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Specializing in family wealth preservation for over 30 years
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You’ve probably heard a lot about estate planning in the news lately. But what does it all mean? And more importantly, what do you need to do to ensure your loved ones are taken care of after you’re gone? Let’s look at the basics of
When it comes to estate tax planning in West Los Angeles, Pacific Palisades, South Bay and the surrounding, there’s no better firm than the Law Offices of Michael K. Lanning, APLC. Our attorneys are experts in the field and have years
Trusts are incredibly versatile legal tools that can be used for a variety of purposes. But what are they, exactly? A trust is a legal arrangement between a trustee, who takes possession of property and holds it in the trust to benefit the beneficiary or beneficiaries.
You’ve worked hard to amass your wealth, but what would happen if something happened to you? If you do not have an effective asset protection plan, your assets could be at risk. In this comprehensive guide, we will discuss all the different ways
If you need a conservatorship lawyer, you are likely feeling overwhelmed and stressed. It is essential to choose the right firm for your needs, and that's where the Law Offices of Michael K. Lanning, APLC comes in. We are experts in all conservatorship-related matters
When a family member or a close friend dies without their assets being held in a trust, their estate must go through a legal process known as probate to be divided and distributed among their heirs. This process is lengthy, expensive, public, and can be complex
You’ve probably heard a lot about estate planning in the news lately. But what does it all mean? And more importantly, what do you need to do to ensure your loved ones are taken care of after you’re gone? Let’s look at the basics of
When it comes to estate tax planning in West Los Angeles, Pacific Palisades, South Bay and the surrounding, there’s no better firm than the Law Offices of Michael K. Lanning, APLC. Our attorneys are experts in the field and have years
Trusts are incredibly versatile legal tools that can be used for a variety of purposes. But what are they, exactly? A trust is a legal arrangement between a trustee, who takes possession of property and holds it in the trust to benefit the beneficiary or beneficiaries.
You’ve worked hard to amass your wealth, but what would happen if something happened to you? If you do not have an effective asset protection plan, your assets could be at risk. In this comprehensive guide, we will discuss all the different ways
If you need a conservatorship lawyer, you are likely feeling overwhelmed and stressed. It is essential to choose the right firm for your needs, and that's where the Law Offices of Michael K. Lanning, APLC comes in. We are experts in all conservatorship-related matters
When a family member or a close friend dies without their assets being held in a trust, their estate must go through a legal process known as probate to be divided and distributed among their heirs. This process is lengthy, expensive, public, and can be complex
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Every individual and couple needs an Estate Plan, regardless of the size of their estate. Estate Planning is the general term that applies to protecting a family’s wealth from estate taxes and probate court. A properly drafted Estate Plan can keep families out of court, as is commonly required in the event of death or incapacity. A funded Revocable Living Trust can allow an estate to be administered by a Trustee and not through the probate process, which can be painfully expensive and time consuming for families. Durable Powers of Attorney for Asset Management and Advanced Health Care Directives provide for a family member or close friend to make financial and health care decisions for an individual in the event of incapacity, without having to apply to the court for a conservatorship.
Estate Tax Planning is necessary for some families to allow assets to pass to the next generation without taxation. This can be done in many ways, most commonly including Revocable Living Trusts with credit shelter provisions, life insurance policies owned by Irrevocable Life Insurance Trusts, and planned gifting.
The price of an estate plan varies based on the individual circumstances of each client. Generally, a comprehensive estate plan (which includes a Living Trust, Will, Durable Power of Attorney, and a Healthcare Directive) ranges in price from $3,500 - $4,000 for an unmarried individual and $4,500-$5,000 for a married couple.
The most effective way to protect your assets for your children’s benefit when you pass away is through a comprehensive estate plan that has customized to fit your individual needs and situation.
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