Estate Planning Attorney Huntington Beach – Jon K. Alban, Esq.

Estate Planning Attorney Huntington Beach

Jon K. Alban, our estate planning attorney who serves Huntington Beach, Greater Long Beach, and all of Orange County, got his undergraduate degree at UC Berkeley and his Law Degree from what is now the Sandra Day O’Connor College of Law at Arizona State University. Jon is married and has a son.

Jon walked us through his Estate Planning Questionnaire in an effort to educate us about

1)  WHAT SHOULD BE INCLUDED IN MY ESTATE PLAN? (This should cover your “What if’s?”)
– Revocable Living Trust
– Will
– Certification of Trust
– Power of Attorney
– Advance Health Care Directive

2)  WHY SHOULD I HAVE A TRUST? (Once you file it can take up to 4 months to get to court)
– Save Probate Cost, Expense, and Time
– Save Conservatorship Cost, Expense, and Time

3)  WHAT IS THE ESTATE TAX? (The big one, taxes can be up to 60%)
2010        $5,000,000 exempt, with option to elect no estate tax with carry-over basis
2011-12 $5,000,000 exempt, with portability option for unused spousal exemption
2013&after  $1,000,000 exempt

4)  WHAT IS GIFT TAX? (Anything over $13,000.00 needs to be reported)
2010        $1,000,000 exempt
2011-12 $5,000,000 exempt
2013&after  $1,000,000 exempt

5)  WHAT IS GENERATION-SKIPPING TRANSFER TAX? (An additional tax!)
2010        $1,000,000 exempt
2011-12 $5,000,000 exempt
2013&after  $1,000,000 exempt

6)  WHAT CAUSES PROPERTY TAX REASSESSMENTS? (seek advice in order to avoid any problems that come from complex tax issues)
How can I avoid reassessment?

7)  INCOME TAX
What is “step-up” in basis?
What is “carry-over” basis?

8)  WHAT IS MY ESTATE PLAN?

The bottom line is this: money spent on the front end by using an Estate Planning Attorney such as Jon K. Alban, Esq. is money well spent. Avoid the pitfalls, penalties, delays and very expensive mistakes by getting expert estate planning help!

Alban & Alban, A Law Corporation

3010 Old Ranch Parkway, Suite 225

Seal Beach, CA 90740

562-594-0222
Fax: 562-594-0242

jkalban@aol.com

Notice: “To the extent this communication concerns tax matter, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law.  Laws are subject to change from time to time, and you must consult directly with an attorney for advice and assistance for your particular situation.”