Randhawa Hundal LLP Estate Planning Lawyers

Randhawa Hundal LLP Estate Planning LawyersAn estate plan is an arrangement for the conservation, investment, use, management, and transfer of a person’s property, both during the person’s lifetime and after the person’s death. “Estate planning”, therefore, refers to arranging an individual’s property such that maximum benefit is accomplished at the time of property transfer – upon the death of the individual.

An ideal estate plan maximizes opportunities for savings and investment, improves investment techniques as well as tax savings, makes management of property seamless in the event of incapacity, allows transfer of property to individuals and charities of one’s choice, and much more.

Typical Estate Planning Tools:

While every individual’s situation is unique and requires specific analysis, the following is a list of tools that may be used when planning an estate.

  • Will or pour-over will
  • Revocable inter vivos trust (Living Trust)
  • Irrevocable inter vivos trust
  • Trust for minors
  • Life insurance trust
  • Special needs trust

Probate Avoidance:

Roseville Estate Planning LawyersOne of the primary goals for many individuals in planning their estate is to avoid probate. Probate is the judicial process by which a decedent — the individual that passed away — has their property and assets collected, inventoried, and subjected to the payment of creditor’s claims. After this process, the property is distributed to the persons listed in the individual’s will or, in the case of an individual who has not left a will, by intestate succession.

Some of the other disadvantages of probate are the cost, delay, publicity, and possibility of will contests. Often times the cost of probating an individual’s estate exceed the cost of disposition of the estate without probate. In probate, the executor — the administrator of the will — and the attorney are entitled to compensation from the probated estate. Additionally, probate is a lengthy process and transfer of property can be much more expedient outside of probate. Property transferred via joint tenancy will have very little delay. Probate proceedings, on the other hand, can take many months to even years.

When an individual establishes a testamentary trust, however, their assets do not pass through probate but, rather, by means of the trustee distributing assets to the named beneficiaries. As mentioned above, creating a joint tenancy is an ideal probate avoidance technique.

Other Estate Planning Tools:

While wills and trusts are typically thought of as the only estate planning tools, there are a vast amount of options available when it comes to efficiently planning one’s estate. An individual can take a variety of steps to ensure their property is disposed of in a manner consistent with their wishes. Some of these options are:

  • Creating a joint tenancy or other types of co-ownership for any properties you may own individually
  • Drafting a transfer on death deed
  • Establishing life insurance policies
  • Establishing a buy-sell agreement for any business interests
  • Contributing to your retirement accounts and monitoring list of beneficiaries
  • Executing a durable power of attorney
  • Executing an advance healthcare directive

 

Simran Randhawa of Randhawa Hundal LLP is an excellent trust attorney. Simran’s knowledge and attention to detail was paramount in the preparation of my living trust.The whole process was stress-free and easy. He is very detail oriented, courteous and professional. I highly recommend him if you're looking for a Will and Trust preparation attorney.read more
Stephen Virdure
Stephen Virdure
22:07 02 Dec 17
I had to evict my tenant because she was not paying or planning to pay. I was very happy to have found Hundal LLP; I was able to get my property back. Mr Hundal was very professional and easy to reach whenever I needed a consult. He kept me informed of each step of the process. Will refer any family and friends. Also, the fees are reasonable.read more
Amal Saboul
Amal Saboul
03:36 04 Nov 17
"I am very happy with my O1 visa (Individuals with Extraordinary Ability or Achievement) approval experience with Randhawa Hundal LLP. Simran Randhawa is an exceptionally skilled Lawyer with thorough knowledge of immigration law. I was very impressed with his approach to evaluate my case with complete honesty and offer genuine advice especially when I was standing at the end of my OPT duration. He personally took time to explain me each and every step of O1 visa. He was able to ingrain confidence in me through his analysis and clear communication. He was always available to answer my questions or concerns. He made me feel like he cared about my case and understood my critical immigration situation. Without his help, it would not have been possible to secure my O1 visa. I would highly recommend Simran Randhawa to anyone pursuing their dreams to work/immigrate in the USA because of his expertise, commitment, work ethics and diligence in work." Thank you again for your exceptional service. Kirandeep K. ManiLab Manager/Plant PathologistCSP LabsPleasant Grove, CAread more
Kiran Dhami
Kiran Dhami
02:02 11 Jul 17
This was my first time evicting a tenant and they handled the case in a very professional manner. Very responsive and efficient in handling the eviction case. The overall price was reasonable as well. I would recommend these guys.read more
Varun Sharma
Varun Sharma
14:59 20 Jun 17
Randhawa Hundal LLP were knowledgeable and extremely helpful with my case. Thanks guys I will definitely be coming back for all my legal needs.read more
Ardeep Johal
Ardeep Johal
01:44 03 May 17
This was my first experience at having to evict a tenant. I was concerned about the process and lawyer fees. I cold called Randhawa Hundal, LLP and spoke to Jaspreet. Jaspreet explained everything in detail and helped me understand the reality of an outcome. He helped me make the best financial decision. I was being emotional about this eviction and was willing to spend more to get results. Even though Jaspreet could have earned more by letting me proceed as I intended, he explained why it was best to take another direction. I strongly recommend this firm.read more
fishinang
fishinang
23:20 20 Apr 17
They are very professional and knowledge attorneys. I would highly recommend them. We needed an estate plan and Simran made the process easy to understand, he answered all our questions and had our estate plan done in an extremely timely manner. Their fees are very reasonable and an overall great firm to work with.read more
Janean Fode
Janean Fode
00:05 09 Mar 17
Great service! Really dedicated and passionate about the law. Highly recommend them for anyone needing legal services!
Michelle Partridge
Michelle Partridge
21:24 03 Mar 17
All around great!! Really easy to work with and really reasonable on their pricing. Had a rental that was behind on rent, they helped me get my rent money and get my house back, I'll definitely use them again and tell my friends to use them. 100 % happy with experience with themread more
Chris Guertin
Chris Guertin
23:16 21 Feb 17
I hired Randhawa Hundal for some tax related stuff. They were really good to work with and were very professional. Jaspreet was a pleasure to work with and he was very good at answering and/or returning phone calls. He was always easy to get a hold of. He explained the process to me and got me a really good result. I was so pleased with their services that I went back to them again to have my will done. The other attorney, Simran, gave me a complete estate plan, which was way more than what I was expecting. I highly recommend this law firm and will use them for all of my legal needs !! :o)read more
Navjot Mehat
Navjot Mehat
20:21 17 Feb 17

 

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