Vivinavi : Silicon Valley : (United States) Silicon Valley

Estate ・ What is Planning

Simply put, it means first of all, to think and plan how your medical treatment and property management will be handled if your health deteriorates, and also to decide and arrange in advance how your property will be divided after your death. In addition, you need to decide and arrange in advance how your assets will be divided after your death. Minimizing taxes in the process and avoiding probate in state court are the most important benefits of estate ・ planning, but there are other benefits of estate ・ planning that I would like to emphasize. Planning also has intangible benefits that I would like to emphasize, such as the relief of being prepared in the event of a serious illness, and helping to maintain harmony among surviving family members during estate planning. At Merritt Law Firm, we will work with you to create an estate ・ plan that is carefully tailored to your unique situation.

Estate ・ Planning involves the preparation of the following documents.

Advance Health Care Directive

Designate a representative in the event you become unable to manage your own health and You may designate a proxy in the event that you are unable to manage your own health care, and you may also indicate your wishes regarding life prolonging procedures.

Power of Attorney
Durable Power of Attorney
Designates a representative to manage your estate in the event you become unable to manage your own affairs and avoid the court-monitored estate Avoids the need for a court-monitored administrator.

Will

Directs the distribution of your property after death. Also appoints guardians for minor children.

Living Trust
Living Trust
Avoid pro In addition to a will, a living trust can be used to avoid probate, minimize tax and inheritance expenses, and protect the privacy of your estate and other assets. Estate ・planning with a living trust is also the most adaptable planning option because it allows you to prepare for a variety of situations.

PROBATE （ Probate ） is a

court-supervised process that （ 1 ） verifies the deceased's estate and pays debts and taxes, （ 2 ） verifies that the will, if any, is legitimate, and （ 3 ） verifies the legitimate beneficiaries and distributes the estate. 2 Verify that the will, if any, is legitimate, and 3 Identify legitimate beneficiaries and distribute assets, etc. The information is subject to disclosure. The process can take from 9 months to 18 months, but may take longer. Probate proceedings are subject to legal fees as required by law. Merritt Law Offices can handle the probate process for you.

TRUST ・ ADMINISTRATION （ ADMINISTRATION OF TRUST PROPERTY ）

After a trust is established, the trust settlor delegates the administration of the trust property to the trustee, who then administers or distributes the trust property for the beneficiaries according to the terms of the trust. \The trustee manages or distributes the trust property for the beneficiaries in accordance with the terms of the trust. Basically, it is executed privately, without the involvement of the court, and its duration varies from trust to trust. In a common example, if the settlor of a living trust dies and the beneficiary is unable to manage the property due to prematurity or disability, the trust property is not immediately distributed to the beneficiary, but another person succeeds to the trustee's duties, continues to manage the property for the beneficiary, and distributes the property as needed. A relative or family member may be a suitable successor trustee, or it may be better to appoint an attorney, accountant, or other individual whose job is to work with trusts, or the trust department of a bank. Merritt Law Offices can take on the trust ・administration as trustee.