Protecting Your Family With Estate And Tax Planning

Everyone benefits from taking the time to complete an estate plan. Whether you are a new parent who wants to ensure the care and security of a child, or you own a home and want to pass it along to your family, an estate plan can help you protect your family and your assets.

At Kenneth E. Devore & Associates, we have been helping families gain peace of mind with estate planning, tax planning, and probate and trust administration services since 1997. Contact our law firm for caring and personalized service from a team of skilled legal professionals. We serve clients in communities throughout Southern California’s Ventura County and Los Angeles County, including the Conejo Valley, San Fernando Valley and surrounding areas.

Estate planning attorney Kenneth Devore is certified by the State Bar of California Board of Legal Specialization as a specialist in estate planning, trust and probate law. He has an advanced law degree (LL.M.) in taxation. Attorney Barbara Taaff has extensive experience with elder law and serves on the board of directors of the San Fernando Valley Estate Planning Council.

Comprehensive Estate Planning Services

An estate plan should be more than just a legal will or trust. It should include documents to address several important (and not uncommon) life events. A comprehensive estate plan will include the following:

  • A legal will to tell your heirs how you would like to distribute your assets
  • A trust to place the distribution of your assets under the administration of a fiduciary with responsibility to invest and maintain the capital and distribute funds under defined circumstances
  • A pour-over will if you have a trust, to ensure that all of your assets are moved into the trust
  • A durable power of attorney to ensure that someone has the authority to make decisions on your behalf when you cannot; there are financial powers of attorney and medical powers of attorney
  • An advance health care directive (living will), which informs your family and medical care providers about the kind of medical care you would like to receive if you cannot communicate with them
  • Conservatorship designation in the event you can no longer manage your affairs. 

When you work with the estate planning lawyers of Kenneth E. Devore & Associates, we provide comprehensive services to ensure that your assets are protected and your wishes are followed in every area.

Advanced Estate Planning Through Trusts And Partnerships

There are a variety of trust options to help people achieve advanced estate planning goals such as reducing estate taxes, protecting assets from loss, giving to charity, and providing for the educational or special needs of family members. Once we understand your particular needs and goals, we can advise you on what types of trusts will achieve them, including:

  • Revocable or irrevocable living trust
  • Irrevocable life insurance trust (ILIT)
  • Special needs trust
  • Charitable remainder trust
  • Charitable lead trust
  • Grantor-retained annuity trust (GRAT)
  • Intentionally defective grantor trust (IDGT)
  • Family limited partnership

Elder Law Issues

As we age or begin to handle the affairs of an aging parent, different planning tools become important. Durable powers of attorney can allow an adult child to handle the financial affairs of a parent who can no longer manage finances. A trust may be helpful when considering later nursing home care. Medicare, Medicaid and MediCal planning can make long-term care more manageable and protect the assets of a healthy spouse. HIPAA authorization allows for the sharing of medical information with the caregiver.

Elder law attorney Barbara Taaff has extensive experience in the areas of elder law, conservatorships, MediCal planning and nursing home planning. Contact her to learn more about how you can care more effectively for an elder parent or prepare responsibly for your own future.

Business Succession Planning

Owners of small businesses or closely held family businesses must plan for the orderly transition of ownership and management of their assets and companies. Attorney Kenneth Devore’s understanding of tax law and extensive involvement in the business community benefits our business clients as they plan for the successful transition of their business to the next generation.

Contact our Westlake Village law office for a consultation. Call 818-338-3252 or email the firm to schedule yours.