Steven Sears Attorney and CPA

Steven Sears Attorney

Children's Trusts

A Children's Trust can be set up to gift part of your estate to
future generations. This can be done while still maintaining some
control over how your children will be able to spend that money. With a
proper trustee handling the wealth, you can avoid having these funds
disappear or have them fall into the wrong hands, and goals like
college, healthcare, and basic support can be achieved.

Steven Sears Professional Building With
a Living Trust, you are in complete control of all your assets. You can
be the sole trustee or there can be more than one trustee such as you
and your spouse. You designate who your beneficiaries are, what they
will receive and how they will receive it. You can also designate
another trustee to take immediate control of your trust upon your
death, eliminating the need for probate and any other court
involvement.

Steven Sears

Typically, we transfer all or most of your personal and business assets
into this partnership. The family house, bank or brokerage accounts,
and other real estate investments will be transferred into the
partnership.

Steven Sears Professional Building With
regard to limited partnerships and how they relate to estate planning,
Lets discuss a more sophisticated entity and that is a Limited
Liability Company. Which were created out of Europe. A limited
liability company is the best of a corporation and partnership put
together.

Steven Sears Attorney And CPA Tax Plannig In
the event of a lawsuit or judgment, this technique is effective since
generally your creditors will not be able to reach inside the
partnership and seize any of these assets. Under California law, and
the law of most other states, a creditor has no right to execute or
levy on partnership assets with a judgment against one of the partners.
This provision is contained in the California Revised Uniform Limited
Partnership Act, which has been law since 1949.

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Steven Sears Attorney