There are so many good things to say about Torrance it is hard to know where to begin. It sits in a fantastic spot on the South Bay, the weather is warm year-round, the humidity is low, and the ocean breezes are always blowing. Beach lovers can bask in a mile and a half of coastal access, and the sun is usually shining.
We also have parks, a wildlife and nature preserve, and the Marvin Braude Trail for cycling enthusiasts. As a Torrance resident you have access to all of these outdoor activities right at your fingertips, but you can also do anything and everything that the city of Los Angeles has to offer.
Experienced California Estate Planning Attorneys
As an estate planning and elder law firm, we take our commitment to our neighbors here in the Torrance area to heart. If you prepare for the eventualities of aging effectively, and you take the right financial steps, you can be comfortable throughout your life as you carefully craft a meaningful legacy.
The ideal estate plan is going to vary depending on the circumstances, and this is something that a lot of people do not understand. There are many different ways that you can go about it, and the right choice for one person may not be appropriate for the next.
We work with each and every one of our clients in a very personal way. Clearly, when you consult with an estate planning attorney, you are going to be talking about sensitive subjects. This can be disconcerting, but we assure you that you will feel perfectly comfortable working with our firm.
Legal matters and documents like wills, trusts, and powers of attorney can seem complicated, and this is another reason why people can feel intimidated. Once again, you don’t have to harbor these concerns if you decide to work with us. We are everyday people, and we explain things in a completely understandable way.
Torrance Residents Have Estate Planning Options
When you plan your estate, you have options. As we have stated previously, there are numerous different estate planning strategies that can be implemented. Every family is unique, and you have the ability to provide for each person that you love in the ideal manner.
For example, some people are not great money managers. You may not want to leave a lump sum inheritance to a loved one who could be described as a spendthrift. To account for this, you could include spendthrift protections when you plan your estate.
There is also the matter of special needs planning. If you leave a significant direct inheritance to a person with a disability who is relying on need-based government benefits, eligibility could be lost. Fortunately, there are special needs trusts that can be utilized under these circumstances.
Wealthy people could be exposed to the federal estate tax. This tax carries a 40 percent maximum rate, so its imposition could significantly impact your legacy. However, if you take the right steps in advance, you can position your assets wisely and reduce your exposure to the estate tax.
Elder Law in Torrance, CA
Elder law attorneys help people prepare for long-term care costs. Around 70 percent of all seniors will require living assistance at some point in time, and one fourth of the oldest old are residing in nursing homes.
Nursing home care is extremely expensive, and Medicare will not pay for living assistance. If you had to pay for nursing home care out-of-pocket, there could be nothing left to leave to your loved ones after you are gone.
The Medi-Cal program will pay for nursing home care if you can gain eligibility. This takes careful, informed planning, because you cannot qualify if you have significant assets in your own name. We can help you implement an effective nursing home asset protection strategy so that you can preserve your legacy for the benefit of your loved ones.
Are You Ready To Get Started?
When you plan your estate, you shape the way that you will be remembered by the people that you love the most, and this is a very profound endeavor. If you act in a fully informed manner, you can be ready for your twilight years and feel good about the legacy that you will be leaving behind.
If you are ready to get started, call us at (310) 677-9787 or send us a message directly. We look forward to hearing from you!