Estate Planning

Establishing an estate plan is one of the most important steps you can take to protect yourself and your loved ones. Proper estate planning not only puts you in charge of your finances, but it can also spare your loved ones of the expense, delay and frustration associated with managing your affairs when you pass away or become disabled. An estate planning attorney can review all your options with you and strategize a plan that ensures your wishes will be honored.

A well-crafted estate plan should provide for your loved ones in an effective and efficient manner by avoiding probate at death, estate taxes and unnecessary delays. We are qualified to review your family and financial situation, your goals and explain the various options available to you. Once your estate plan is in place, you will have peace of mind knowing that you have provided for yourself and your family in case the worst happens. 

When it’s time to establish your own estate plan and living trust, let our family protect yours. Gianelli | Friedman | Jeffries is one of the top estate planning firms in California. We will make sure your wishes are respected, whether you need a simple trust or you have the most complicated estate. Our firm is dedicated to helping clients make educated, informed decisions about their assets and will work with you and your team of financial advisors and CPAs to implement a highly sophisticated and effective estate plan that allows for the maximum transfer of assets to your loved ones.

Testimonials

“Every aspect of my experience with Gianelli | Friedman | Jeffries has proven that I made the correct decision in having you write my will and power of attorney papers. Thank you so very much for your efforts.”

- Richard Chamberlain | Client

“Since GFJ is a full service law firm it has become essentially a one stop shop for our company's legal needs. Business is complicated today and having multiple attorneys within one office who understand and are familiar with your operation is a real advantage.”

- Evan Porges | Prime Shine, Inc. | Modesto, CA

“GN helped my family update our trust and they were great to work with! They were very thorough, discussed alternative options, and helped us make the best decisions for our family.”

- Eric Tobias | Modesto, CA

FAQ

Q: What is estate planning?

When someone passes away, his or her property must somehow pass to another person. In the United States, any competent adult has the right to choose the manner in which his or her assets are distributed after his or her passing. (The main exception to this general rule involves what is called a spousal right of election which disallows the complete disinheritance of a spouse in most states.) A proper estate plan also involves strategies to minimize potential estate taxes and settlement costs as well as to coordinate what would happen with your home, your investments, your business, your life insurance, your employee benefits (such as a 401(k) plan), and other property in the event of death or disability. On the personal side, a good estate plan should include directions to carry out your wishes regarding health care matters, so that if you ever are unable to give the directions yourself, someone you know and trust can do that for you.

Q: Why is it important to establish an estate plan?

Sadly, many individuals don’t engage in formal estate planning because they don’t think that they have “a lot of assets” or mistakenly believe that their assets will be automatically shared among their children upon their passing. If you don’t make proper legal arrangements for the management of your assets and affairs after your passing, the state’s intestacy laws will take over upon your death or incapacity. This often results in the wrong people getting your assets as well as higher estate taxes.

If you pass away without establishing an estate plan, your estate will undergo probate, a public, court-supervised proceeding. Probate can be expensive and tie up the assets of the deceased for a prolonged period before beneficiaries can receive them. Even worse, your failure to outline your intentions through proper estate planning can tear apart your family. It is not unusual for bitter family feuds to ensue over modest sums of money or a family heirloom.

Q: What does my estate include?

Your estate is simply everything that you own, anywhere in the world, including:

  • Your home or any other real estate that you own
  • Your business
  • Your share of any joint accounts
  • The full value of your retirement accounts
  • Any life insurance policies that you own
  • Any property owned by a trust, over which you have a significant control

Q: How do I name a guardian for my children?

If you have children under the age of eighteen, you should designate a person or persons to be appointed guardian(s) over their person and property. Of course, if a surviving parent lives with the minor children (and has custody over them) he or she automatically continues to remain their sole guardian. This is true despite the fact that others may be named as the guardian in your estate planning documents. You should name at least one alternate guardian in case the primary guardian cannot serve or is not appointed by the court.