California Probate Estate, Trust & Tax Law
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Estate Planning
Trust & Wills
Comprehensive planning to preserve your wealth.
CUSTOMIZED
ESTATE PLANS
A “comprehensive” Estate Plan is one that personalizes every aspect of planning for the disposition of “your” assets, “your” desires, “your” family situation and “your” needs.
At Moravec, Varga & Mooney we think that a “comprehensive” estate plan must include such things as:
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A review of the character of your property (community property or separate property) and existing property agreements (if any);
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Discussions about how you wish to structure your estate plan and dispose of your property;
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Analysis of the tax impact of your proposed estate plan;
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Advice on how to minimize the impact of taxes;
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Recommendations for alternative estate planning techniques; and
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The preparation of the documents necessary to carry out your chosen estate plan.
Moravec, Varga & Mooney has over 30 years of experience in advising clients and drafting comprehensive estate planning documents. Our knowledge of the tax code and its implications on your estate is invaluable when it comes to drafting an estate plan that maximizes the preservation of your wealth for generations to come.
At a minimum, a comprehensive estate plan consists of a:
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Will
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Revocable Living Trust
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Durable Powers of Attorney for Assets
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Advance Health Care Directives
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Nomination of Guardians
ASSET
PROTECTION
“Asset Protection” is a means by which individuals protect their assets from third-party creditors. However, both the Uniform Fraudulent Transfer Act, adopted by a majority of States, and the Federal Bankruptcy laws, grant creditors certain rights against debtors who seek to transfer assets in order to avoid a valid debt. Thus, any person who thinks that they can protect their assets by some 11th hour transfer is typically mistaken.
While you may not be able to completely avoid creditors, through careful planning you can order your affairs in such a way as to limit your liability. Moravec, Varga & Mooney has over 30 years of experience in helping their clients preserve their wealth through the use of legally recognized planning techniques and offers our clients a comprehensive analysis of options available to them, which include the following:
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Insurance
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“Structural” Asset Protection
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Gifts and Other Transfers
CORPORATE
BUY SELL AGREEMENTS
Frequently family wealth is held through a closely held business, whether it is a General Partnership, Limited Partnership, Limited Liability Company, or Corporation. Part of the Estate Planning process often involves succession planning for the family business interest. Since each client’s situation is unique, navigating the family dynamics of succession requires careful consideration of the rules relating to the management of closely held legal entities and the client’s goals. With over 30 years of business experience, Moravec, Varga & Mooney has been able to successfully structure succession plans to meet each of our client’s individual goals.
Visit FAQs for more information.
IRREVOCABLE TRUSTS
(GRATS/CRUTS/FLP)
Irrevocable Trusts operate to remove assets from your estate so that upon your death you have a reduced taxable estate. For most clients the centerpiece of their Estate Plan is a single “revocable” trust that contains all the provisions needed to address the management and control of their assets, both while they are alive and after death. However, sometimes a client with significant assets will need more estate tax planning that will involve irrevocable trusts. Moravec, Varga & Mooney has over 30 years of experience in advising clients on the best way to structure their estates to reduce the impact of estate taxes.
Examples of common Irrevocable Trusts include:
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Irrevocable Life Insurance Trust “ILIT”
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Charitable Remainder Trusts “CRT”
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Grantor Retained Annuity Trust “GRAT”
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Special Needs Trust “SNT”