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The Benefits of a Living Trust. Most people think that preparing a last will and testament is enough preparation in the event of death. There are, however, other ways to plan for this and other eventualities. Setting up a living trust is one of these ways.

What is a living trust? It is simply the act of putting your properties in a trust that is revocable by the trust grantor. It helps you plan for the possibility of disability or incapacity, as well as the inevitability of death. It also lets you avoid the lengthy and expensive process of probate.

The main concern when it comes to probate is expense, especially in places like Valencia, California, where probate expenses can range from 4-8% of the gross value of one’s assets. Having a living trust can help you avoid these costs. Of course, setting up a trust can be costly as well. One would have to consult with a good living trust lawyer before setting up the trust, which means that he could rack up attorney’s fees. The cost of setting up a trust is, however, negligible as compared to the cost of going through probate court.

Time is also a major factor that makes living trust more attractive than probate. A probate normally takes at least six months whereas facilitating the distribution of properties held in a living trust only takes the trustee a few weeks to complete.

Perhaps most important for some individuals is the privacy that a living trust guarantees. Probate court records, much like any court document, is open to the public while living trust records are held privately. A living trust is outside the control of probate court and the trustee is not required to report to the court in the process of distributing the grantor’s assets.

Mortensen Law
Tax, Trust & Estate Attorneys, P.C.
24300 Town Center Drive Suite 390
Valencia, CA 91355
(661) 799-8035
(661) 799-8838 fax

When your personal assets or personal independence is at stake, it is pretty obvious that you need legal Tax help from a reputable and proficient California Tax Attorney. Even though, it is a bit discouraging to know the fact that you can end up spending hundreds of thousands of dollars in asking legal tax assistance from a California tax lawyer, it is actually a real wise investment that can tremendously save you time, money and effort. Also, it can help you keep your properties from these fraudulent individuals and/or prevent criminal sanctions.

Therefore, in instances where you are being bothered by a certain tax problem that you cannot resolve by yourself, it will certainly never take less of you as a person to consult a California legal tax expert. Remember that it’s always better to look for a tax lawyer sooner than later. After all, these tax lawyers also need time to prepare before tax deadlines sneak up. After finding one, you’ll soon realize that it’s a lot easier to take a rest after talking to an experienced California tax attorney.

Businesses can avail the tax services of these tax lawyers for legal advice in almost all kinds of situations. So, if you aren’t sure of what your legal tax rights are, now can be the best time for you to obtain a tax attorney to evaluate your situation. Because even if you can get through a legal tax problem without the aid of a legal tax specialist, you must always keep in mind that it’s still better to find someone who can represent your interests in your search for the truth and justice.

We suggest you contact the California Tax Attorney, Daniel Mortensen for your tax needs.

Mortensen Law
Tax, Trust & Estate Attorneys, P.C.
24300 Town Center Drive Suite 390
Valencia, CA 91355
(661) 799-8035
(661) 799-8838 fax

In this sometimes cruel world, we can consider the tax lawyers as our knights in shining armor especially during legal tax proceedings. Do you agree with me? Definitely, I think so. However, I must say that being a tax lawyer in California is really never easy. One must have the expertise and experience in efficiently representing a client regarding a legal tax problem. Also, he must have at least gained a reputable name in the legal tax genre to also gain the trust and respect from those people who need their legal tax advice.

As we all know, a California tax lawyer specializes in a certain field of the tax law and handles a wide range of legal matters that can vary due to several factors. This is what makes the legal tax profession a truly complicated and challenging task. Private individuals and business people depend on their tax lawyers to understand their legal rights and protect their financial interests. Having a good legal advice can help people in complying with and going over the complex network of government tax rules and tax regulations.

We suggest you contact the Law Offices of Attorney Daniel Mortensen for your California Taxes and California legal needs in Valencia, California.

Mortensen Law
Tax, Trust & Estate Attorneys, P.C.
24300 Town Center Drive Suite 390
Valencia, CA 91355
(661) 799-8035
(661) 799-8838 fax

Do you have a disagreement with the IRS over taxes due? Have you inherited a difficult-to-value asset on which you owe an unreasonable amount of estate tax? Were you audited and received a notice of deficiency? Did you get caught in a tax trap and owe a huge debt to the IRS you cannot possibly pay?

We can help you:
• Assess the true value of the asset in question
• In many cases, lower your debt by identifying valuation discounts
• File and advocate on your behalf in an IRS appeal
• Petition the federal tax court, or
• File an Offer In Compromise with the IRS

Valencia Law Office of Daniel Mortensen is a Board Certified Tax Attorney who has been assisting clients with complex tax problems in Southern California since 1996. He also has a post-doctoral degree, LL.M., in tax law.

Tax Law Valencia California
In other words, estate tax applies to any assets you leave to your children, siblings, friends and even parents. Under current law, until 2008, everyone receives a $2 million federal estate tax exemption. This means that no estate tax is due on the first $2 million left regardless of recipient. There are some caveats, however, that make the application of this exemption more complicated than it sounds. For example, the $2 million includes any death benefits on life insurance owned by the decedent or where the decedent had any of several specific rights in connection with the policy.

Mortensen Law
Tax, Trust & Estate Attorneys, P.C.
24300 Town Center Drive Suite 390
Valencia, CA 91355
(661) 799-8035
(661) 799-8838 fax