LEARN MORE ABOUT OUR AREAS OF PRACTICE.
We hope to help you understand the importance of protecting your assets and most importantly, your family.
ESTATE PLANNING AND WILLS
The process of estate planning involves people, assets, and the various forms of ownership and title that those assets may take. A properly designed and implemented estate plan gives you the control while helping you in the smooth transfer of your estate to the special people in your life.
The failure to plan ahead can lead to the Internal Revenue Service (IRS) or California Probate Courts to determine how your assets should be distributed after you pass away with associated probate fees that impact your estate.
We recognize the unique concerns of each and every client by tailoring each plan based on your specific needs. Our firm guides you through the planning process, and provides you with the appropriate legal services, whether it be drafting a will or trust, or providing another estate planning solution.
Let us work together to maintain the life you have created.
The primary objectives of trust administration is preserving trust assets and minimizing tax liability, this begins at the time that a Trust is created and continues until terminated. There are many kinds of trusts, including Testamentary Trusts and Living Trust.
The person that creates the trust is called a trustor, and the person managing the trust is called the trustee. By naming yourself as the trustee, you remain in control of your assets during your lifetime, even though your assets have been placed in a trust. The trust instrument will provide for a successor upon your passing or in the event of incapacity.
Due to the complex nature of trusts, proper administration of the trust is necessary and important to ensure that the goals and wishes of the trustor are carried out. Unfortunately most of the important and difficult decisions concerning a trust occur during the time of loss of a loved one. At Duisters & Parvizi, our main concern is helping our clients every step of the way, freeing them to focus on their personal healing and their loved ones.
Probate Courts transfer a deceased person’s assets to the beneficiaries listed in his or her will. The first step in many Probate proceedings is locating the will, and once found, filing it with the probate court. This is usually done by the executor appointed in your will, and if there is no will, then a family member usually starts the probate process.
Probates are public, meaning that the value of your assets will become public record, probate proceedings are time consuming and the process ties up property for months and sometimes more than a year. A probate proceeding generally takes longer than the administration of a living trust. A huge reason to avoid probate, is the expensive cost associated with the process. In California, the lawyer fees and executor commissions are based on a statutory fee schedule which could greatly diminish the value of the remaining estate.
POWER OF ATTOURNEY
A general “power of attorney (POA)” is a legal document designed to give another individual the authority to act on your behalf, it can be general or specific and can serve many purposes including, but not limited to, business, financial, and medical decisions. The authority of a POA will end if you become incapacitated.
However, a “durable power of attorney” is a legal document that will remain in effect throughout incapacitation. This will provide you the security and comfort knowing that your affairs will be handled accordingly by a person you trust should you become incapacitated.
A “springing power of attorney” allows you to create a legal document that only becomes effective at a specified future date or upon the occurrence of a specified event.
It is imperative that you understand your personal objectives and choose an individual you feel is trustworthy and capable of carrying out those objectives.
ADVANCE HEALTHCARE DIRECTIVE
An "advance healthcare directive” is a document that allows you to designate an individual to carry out important health care decisions in the event that you are unable to make such decisions. With an advanced health care directive, your physician, friends, family, and loved ones will be aware of your healthcare preferences and wishes concerning matters such as surgical procedures, life-sustaining treatment, and organ donation.
By creating an advance healthcare directive early on, you can assure that your individual wishes and needs will be carried out in the unfortunate circumstance that you can no longer communicate them yourself. Also, advanced health care directives alleviate the need for loved ones having to make critical decisions during a very emotional time which can be very stressful to all the parties involved.
A “legal guardianship” is a relationship established by the court which designates a person to care for a minor under the age of eighteen whose parent(s) are no longer able to care for them, most commonly as a result of death or incapacity. By establishing a legal guardian for your child/children you have the ability to designate an individual who you believe would be best suited to care for and raise your child in the unfortunate situation that you are no longer able to.
A “conservatorship” is an individual appointed by a judge to handle the management of property and financial affairs in the event that you are unable to make sound decisions or care for yourself. Although conservatorships are designed to protect you, they can be costly due to the need for court intervention.
REAL ESTATE TRANSACTIONS
Legal transactions involving real estate encompass a wide variety of different matters. We represent various property owners, buyers, sellers, landlords, tenants, and brokers.
Our firm assists in various transactions including but not limited to; evictions, deeds of trusts, inheritance of property, drafting and/or review of purchase and sales agreements, and tenant lease agreements.
BUSINESS ENTITY FORMATION
There are various types of business entities, each with their own advantages and disadvantages. When deciding which business structure fits an individual’s needs best, it is important to know the differences and potential pitfalls that come with each organization. It is crucial to compare entity types, determine which state to register your entity, and understand the taxes and liabilities associated with each.
We analyze the type of business, the personnel involved, financing/coverage requirements, and other factors to determine whether to form a corporation, LLC, limited partnership, S-Corp, or other business structure that is right for your business. In doing so, we can all strive to ensure that our work reflects your goals and needs, while giving you peace of mind.
Use the rules of business to protect your assets.