The term “estate planning” is self-explanatory, it involves organizing and structuring a person’s or a family’s personal and financial affairs. At the Law Office of Mario A. Pacione, we use estate planning tools to assist clients with a variety of issues, including but not limited to the following:

• Avoiding probate and conservatorship proceedings.
• Managing their property during their lifetime.
• Facilitating disposition of property upon death.
• Anticipating healthcare decisions and incapacity strategies.
• Inheritance, property, transfer and gift tax planning.
• Planning for special needs children and other disabled beneficiaries.
• Helping to protect children from squandering their inheritance.

When it comes to estate planning, studies show that the majority of Californians fail to do it. It is not an easy endeavor. Most individuals do not want to think about death or taxes unless they are forced to. Many of our clients seek our help after they have experienced or witnessed a catastrophic event such as a major illness or unexpected death. Many individuals and families who begin the process of estate planning utilize the services of financial planners, insurance agents and accountants.

The most widely known and widely used estate planning tool in the State of California for the past one hundred years is the Last Will and Testament. It is a written instruction that directs the disposition of a person’s things when they die. Many individuals who begin to explore the idea of estate planning usually discover the option of creating a Trust (commonly referred to as a “revocable trust”). The trust concept is a highly useful and versatile estate management vehicle that can be used during a person’s (or family’s) lifetime and well after their death. For the average client, a trust is a convenient method to avoid probate, avoid estate conservatorship, reduce or eliminate certain taxes and direct post-death distribution in creative ways while maintaining privacy.

In addition to revocable trust, the laws in the State of California (as well as the federal tax codes) also permit and recognize the creation of certain irrevocable trusts. These more complex estate planning tools, including life insurance trusts, trusts for minors, grantor retained interest trusts, charitable remainder trusts and special needs trusts and qualified domestic trusts, allow individuals and families with larger estates to engage in more advanced estate redistribution planning to reduce their exposure to inheritance and other tax liabilities. If you have worked hard and saved your money AFTER paying income taxes, it is worth investing in an estate plan to fully take advantage of laws that may prevent your heirs from paying tax AGAIN because of the size of your nest-egg. An experienced estate planning attorney like Mario A. Pacione can help explain the different options available in a straight-forward manner so that you can make the best decision for you and your family when planning the transition of your estate.

So why should you consider speaking with an attorney for your estate planning needs? A competent estate planning attorney strives to efficiently produce a plan that meets the client’s specific goals while traversing and anticipating a system of divergent and complex laws, including estate, gift, and generation-skipping transfer tax laws, income tax laws, real property and documentary transfer tax laws, family law, corporate law, and state law limitations on the transfer of property.

We will explain to you in simple terms the meaning, purpose and effect of each estate planning tool available to you and recommend what we believe would best serve your bottom line goals. In addition to wills, trusts, powers of attorney and healthcare directives, we can review and analyze a multitude of other estate planning issues, including joint tenancy property, community property, pay on death accounts, Totten trusts, life insurance policies, annuities, pension plans, and retirement plans.

The Law Office of Mario A. Pacione assists a diverse base of clients who range from fixed income geriatrics relying on public assistance benefits to high net worth executives. We provide a welcoming and informative atmosphere where you can receive the expert.