Richard Mahoney Law Office

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Attorneys, Estate Planning, Probate, & Living Trusts, Family Law Attorneys

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Mon - Fri:	9:00 am - 5:00 pm

Richard Mahoney Law Office

Guardianship
A guardianship proceeding is required for minor children to supervise their custody and care until they reach the age of eighteen (18). It is a costly proceeding involving attorney’s fees, court filing fees, investigative fees, accounting fees and annual reports to the court. One of the advantages of having an estate plan is that you can avoid a guardianship proceeding for your minor children and avoid the potential cost and emotional trauma that might be involved when different family members petition the court for control of your children and your estate. In your estate plan, you can appoint a guardian for your minor children; the successor trustee of your trust is in control of your assets and is vested with the power to distribute those assets for the care and benefit of your children as you direct. This way, you have left specific directions that dictate who your children will live with and how the assets will be used for their benefit, thus avoiding the court’s intervention.

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Location

Bixby Office Park-3020

Neighborhoods

Old Ranch, Seal Beach

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Mahoney Richard Law Office Of

Mahoney Richard Law Office

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http://mahonytrust.com

https://mahonytrust.com/locations

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Attorneys, Estate Planning, Probate, & Living Trusts, Family Law Attorneys, General Practice Attorneys, Trust Companies, Wills, Trusts & Estate Planning Attorneys

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Phone: (562) 799-5513

Address: 3020 Old Ranch Pkwy, Seal Beach, CA 90740

Website: http://mahonytrust.com

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Richard Mahoney Law Office

Guardianship
A guardianship proceeding is required for minor children to supervise their custody and care until they reach the age of eighteen (18). It is a costly proceeding involving attorney’s fees, court filing fees, investigative fees, accounting fees and annual reports to the court. One of the advantages of having an estate plan is that you can avoid a guardianship proceeding for your minor children and avoid the potential cost and emotional trauma that might be involved when different family members petition the court for control of your children and your estate. In your estate plan, you can appoint a guardian for your minor children; the successor trustee of your trust is in control of your assets and is vested with the power to distribute those assets for the care and benefit of your children as you direct. This way, you have left specific directions that dictate who your children will live with and how the assets will be used for their benefit, thus avoiding the court’s intervention.

Trusts and Estates

Estate Planning
Before beginning to learn about estate planning, one must first understand the difference between state law, which concerns Probate, and federal law, which deals with Inheritance Tax. Under state law, probate is required for an estate where the gross value (as opposed to the net value) of the estate exceeds $55,425 in real property or $166,250 in titled personal property (i.e., stocks, bonds, mutual funds, bank accounts, etc.).
Wills
All estate plans listed below include a revocable living trust, pour-over wills, powers of attorney for both property and health care, living wills, a deed to transfer your home to the trust, letters and instructions with assistance in transferring other assets to your trust, community property agreement, checklist for surviving spouse and successor trustees, a certification of your trust, a “Plain English Explanation” of your entire estate plan, three (3) appointments with Mr. Mahony personally and unlimited free telephone consultation.
Trusts
Simply stated, a living trust takes the place of your Will in that it merely states who is going to receive your assets after you die. A living trust avoids probate because during your lifetime (after your sign your trust) you transfer the “title” of your assets to your name(s) as trustee(s) of your trust. Later, when you die, since you do not own your assets as an individual but rather, as trustee of your trust, the assets do not have to go through the probate “title” transferring process. Your successor trustees have the full power to transfer or sell your trust assets and distribute them according to the directions contained in your trust. You still retain total control over your assets during your lifetime. When your assets change (i.e. you sell your house or move your investments to a different location) you merely keep track of those asset changes at the back of your trust in the asset schedules-you do not need to see a lawyer to do this.
Power of Attorney
A durable power of attorney is a document where you appoint an “attorney-in-fact” to make decisions for you regarding your health and financial affairs; there are two different ones: a Durable Power of Attorney for Health Care and a Uniform Statutory Power of Attorney (for financial matters).
Probate

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