“There is no ‘one-size-fits-all’ estate plan or estate administration process. Many plans and planning tools work well for a majority of clients. Some work well for many clients. Others work well for only a few. Only an experienced attorney knows the difference and how to design, prepare, implement and operate a customized estate plan or how to conduct an estate administration appropriate for a given client.” STEVE YAHNIAN, Attorney/CPA, Yahnian Law Corporation
Detailed Description of the Estate Planning and Administration Services we Provide
A detailed description of our Estate planning and Administration services is set forth in the following paragraphs.
Asset Protection involves Legal ways to preserve your assets.
Asset protection is the process of
Properly analyzed, designed and implemented, asset protection can provide significant advantages to
Through proper planning, assets can be protected during the owner’s life and during the life of beneficiaries or heirs.
Maximum asset protection can be achieved through the use of:
Although there is no absolute form of asset protection, proper planning can
Yahnian Law Corporation has been substantially involved in the counseling, planning and design of Business Succession strategies and plans over the years. These services involve the following:
Captive Insurance companies are a novel planning technique involving the creation of an insurance company owned by the closely held business owner to service his small businesses. A captive insurance company can be used to accomplish the following, among other objectives:
We design and prepare planned giving programs, and advise charities and donors regarding the tax and other benefits of such programs.
Particular emphasis is given to advising clients regarding the income tax aspects of charitable contributions as well as the creation and implementation of charitable remainder trusts and pooled income funds.
We also assist clients regarding valuation issues and the implementation of private foundations as a vehicle for effecting charitable gifts.
Our Elder Law and Medi-Cal Planning services
Steve Yahnian is one of a limited number of lawyers statewide who has been designated a Certified Estate Planning, Trusts and Probate law specialist by the California State Bar Board of Legal Specialization.
We prepare estate plans of all kinds and complexity, and for all sizes of estates. We incorporate into the planning considerations of our clients’ estates income tax, estate and gift tax, generation-skipping transfer tax, charitable trusts, life insurance, pension law, property tax, and the potential future need for long-term nursing or custodial care.
Particular emphasis is given to tax planning for family wealth transfers, including the creation of intra-family gift programs involving outright gifts, gifts of stock in family corporations, the creation and implementation of family partnerships and grantor annuity and income trusts.
In Summary, Yahnian Law Corporation provides the following Estate Planning services:
We represent personal representatives, trustees, beneficiaries and heirs in audits by the Internal Revenue Service or Franchise Tax Board regarding estate tax returns. We prepare or, where requested, assist accountants in the preparation of federal and California estate tax returns, gift tax returns, fiduciary tax returns and final federal income tax returns of the decedent.
International Estate Planning
Our international estate planning services include:
coordinating and developing an estate plan for individuals who have family and/or assets in multiple countries that will deal with potentially conflicting laws, minimizing to the extent possible double taxation, and carrying out the individual’s estate planning objectives;
analyzing and advising on U.S. residency issues from a U.S. income tax perspective for a non-U.S. citizen person, living in the U.S. on a temporary basis;
analyzing and advising on U.S. residency issues from a U.S. transfer tax perspective (i.e., gift, estate and generation skipping transfer tax) for a non-U.S. citizen person, living in the U.S.;
advising the non-U.S. person on acquisitions of U.S. situs assets;
coordinating and developing an estate plan to minimize and/or eliminate U.S. estate taxes on U.S. situs assets for the non-U.S. person;
advising on the possible tax consequences and reporting requirements associated with making a gift or bequest to a U.S. beneficiary and developing a tax efficient plan to minimize U.S. transfer taxes both at the donor level and the donee level;
advising on the U.S. income tax and transfer taxes that may arise for the married couple when one spouse is a U.S. citizen and one spouse is not;
advising on the U.S. income tax, transfer tax, and reporting rules associated with establishing a non-U.S. trust that does or may have a beneficiary who is either a U.S. citizen or resident;
advising on how to avoid inadvertent triggering of gift taxes when transferring funds or making gifts to beneficiaries residing in the U.S.;
developing and implementing estate plans to minimize U.S. estate taxes on a non-U.S. person’s U.S. assets;
providing pre-immigration and expatriation tax planning; and
advising on U.S. tax and reporting obligations associated with the ownership of foreign assets and interests in foreign trusts, foreign corporations and foreign partnerships.
Yahnian Law Corporation provides complete and comprehensive Living Trust planning, design, preparation and implementation services. Those services include the following:
We represent fiduciaries in the administration of estates.
Our practice includes petitioning for appointment of personal representatives in estates, preparing and evaluating inventory and appraisements, monitoring the creditors’ claim process, petitioning for instructions regarding interpretation of wills or for instructions regarding actions to be taken by the personal representative, and petitioning for preliminary and final distributions.
We also advise personal representatives regarding their fiduciary duties, the sale of assets in the estates, and the preparation of accountings and reports.
We represent beneficiaries and heirs in obtaining assets that may be passed by a summary probate procedure. We prepare and record affidavits of death of joint tenant for the passage of joint tenancy assets to the surviving joint tenant. We prepare affidavits for the passage of personal property under $100,000. We prepare affidavits for the passage of real property under $10,000. Our practice also includes petitioning to the court for determination of succession of real and personal property if the property is valued under $100,000 and petitioning for the determination and confirmation of property passing or belonging to the surviving spouse. We also assist in the transfer and distribution of assets under the summary probate procedures.
In addition to estate planning activities in drafting a trust instrument, we also represent trustees and beneficiaries in administration of trusts.
Our practice includes petitioning for transfer of assets into the trust after the death of the trustor in the event title was incorrectly cleared, funding subtrusts, petitioning for instructions regarding the interpretation or modification of trusts, monitoring the creditors’ claim process, petitioning for instructions regarding actions to be taken by the trustee, petitioning for termination of trusts, and petitioning for resignation of trustees and for the appointment of successor trustees.
We also advise trustees regarding their fiduciary duties, the sale or distribution of trust assets, and the preparation of accountings and reports.