YAHNIAN ESTATE PLANNING
The Estate Planning Attorney/CPA/CFP® Advantage℠
ESTATE PLANNING & ADMINISTRATION SERVICES
D. STEVEN YAHNIAN, ESQ
Attorney/CPA/CFP®/JD/LLM (Tax-NYU)/CERTIFICATE (Tax-UCLA)/BS Accounting (USC)
Certified Specialist by California State Bar Board of Legal Specialization:
– Estate Planning, Trusts and Probate Law
ESTATE PLANNING & ADMINISTRATION SERVICES
“Unless (prepared for), there is uncertainty as to where (your) assets and liabilities will end up when (you) die. The best way to eliminate some of that uncertainty is by having a properly prepared estate plan that incorporates planning for the accumulation, protection, and disposition of wealth.” –Dalton, Estate Planning
“There is no ‘one-size-fits-all’ estate plan or estate administration process. Many plans and planning tools work well for a majority of clients. Some work well for many clients. Others work well for only a few. Only an experienced attorney knows the difference and how to design, prepare, implement and operate a customized estate plan or how to conduct an estate administration appropriate for a given client.” STEVE YAHNIAN, Attorney/CPA/CFP, Yahnian Law Corporation
Estate Planning is a 4-step process:
- First, is:
- ascertain client objectives;
- gather information;
- review client answers to estate planning questionnaires;
- review documents;
- ascertain and distill relevant facts;
- organize facts,
- factual and legal analysis,
- Estate Planner written opinion, blueprint and recommendations.
- Second, is plan preparation.
- Third, is plan implementation; and
- Last, is plan monitoring following implementation.
Who Should have an Estate Plan?
We recommend that everyone have an estate plan. Why is this?
- To protect your home and other assets
- To protect and ensure the succession of your business
- To protect your spouse
- To protect your children
- To protect other persons you care about
- To guarantee the right person will have guardianship if your child or children are orphaned
- To plan for incapacity
- To plan for death
- To minimize estate taxes and other transfer taxes
- To minimize income taxes
- To avoid the costs and delay of probate
- To control how and to who will receive inheritance
- To avoid having the state inherit your assets
- To provide protection of your assets against the IRS
- To provide protection of your assets from creditors
We provide a wide-range of customized estate plans. Each of the plans we prepare is tailored to client objectives and circumstances. One objective is to minimize tax consequences. Another includes the desire to avoid the cost and delay of probate. Finally, the design is to insure your assets go to who you want them to go to as well as secure your legacy. During our initial consultation, we listen carefully to your objectives, concerns, and unique circumstances. We will advise you on various types of estate planning documents, such as Trusts, Wills, Powers of Attorney, Advance Health Care Directives, Property Agreements and Family Companies.
The transfer of wealth from generation to generation must be carefully planned. Estate Planning law has many intricacies. Having an experienced trust and estate attorney help review your personal and business financial background is integral to creating an estate plan that supports your vision for the future. Estate planning is a necessity at all stages in life.
- WHAT IS ESTATE PLANNING?
- WHAT IS ESTATE ADMINISTRATION?
- TRIPLE LICENSES
- ESTATE INFORMATION RESOURCE
- CLIENT REVIEWS
Estate planning is the process of anticipating and arranging, during a person’s life, for the management and disposal of that person’s estate during the person’s life and at and after death, while minimizing gift, estate, generation skipping transfer, and income tax. Estate planning includes planning for incapacity as well as a process of reducing or eliminating uncertainties over the administration of a probate and maximizing the value of the estate by reducing taxes and other expenses. The ultimate goal of estate planning can be determined by the specific goals of the client, and may be as simple or complex as the client’s needs dictate. Guardians are often designated for minor children and beneficiaries in incapacity. –Wikipedia
Estate Planning also involves planning for Protecting Assets, Postmortem Asset Structures and Management as well as Implementing the Estate Plan. –Steve Yahnian
Another commentator states: “Estate planning is broadly defined as the process of accumulation, management, conservation, and transfer of wealth considering legal, tax, and personal objectives. Estate planning is planning in anticipation of a person’s inevitable death. The goals of estate planning are the effective and efficient transfer of assets. An Effective Transfer occurs when a person’s assets are transferred to the person or institution intended by the transferor. An Efficient Transfer occurs when transfer costs are minimized consistent with the greatest assurance of effectiveness. Some estate planning experts define estate planning more narrowly to include only conservation and transfer, ignoring the accumulation factor in the broader definition above.” Dalton, Estate Planning
When a person dies, all of his or her possessions – real estate, money, stocks, personal belongings, etc. – become a part of his or her estate. Estate administration refers to the process of collecting and managing the estate, paying any debts and taxes, and distributing the remaining property to the beneficiaries and/or heirs of the estate. The beneficiaries of an estate are determined by will, and if there isn’t a will, by the intestacy (which means dying without a will) laws of each state. The beneficiaries of a trust are determined by the Trust.Whenever a person dies, his or her estate needs to be collected and managed. Estate administration involves gathering the assets of the estate, paying the decedent’s debts, and distributing the remaining assets. When someone passes away, his or her estate often goes through a court-managed process called probate or estate administration where the assets of the deceased are managed and distributed. If the decedent owned his or her assets through a well drafted and properly funded living trust, it may be that no court-managed administration is necessary. Instead, similar to a will probate, the living trust will be administered. The length of time needed to complete the probate of an estate or living trust administration depends on the size and complexity of the estate and the local rules and schedule of the probate court, tax laws and other applicable laws.
Steve Yahnian has handled a substantial number of estate matters over the years. He has specialized in preserving and increasing client wealth, counseling on business succession, protecting client assets and minimizing their taxes.
Along with his legal credentials, Mr. Yahnian also holds a Master's of Law in Taxation, as well as in Estate Planning, Trusts and Probate Law.
He has extensive experience helping his clients devise strategies to mitigate their estate's tax liabilities in an effort to preserve more of their wealth for future generations.
He is also well-versed in preparing important tax planning documents such as family limited partnerships, family LLCs, family Corporations, Management Corporations, Irrevocable life insurance trusts, Qualified personal residence trusts, Charitable remainder and Charitable lead trusts, Grantor trusts and Special needs trusts.
Mr. Yahnian also provides Asset Protection planning to his clients.
Aside from estate planning, Mr. Yahnian also provides general counsel and support to business owners for matters, including entity formation, buy-sell agreements, partnership and shareholder agreements, business succession, tax-free exchanges and more.
His separate accounting practice provides him with experience as a California CPA. That experience serves him well as he works with his clients' other accountants, if any, and their financial advisers to evaluate their business decisions. He also conducts financial due diligence in an effort to structure and negotiate transactions with the objective of achieving the most favorable outcome possible.
Mr. Yahnian represents a broad constituency of individuals, private business owners, business executives, and landowners in all aspects of estate planning, estate and trust administration, business planning and tax planningEXPERTISE
- Preparation of revocable trusts, wills, durable powers of attorney and advance health care directives
- Taxation planning, including estate, income, and gift tax
- Preparation of tax planning documents, including irrevocable life insurance trusts (ILITs), grantor trusts, qualified personal residence trusts (QPRTs), charitable remainder trusts (CRTs), charitable lead trusts (CLTs) and special needs trusts.
- Advice and counsel regarding business succession planning, including formation of family limited partnerships and family limited liability companies
- Advice and counsel to successor trustees regarding trust funding and asset allocation, estate tax returns, and distribution of assetsBecause of his experience as a Certified Public Accountant, Mr. Yahnian is able to work closely with CPAs in evaluating business decisions, structuring and negotiating transactions and conducting financial due diligence.