Best Monterey County Estate Planning Lawyers
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Top Trust & Estate Planning Attorney – Monterey County, CA.
Your Monterey County Estate Attorneys
At Hess-Verdon, you will find your answers! After 30+ years in estate planning and litigation matters, you will receive in-depth knowledge from deep-court experienced lawyers. The intricacies are in the details!
When up against a trust & estate matter, it is crucial to receive superior knowledge to guide you on your legal standings.
For a limited time, we are offering a 2nd opinion case review.
It’s essential to help our Monterey County, CA. families and provide the correct perspective on a litany of estate planning issues, including trust litigation.
What to expect
You can expect unparalleled client-centered focus!
We are aggressive in representing our client’s legal rights! With that said, feel free to request a 2nd opinion case review. Professionalism from beginning to end is our motto.
Sophisticated estate planning matters, including blended family topics, trustee and co-trustee disputes, trustee representation, beneficiary representation, corporate formations, business partnership disputes, and real estate matters.
Our clients are aware that a highly drafted living trust is paramount. You will never know how well written your estate plan because it comes into effect after you die.
Who will know?
Your successor trustee and beneficiaries will know, so, Hess-Verdon drafts your trust with 30+ years of court time and with a trust administration backbone!
Meet our Managing Partners. Well skilled and down-to-earth, is what you’ll find here at Hess-Verdon. The Hess-Verdon team of lawyers focuses on Litigation, Trust Administration, Wills, Insurance Trusts, Dynasty Trusts, Special Needs Trusts, Family Partnerships, Personal Residence Trusts, Charitable Trusts, Corporate formations, Partnership disputes, and other Real Estate Law.
Monterey County Estate Attorneys Near Me
Hess-Verdon is in Newport Beach. We have 30 years’ experience in estate planning law. We have helped thousands of clients protect their estate, grow their estate, and pass it down to their loved ones through various legal instruments.
Advanced Estate Planning
Living Trusts | Irrevocable Trusts
What is an advanced estate plan?
It’s where your estate combines businesses, properties, intellectual property, blended families, and complex family matters. As a trustor/grantor, it’s crucial to have all your i’s dotted and t’s crossed in this litigious environment.
Now, some people believe it’s ok to search for an “estate planning lawyer near me” and that drafting an estate plan is routine. With the growth of trust and probate litigation, it’s obvious it’s not. When it comes to advanced estate planning, a deep-court experienced attorney is always a great choice. Hess-Verdon leads the way!
Our living trust lawyers use sophisticated estate planning and wealth preservation techniques to assist individuals, families, executives, and owners of closely-held businesses in preserving and protecting their assets and tailor plans to meet each client’s objectives.
Charitable Remainder Trust (CRT)
A charitable remainder trust (CRT) is an irrevocable trust, meaning it cannot be modified or terminated without the beneficiary’s permission.
A CRT is a tax-exempt trust designed to assist you in reducing the taxable income of the individual. It is designed to disperse income to the beneficiaries for a specific amount of time (no more than 20 years) and then donating the remainder of the Trust to the designated charity (IRS-approved).
Learn more about charitable remainder trusts.
Charitable Remainder Unitrust (CRUT)
A CRUT makes annual payments to beneficiaries during the life of the donor, and when they die, the remainder of the trust goes to a charitable cause. The payment to beneficiaries is calculated as a fixed percentage of the assets reaming in the trust. During the trust’s lifetime, the owner can top up the assets as he/she pleases.
There are various charitable remainder unitrusts, including a standard unitrust, a net income Unitrust, and a Flip Unitrust. The payment to beneficiaries depends on the type of CRUT created.
Learn more about charitable remainder unitrust.
Grantor Retained Annuity Trust (GRAT)
A GRAT (Grantor-Retained Annuity Trust) is an advanced estate planning practices and procedures that can help safeguard your wealth. One of these is the Grantor-Retained Annuity Trust, a financial instrument used to eliminate or minimize taxes on inheritable estates and assets. This kind of estate planning transcends the average and obvious tasks of will execution and living trust management to include estate/asset protection for many years. Learn more on Grantor Retained Annuity Trusts.
QUALIFIED TERMINABLE INTEREST PROPERTY (QTIP)
What is a QTIP trust?
A QTIP trust is an estate planning tool that empowers you to provide income for your surviving spouse and eventually pass on the estate to your chosen beneficiaries. In most cases, QTIP beneficiaries are children from your first marriage.
While a QTIP trust ensures that your loved ones are taken care of, it also reduces estate taxes. QTIP assets are not taxed; they enjoy the same marital deductions as any other marital trust.
Learn more about qualified terminable interest property (QTIP)
Intentionally Defective Grantor Trust (IDGT)
An Intentionally Defective Grantor Trust is a hybrid trust with similar benefits to both a revocable and irrevocable trust. It is the best of both worlds.
