You’re likely to be sued sometime in your life. What if?

If you have any significant amount of money you will likely be sued. About 24 million lawsuits are filed in the Unites States every year! You are more likely to be sued than to have a stay in the hospital. Typically, a homeowner’s insurance covers up to $1M; an auto accident insurance policy covers far less and must be purchased separately. If the judgment against you is greater than the amount of insurance, the other party can go after your other assets and garnish wages. You may lose your home and other investments. With the high cost of health care and rehabilitation, the liability insurance will not last long. Irrevocable trusts, Off-shore trusts, Family Limited Partnerships, Qualified Personal Residence Trusts, Spendthrift Trusts, when set up legally, protect your assets.

Contact me to protect your assets at (408) 293-0880 or visit my Web site to learn more about the services I provide for asset protection.

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Things you MUST know about WILLS and TRUSTS

The following Estate Plan Summary table illustrates the very minimum considerations that must be given in planning one’s estate. The subsequent “Don’ts and Do’s” slides warn of the main pitfalls to be avoided.


What You Need to
No Basic   Living AB QTIP
Will Will   Trust Trust Trust


Permits you to select the beneficiaries of your estate No Yes Yes Yes Yes
Permits you to select the executor of our will No Yes Yes Yes Yes
Permits you to select the trustees of our trust No NA Yes Yes Yes
Permits you to select the guardians for our children No Yes Yes Yes Yes


Avoids the time-consuming and expensive probate process No No Yes Yes Yes

Timing of Distributions

Permits distribution of assets in stages rather than outright at the age of 18. No No Yes Yes Yes


Prevents conservatorship of estate owner
Protects beneficiaries’ assets from creditors
No No Yes Yes Yes

Estate Taxes

  No   No   No   Yes    Yes
Assists married couples in reducing estate taxes No No No Yes Yes

Asset Preservation

Allows the first spouse to die to name the ultimate to name beneficiaries of his or her assets while permitting the surviving spouse to utilize the assets and while still deferring estate taxes

No No No No Yes

These are bare minimum consideration that need to be given to an estate plan. This is NOT a legal advice. See assistance of qualified attorney.

Don’ts Of Estate Planning

Don’t Die intestate (no papers….at least 30% goes to others)

Don’t Die With a Will Only (about 4+% of the gross goes to others)

Don’t Die Owning Life Insurance Policy (added to your estate)

Don’t Die Without a Health Care Directive (end of life costs)

Don’t Die Owning Property in Joint Tenancy (capital gains)

Don’t Live Without a Durable Power of Attorney (competency)

Do’s Of Estate Planning

  1.  Make an Integrated Estate Plan
    • Pour Over Will
    • Revocable Trust
    • Health Care Directive
    • Durable Power of Attorney
    • Guardianship
  2.  Change the Ownership of Your Life Insurance Policy
  3.  Title All Real Property/Other Assets in Trust Name
  4.  Be Charitable
  5.  Consider Disability Insurance
  6.  Consider Long Term Health Care Insurance
  7.  Consider Irrevocable Life Insurance Trust  (ILIT)

This information is not a legal advice but is provided for informational purposes only. Seek qualified legal counsel to address your specific situation.

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