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Foundational Estate Planning

As its name suggests, a Foundational Plan is the base upon which a successful plan is built.  Because every client is different, every client’s plan looks different, but each plan provides you with peace of mind, keeps you in control, and protects your loved ones. The foundational plan is all about protecting you and your loved ones from unnecessary expense and time delay of government interference with your estate.  It also means keeping control of your assets and rights for as long as possible and naming helpers to assist you in times of need.  It creates a system to keep you independent and protect what you have worked so hard for from the clutches of predators and the government.  It also provides a system to protect your children if anything happens to you.

Clients with large (over $2 million; $4 million for married couples) and/or complex estates will need additional advance planning beyond the foundation to reduce or minimize taxes, tackle the complexities of business succession, and provide multi-generational planning.

While most people think of an estate plan as a list of documents, a good plan it is much more.  When you create a plan it is something that your family must live with after you are gone. So, it is important to choose your estate planning attorney carefully as your loved ones will depend on this advisor at their most difficult times.  Because your life changes you should not treat your plan is a one-time event.  You should seek to create a relationship with your attorney that should last for life.  (See the FAQs for help in choosing an attorney)

Contact The Chubb Law Firm today to arrange your Peace of Mind Consultation. Our 12-year commitment to serving the estate planning needs of the greater Sacramento and foothills areas is well-known and can produce just the right Foundational Plan for your loved ones’ future.

Typical Components of the Chubb Law Firm Comprehensive Estate Plan:

  • A Revocable Living Trust, which eliminates probate and the need for conservatorship proceedings with respect to all assets transferred into the trust. This trust directs the disposition of your as-sets to your chosen beneficiaries.
  • For married couples who want to minimize estate tax or provide asset protection to each other, our carefully drafted Spousal Protection Trusts can do more than just meet the minimum legal requirements to reduce tax; we can build a fortress that ensures your children and spouse will be protected from lawsuits and unintentional disinheritance due to remarriages.
  • Children’s Trusts to ensure that your assets are protected for your children. These trusts may include asset protection from law-suits or children’s divorces. For clients who seek to maximize protection, we can craft trust solutions that preserve assets for generations.
  • Will(s) that ensure that all property is transferred to the chosen beneficiaries, even if an asset is not transferred to your revocable living trust during lifetime.
  • Thoughtful incapacity planning to ensure that you are protected in the event you become unable to manage your affairs for any period of time (incapacity is a major risk for everyone, regard-less of age).
  • Comprehensive Attorney-drafted Durable Power of Attorney that allows your spouse or another trusted person to sign documents and handle financial matters for you if mental disability prevents you from managing your own  affairs.
  • Advance health care directive(s), which give directions to physicians and family members  regarding continuation of life support systems and other medical treatment preferences.
  • Trust ID Card enables you to get assets transferred into your trust by simply filling the institution’s forms with your trust’s information on the card, and delivering the form to appropriate institutions.
  • Community property agreements can classify all property as community, to ensure complete avoidance of capital gains tax upon the death of one spouse.
  • Our unique Safeguard for Kids Plan to protect your minor children, includes:
    • Comprehensive Nomination of Guardians for minor children that is effective during your lifetime (in case you become incapacitated) and not just upon your death.
    • Short Term Guardian nomination to ensure that someone is available immediately
    • “Anti-nomination” of guardians to protect your children from relatives who would be poor or dangerous guardians.
    • Fill in the blank Instructions to Guardian form where you can provide essential information about your child’s needs.
    • Minor’s Health Care Power of Attorney so that all trusted caregivers can authorize healthcare for your minor child if you are unavailable.
  • Letters to all of the people you named as guardians, trustees, or other key positions explaining to them the honor, responsibility and definition of their role in your plan. The letters also share where to find the documents when they’re needed
  • Letters to people who care about your child with special needs advising them of the creation of your child’s Special Needs Trust and how to avoid inadvertently harming the child in their own estate plan.
  • Fill in the blank Memorial Instruction forms to express your preferences and protect your family from over-spending or suffering from uncertainty about your wishes after your death.
  • An Estate Planning Portfolio containing all your original planning documents – information central should your family face a crisis, and an Operations Manual CD containing copies of all your planning documents as well as handy forms to keep portions of your plan up to date yourself.  Having electronic copies makes it easy to share with those you choose.

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As Seen On

Elder Council Elder Care Matters Wealth Council   Good Day Sacramento Financial Advisor Fox 40
Sacramento Estate Planning Council Neala     Credit Card Guide The Sacramento Bee  

Life Transition Planning

Contact Us

   
Young Adult or Parent of Minor Children
In the Prime of Life
Concerned About the Impact of Long-Term Care
Handling A Loved One’s Estate
The Chubb Law Firm
1833 Iron Point Road, Suite 120
Folsom, CA 95630
Phone: 916.241.9661
Fax: 916.294.7275
Or use our online form >>
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