It is a vehicle for tax-free wealth transfer. The term “defective” in IDGT implies that the irrevocable Trust contains similar elements to a revocable trust. For one, all Intentionally Defective Grantor Trusts should include a provision that requires you (the grantor) to continue paying income tax on the Trust until the end of your life.
Learn more about Intential Defective Grantor Trusts
SPOUSAL LIFETIME ACCESS TRUST (SLAT)
From the name, a SLAT is an unchangeable trust where one marriage partner makes a gift into a trust to benefit their spouse (and family members). In the process, the assets are removed from their joined estates.
The husband can choose to finance a SLAT for the benefit of the wife or vice versa.
Learn more about Spousal Lifetime Access Trusts
QUALIFIED PERSONAL RESIDENCE TRUST (QPRT)
A qualified personal residence trust is the irrevocable Trust for your residence. It serves two purposes. It helps you remove the home from your estate to reduce or eliminate estate and gift taxes. It also helps to transfer the property to a beneficiary to avoid probate.
Once created, the terms of a QPRT are unchangeable. Even so, you continue to live in residence for a specified length of time in the trust terms. You have retained an interest in the house. Upon the expiry of the period, the remaining interest is passed on to your beneficiary tax-free.
Learn more about qualified personal residence trusts
Dynasty Trust | Legacy Trust
A legacy trust vs. a dynasty trust means the same thing. It’s an irrevocable trust that allows wealthy families to keep their money in the family for many generations skipping transfer taxes, such as gift tax, estate tax or generation-skipping transfer tax (GSTT) for as long as assets remain in the trust.
Learn more about Dynasty Trusts | Legacy Trusts
Irrevocable Life Insurance Trusts (ILIT)
An ILIT is an estate planning wealth management tool that is specifically drafted to own a life insurance policy or policies. The ILIT is irrevocable and once set up, cannot be changed. Designed to reduce estate tax while creating the ability to pass on the insurance proceeds to heirs and beneficiaries.
The main purpose of an irrevocable life insurance trust is to eliminate estate taxes by moving or purchasing life insurance in the name of the ILIT and thus avoid federal income tax.
Learn more about Irrevocable Life Insurance Trust (ILIT)
Charitable Lead Trusts (CLT)
The grantor is the individual that establishes the trust. He/she contributes or funds the trust set up to operate within a specified number of years. The charity is the appointed philanthropic organization named in the trust. The “lead” means the interest (from the trust’s assets) payable to the charity for the specified term.
Learn more about Charitable Lead Trusts (CLT)
Contact Us Today
We counsel clients on estate and tax planning, wealth preservation, multi-generational tax and estate planning, asset protection planning, business succession planning, charitable planning, and related legal matters. We assist Irvine families in dealing with family legal issues affecting seniors and disabled children or family members with special needs.
Meet The Team
- Charitable Remainder Trust (CRT)
- Grantor Retained Annuity Trust (GRAT)
- Qualified Personal Residence Trust (QTIP)
- Learn more on estate planning.
Are you looking for a trust attorney serving Monterey County residences? When it comes to the practice of Trust and estates, it can be difficult finding an attorney that’s experienced in handling your specific issues.
With over 30+ years of law, 3000+ clients throughout our tenure,
you can receive in-depth legal counsel today.
Request a Case Review Today Call us at 888-318-4430Putting a Home in a Trust If you've ever thought about putting your home in a trust, you should know that it's not as complicated as it sounds. Having your house in trust can provide many protections and...
California Trust & Probate Litigation Lawyers
Are you looking for an estate litigation attorney in your area? When it comes to the practice of Trust and estates, it can be difficult finding an attorney that’s experienced in handling your specific issues. Siblings contesting the trust?
- Can a Trustee sue on behalf of the trust
- Can a Trustee be held personally liable
- Can a Trustee remove a Beneficiary from a trust
- Settling a Trust After Death
- Being a Trustee of a Trust
NEED A SECOND OPINION?
Hess-Verdon is ready to help you today.
City County links (coming soon)
San Diego City Links
Request a Case Review Today Call us at 888-318-4430Learn about Charitable Remainder Trusts Podcast from Invest-Talk Justin, Jillyn Hess-Verdon and R. Kurt Ketchum What is a Charitable Remainder Trust Hess-Verdon & Associates - 888-318-4430...
As a Trustee, Can a Property Be Sold The trustee distributes the property, pays taxes, and performs other duties required by law or the trust document. Trustees can sell a home if this is in line with their fiduciary duty per the trust document. Call (949) 706-7300 to...
Request a Case Review Today Call us at 888-318-4430Step-up Basis at Death for Revocable and Irrevocable Trusts A step-up in basis refers to the appraisal of appreciated assets' value in a trust to inform taxation upon inheritance. Usually, what is considered...