At MacKay & Martin, LLP we believe that planning for the future can make life more comfortable by providing you with a sense of control. That's what estate planning is all about — feeling prepared for both the inevitable and the unexpected. If you live in or close to Los Angeles and have decided that it's time to plan your estate, you will find our attorneys highly competent and extremely well-informed about state and federal estate planning law. Moreover, you will find we are innovative in our approach to protecting your assets, planning for your retirement, providing for your loved ones and leaving an enduring legacy.
Planning for the future is precisely what our skilled estate planning attorneys will help you to do. We go above and beyond your expectations, often giving you the answers to questions you may not even have thought to ask. Don't make the common mistake of thinking that estate planning is something you don't have to be concerned about until middle age or only something that requires your attention if you have substantial assets.
The fact is that most of us want to be able to live fully, retire comfortably, and leave our loved ones with some measure of security. It is also true that all of us will go through challenges we never thought we would. The reality is that going through life without an estate plan is like going through life without insurance — foolish and dangerous.
Advantages to Estate Planning with MacKay & Martin, LLP
There are many good reasons to choose MacKay & Martin, LLP as your estate planning lawyers. Apart from our excellent credentials and experience in the field, we charge a flat fee for estate planning so there are no surprises. Also, you will work consistently with the same attorney so an important bond of trust can be established. Finally, we are knowledgeable in all areas of estate planning, including:
A will is a document in which you name your beneficiaries, and make your wishes known regarding any special property (e.g. car, jewelry, painting) you want to distribute to particular individuals. It is also the place in which you name your executor, the person who will manage your estate after your death, and, most importantly, the guardian for any minor children you may have. We will make sure your will is drafted and reviewed carefully so that it will be unquestionably legally binding.
Unfortunately, there are many risks to your assets unless diligent estate planning attorneys help you to protect them. Unprotected assets are vulnerable to unnecessarily high taxes, greedy ex-spouses, and predatory lawsuits (especially if you are a physician or an attorney). Even if you are not a professional, you may be sued for personal injury on the grounds of premises liability or after a vehicular accident. Add to these risks credit cards with exorbitant interest rates and scam artists… and you begin to understand the widespread dangers to your assets. This is where the estate planning attorneys of MacKay & Martin, LLP are invaluable. We will help you plan your estate using well-honed asset protection strategies, for example creating liability companies, corporations, and trusts.
There are a great many types of trusts we can help you create to protect your assets. These include:
- Irrevocable trusts
- Revocable trusts
- Trusts for minors
- Special needs trusts
- Spendthrift trusts
- Testamentary trusts
- Qualified Terminable Interest Trusts (QTIPS)
- Charitable trusts
Each type of trust has a particular purpose. Our practiced attorneys will clarify these purposes and recommend the trusts best-suited to your needs.
Business Succession Plans
If you own a business, a significant part of protecting your assets is protecting your business, now and going forward. At MacKay & Martin, LLP, we have several tactics to ensure that your desires for business succession are fulfilled, whether you want your business to be sold or passed to a person you designate when you retire or pass away.
Probate is the judicial process by which your estate is evaluated after your death, an executor is put in charge and your estate is legally distributed to your assigned beneficiaries. Probate can be a time-consuming and expensive process, especially if you have substantial assets. At McKay & Martin, LLP we are well-prepared to help you avoid probate altogether by setting up the appropriate trusts.
Power of Attorney
Although there are a few different kinds of Power of Attorney, a general Power of Attorney (the one most often used) gives a person you designate the ability to make decisions on your behalf if you become impaired or disabled.
Health Care Proxy
A health care proxy is a legal document in which you name a trusted relative or friend to make healthcare decisions on your behalf should you become unable to speak for yourself. Presumably, you have made your healthcare proxy aware of what you would want to be done medically in case of dire healthcare events or in terms of end-of-life care.
HIPAA is an acronym for the Health Insurance Portability and Accountability Act. It serves a few different purposes but is best known for keeping healthcare information private. Because doctors and hospitals are otherwise forbidden to release your healthcare information, in order for one or more of your loved ones to have access to your healthcare providers you must sign a HIPAA Authorization. This will enable the person or people you name to openly communicate with doctors and other medical professionals about your condition.
Living wills are documents in which you leave legal instructions regarding your preferences for medical care. Their purpose is to speak for you if you are unable to communicate your wishes because you are seriously injured, terminally ill, in a coma, or have advanced dementia. In your living will you indicate, for example, whether you want to be intubated or to have a feeding tube inserted if you are at the end of your life. While you may feel that you don't need a living will until you are elderly, remind yourself of all the people who have suffered severe injuries, fatal illnesses, or sudden cardiac events.
Contact Our Los Angeles Estate Planning Attorney
The sharp attorneys of MacKay & Martin, LLP have a comprehensive, in-depth understanding of federal and California state laws and all the tools necessary to help you plan your estate. Contact us by phone, email, or a form on our website to receive outstanding service and personal attention.