Irvine Estate Planning Lawyer

The main objective of estate planning for the residents of Orange County, California, is to provide for the passing of one’s property and money to the next generation with ease and efficiency. Whether you are single, married, or in a domestic partnership, if you are a resident of Irvine, California, you will need at least the basic estate planning instruments: a trust, will, and powers of attorney for finances and health care. In the event of your incapacity, the powers of attorney will allow your designated agent to make important financial and medical decisions on your behalf.

Another goal of estate planning for those individuals and families living in Irvine, California, with substantial assets is to plan for federal estate taxes (aka “the death tax” or “inheritance taxes”). With proper preparation, your Orange County wills and trusts lawyers at Mortensen & Reinheimer, PC can help determine your potential tax exposure and identify specific wealth preservation strategies and the appropriate estate planning tools that can reduce or eliminate your estate tax liability, including:

• Revocable living trusts to avoid probate and conservatorships, and reduce or eliminate estate or inheritance tax liability;
• Tax Shelter trusts which can maximize the value of your federal estate tax exemption, such as A-B trusts, Q-TIP or Q-DOT trusts, or irrevocable life insurance trusts;
• Lifetime gift-giving and charitable remainder trusts, charitable foundations, or other charitable gifts; and,
• Family business management succession planning, or formation of family partnerships or limited liability companies to hold assets.

The Orange County trusts and estates lawyers of Mortensen & Reinheimer, PC also prepare special needs trusts for disabled beneficiaries, honorary trusts for the care of your pet, premarital agreements, and other important planning documents. For additional information and a consultation, please contact us at (714) 573-7149.