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Wealth Transfer Planning

Wealth transfer planning is a crucial part of estate planning. It involves deciding how you’ll distribute your wealth during your lifetime or after death. It also encompasses strategies for minimizing taxation and preventing confusion or conflict among beneficiaries.

Preparing to transfer your wealth can be a complex process that may require a lawyer’s guidance. If you’re in the San Francisco Bay area and ready to start the process, contact us at Barulich Dugoni & Suttmann Law Group. Our experienced attorneys will listen carefully to your concerns, needs and goals and help you develop a wealth transfer plan you feel confident in.

Key Considerations for a Transfer of Wealth

Before planning how you’ll transfer your wealth, it’s necessary to consider the following factors:

  • Your assets: Consider your assets and how much they are worth. Your assets may include bank accounts, real estate, investments, vehicles or anything with financial value.
  • Your goals: Determine what you wish to achieve by transferring your wealth. For example, do you want to provide for family members after you pass? Or do you wish to contribute to a cause you’re passionate about? Your goals may change over time, and a lawyer can help you create a flexible plan.
  • Your beneficiaries: Know who you want to transfer your wealth to. This may include family members, friends or charities.
  • Your advisors: Comprehensive and strategic wealth transfer planning often requires the assistance of estate planning attorneys and accountants. Consider who will be on your team to help you achieve your goals and avoid mistakes.

Wealth Transfer Strategies

Many methods are used to transfer wealth, and strategies can be combined and customized to your needs. Strategies include:

  • Creating a will: A will provides instructions on how your wealth will be distributed among beneficiaries after death. Wills may be subject to probate but are still essential documents in wealth transfer planning.
  • Setting up a trust: A trust allows another party to hold and manage various assets, such as properties and certain financial accounts. Trusts can be utilized to reduce taxes and avoid probate. Many types of trusts are available, such as revocable and irrevocable trusts. A lawyer can help you select the trusts that will benefit you and your beneficiaries most.

Our Wealth Transfer Services

We understand the importance of developing a well-structured wealth transfer plan that complies with tax regulations, ensures maximum transfer of your assets and minimizes the risk of complications. Using our expertise in estate planning and tax laws, we can help you choose an optimal strategy that considers your family, circumstances and wishes.

Our services include:

  • Will and trust planning: We can create a comprehensive will and trust plan that meets legal regulations, protects assets and reduces taxation.
  • Probate administration: We can help your family navigate the probate process and ensure your assets are distributed as you intended.
  • Trust administration: We’ll assist your designated trustee in managing and distributing assets according to California law and completing other essential steps of trust administration.
  • Business succession planning: If you own a business you’d like to pass on, we can help. We can ensure a smooth transition to a new owner or integrate it with your wealth transfer plan.
  • Tax planning: Our attorneys are tax law experts who can work with your accountant to resolve and prevent tax issues. We will also use our knowledge to help you avoid unnecessary estate taxes.
  • Real estate planning: We’ll help you plan how you’ll transfer real estate efficiently. Our lawyers have experience preventing and resolving a vast range of real estate challenges related to residential and commercial properties.

Connect With a Wealth Transfer Attorney

Whether you’re in your 20s or have recently entered retirement, the sooner you start planning your wealth transfer, the better. The lawyers at Barulich Dugoni & Suttmann Law Group are ready to help you begin the process.

The first step is to contact us. Complete our intake form or call our Burlingame office at 650-292-2900 to schedule a meeting.