Estate Planning | Wealth Enhancement & Preservation

Estate planning involves a trilogy of goals namely: (1)  providing for the orderly transfer of assets on death, (2) avoiding significant
transaction costs and time consumed in going through a probate, and (3) minimization of estate and income taxes associated with the event.  

A "one size fits all" approach is not possible in estate planning.  Every estate is unique in composition just as the human element and
composition of every family is different.   Therefore, the cornerstone of estate planning involves first gaining an understanding of these
dynamics and then, and only then, tailoring an estate plan which is aimed at achieving the client's goals.

Kopman Law assists in formulating estate plans for families in all net wealth groups.  Our services are tailored to be cost-effective in every
one of these groups.  

In the most simplistic of cases, we assist our clients in preparing
revocable living trusts, wills, testamentary trusts, and financial management
powers of attorney
,  as the needs of a particular client dictate.

As with the wealth transference element of estate planning, health care planning is also an important component of estate planning.  Making
known your medical wishes and, in some cases, vesting authority in family members and others for purposes of making decisions when you
cannot, brings comfort and restores peace of mind.  This is done through such devices as Advance Health Care Directives, Health Care
Powers of Attorney and Living Wills.  For critically ill patients, sometimes a "DNR" or "do not resuscitate" directive may be appropriate.   We
provide consultation on the full range of options in connection with health care decision-making as part of the estate planning process.

For higher net worth clients requiring more complex financial estate planning strategies, we provide the most sophisticated estate planning
techniques and vehicles including the following:

  • Advanced Case Design of Life Insurance for Exit (Succession) Planning and Estate Planning with Whole Life and Universal Life
    Insurance Contracts and Qualified Annuities
  • Adjunct or Precatory Letters, also known as Letters of Wishes
  • Beneficiary Defective Grantor Trusts ("BDIT")
  • Business Succession Planning and Exit Strategies - Link to Exit Planning Sub-Page
  • Credit Exemption Trusts
  • Complex Wills including those establishing testamentary trusts
  • Crummey Trusts (Insurance Trusts incorporating powers under Crummy v. Commissioner  397 F.2d 82 (9th Cir, 1968).)
  • Qualified Disclaimers and Disclaimer Trusts
  • Dynastic Trusts and other generation-skipping tax exempt trusts optimizing utilization of Generation Skipping Transfer (GST) Tax
    Exemption. Several jurisdictions have either extended or eliminated the longstanding Rule Against Perpetuities which previously limited
    the allowable lifespan of Dynasty Trusts. These are sometimes known as Qualified Perpetual Trusts
  • Estate Freezes
  • Family Business Recapitalizations
  • Family Limited Liability Companies ("FLLC")
  • Family Limited Partnerships ("FLP"); IRC Section 704(e)(1)
  • Family Office Structuring
  • Formulation of Gifting Programs
  • General and Limited Powers of Attorney for Personal Affairs and Financial Management
  • Generation Skipping Tax ("GST") Trusts
  • Gift Annuities
  • Grantor Deemed Owned Trusts (GDOT's)
  • Gifts and Sales to Intentionally Defective Grantor Trusts ("IDGT"); also known as Intentionally Defective Inter-vivos Trusts ("IDIT").  The
    term defective is a term of art meaning that provisions are included to achieve a desired result of all income and expenses being
    taxable to and deductible by the grantor.
  • Grantor Retained Annuity Trusts ("GRAT") - Example of GRAT Estate Equalizing Technique
  • Grantor Retained Unitrusts ("GRUT")
  • Intentionally Defective Grantor Trusts ("IDGT")
  • International Estate and Inheritance Planning
  • Irrevocable Trusts including Irrevocable Life Insurance Trusts ("ILIT").  The ILIT may be funded with an existing insurance policy or
    policy purchased by the trust using monies which have been gifted or loaned to the trust by settlors.  Trust can be funded with sums
    equal to annual exclusion amount using "Crummey" powers - Leveraging Income and Transfer Tax Free Growth
  • Living Wills, Advance Health Care Directives, HIPAA privacy releases or agent assignments, and DNR directives.
  • Drafting Powers of Appointment
  • Private Annuities
  • Qualified Terminable Interest Property ("QTIP") Trusts
  • Qualified Domestic Trusts ("QDOT")
  • Qualified S Corporation Trusts
  • Qualified Designated Beneficiary IRA Trusts to attain maximum income tax deferral or "stretch out"
  • Residence Trusts including Qualified Personal Residence Trusts ("QPRT")
  • Revocable Living (Inter Vivos) Trusts
  • Self Canceling Instalment Notes ("SCIN")
  • SCIN-GRAT
  • Simple and Pour-over Wills - (Although handwritten holographic wills may be enforceable in California, noncupative (oral) wills are not.)
  • Special Needs Trusts ("SNT")
  • Spousal Lifetime Access Trusts ("SLAT")
  • 2503(c) Minor's Trusts
  • Financial and Estate Planning using life insurance strategies

Where charitable gifting is an integrated estate planning focus, several different estate planning vehicles should be considered These
vehicles involve both inter-vivos and testamentary transfers and include the following:

  • Outright charitable donations designed to minimize income tax liability
  • Charitable Lead Trusts and Unitrusts; IRC Sections 170(f)(2)(B), 2055(e)(2)(B) and 2522(c)(2)(B)
  • Charitable Remainder Annuity Trusts ("CRAT")
  • Charitable Remainder Unitrusts ("CRUT")
  • Community Foundation Gift Planning
  • Donor Advised Funds
  • Net Income Make-up CRUTs ("NIMCRUT")
  • Private Family Foundations (Operating and Non-Operating)
  • Civil Law Foundations (Liechtenstein and Panama) - For international clients and more sophisticated estates.




Serving all of Orange County and Areas Adjacent Including: Estate Planning Attorney Newport Beach, Estate  Planning Attorney Aliso Viejo, Estate Planning Attorney
Anaheim, Estate Planning Attorney Atwood, Estate Planning Attorney Brea, Estate Planning Attorney Buena Park, Estate Planning Attorney Capistrano Beach, Estate
Planning Lawyer Corona del Mar, Estate Planning Attorney Costa Mesa, Estate Planning Attorney Cypress, Estate Planning Lawyer Dana Point, Estate Planning
Lawyer Irvine, Foothill Ranch, Fountain Valley, Fullerton, Garden Grove Huntington Beach, Estate Planning Atorney La Habra, La Palma, Ladera Ranch, Laguna
Beach, Laguna Hills, Laguna Niguel, Lake Forest,Mission Viejo, Newport Beach, Newport Coast, Orange, Placentia, Rancho Santa Margarita, San Clemente, San
Juan Capistrano, Santa Ana, Seal Beach, Sunset Beach, Surfside, Tustin, Westminster, Yorba  Linda
Estate Planning Practice
Kopman|Law|Advisors
1278 Glenneyre Street
Suite 304
Laguna Beach, CA 92651
LAW OFFICES OF DANIEL D. KOPMAN  P.C.