to negotiate your reaffirmation agreement and can help you to keep your home or car. If you are going through a Chapter 13 bankruptcy, then your attorney can negotiate on payment terms. Not only that, but they can also negotiate on the value of collateral and interest rates in order to offer you an affordable payment plan.

Peace of Mind

When you leave the case in the expert hands of the right attorney, you can experience a stress-free process knowing that everything is on track. An attorney can provide you with the information to proceed through the case and inform you of the status every step of the way.

All in all, choosing an attorney you can count on is a must. That’s where we can help. Here at Family Law Richard E. Young & Associates, we have years of hands-on experience and are here to get you through the confusing legal process of bankruptcy.

What Living Trusts and Wills Cannot Do

Both living trusts and wills allow you to name beneficiaries for your property. Beyond that, they are useful for different purposes; one can help you avoid probate, while the other can name guardians for your children. But do you know what living trusts and wills don’t cover? In this blog, we break down what these legal documents cannot do!

Reduce Estate Taxes

Neither wills nor living trusts can help you reduce estate tax (but most estates will not owe estate tax). If you believe your property might be liable for estate taxes, we recommend meeting with a professional lawyer, where you can discuss more information in detail. There are many different ways you can skip out on estate tax, which includes being eligible for marital deductions, personal estate tax exemption, charitable deduction, and other legal routes, but neither a will nor trust can help you there.

Leave Money to Pets

Pets cannot own property, so you cannot leave property or money to your pets, as it will end up in your residuary estate (which means it will be divided along with your primary estate). Since pets are not legally allowed to own property or money, the best you can do is leave your pet to someone you know, whether that be in your will or living trust. You can also sign up with an organization to have your pet find a new home when you can no longer care for them.

Leave Final Wishes

Although you’re allowed to leave funeral instructions and final wishes in your will (never in a living trust), it’s better to leave them in a separate document. A will is not a good place to express your death and burial preferences for one reason: your will might not be located and read until several weeks after passing away – long after decisions must be made. Instead, you can write a simple letter to your executor and other loved ones to explain the details of your final arrangements.

Conclusion

We mentioned just a few limitations of trusts and wills in this blog, but do you know the full extent of what each legal document can or cannot do for you? For more information, contact the team at Family Law Richard E. Young & Associates. We are a professional, legal practice that can assist you with your trusts and wills. Call us today!

Older posts