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Estate Planning

No matter what your age, marital status, or financial wealth, if you have assets, you should have an estate plan in the event of your death or incapacitation. When you meet with an attorney at Lankford Crawford Moreno & Ostertag LLP, they will help you decide the best way to develop an estate plan to best suit your priorities, resources, and responsibilities. Without this, your loved ones could be exposed to additional grief and expense. Our attorneys will work with you to develop an estate plan to best suit your priorities, resources, and responsibilities.

Our office serves estate planning clients throughout the Bay Area, including in Moraga, Lafayette, Orinda, Walnut Creek, Berkeley, Montclair, Danville, Alamo, Piedmont and all of Contra Costa County.

Estate Planning Expertise

Estate Planning Questionnaire

Irrevocable Life Insurance Trust

One way to avoid the taxing of life insurance proceeds at death is to establish an Irrevocable Life Insurance Trust, or “ILIT.”

An ILIT is a type of irrevocable trust that is specifically designed to hold and own life insurance policies. Once the ILIT has been set up, you will transfer ownership of your life insurance policies to the Trustee of the ILIT. Once the life insurance policy is placed in the trust, the insured person no longer owns the policy, which will be managed by the trustee on behalf of the policy beneficiaries when the insured person dies.

Once you’ve transferred ownership of the life insurance to the Trustee of the ILIT, you will have given up all of your incidents of ownership over the policies. Since you’ll no longer own the policies, the proceeds can’t be taxed in your estate when you die.

Lankford Crawford Moreno & Ostertag can assist you with an ILIT throughout all of California, including Contra Costa County, Santa Clara County, San Mateo County, San Francisco County, Marin County, and Santa Cruz County.