Los Angeles Law Offices

What Does An Estate Planning Attorney Do?

An estate planning attorney doesn’t only help assist with a testament and last will. They also specialize in estate planning, where they help create living trusts and make a plan to avoid estate taxes. Estate planning lawyers will also be able to assist in developing powers of attorney as well as health care directives, in which they will arrange for another person to handle your case if there is an incident where one becomes mentally incapacitated. This will allow the attorney to have a backup plan in regards to their client’s affairs. With years of legal experience, an attorney will know how to counsel their clients with setting up and preparing their affairs in case of an eventual death.

Your Estate Planning Attorney Should…

  • Be someone who has shown complete devotion to their practice of this area of the law
  • Feel comfortable with the intimate details pertaining to your life so the both of you  can meet and succeed the expectations of your plans
  • Be up to date on your states current laws.
    • Make sure your attorney has not been keeping up with the appropriate knowledge. If not, then the court can see your estate plan as invalid.

There’s a High Price

Don’t be alarmed. However, you will be paying a much higher price than usual when it comes to this area of legal counsel. Remember that you’re paying for the knowledge that your lawyer has & all the skills they’ve gained over the years. If you work with an attorney with limited experience in estate planning, you can plan on them selling you a revocable living trust only.

Contact Estate Planning Attorney Lakewood

Be sure to take your time when finding a credible estate planning attorney. Take time to explore our services and stop by so we can see what benefits you the most.

Why You Need An Estate Plan

There are many reasons as to why you should get a head start with creating an estate plan with your attorney. Below are the top reasons why we think you should get one. When planning through the Law Offices of Lawrence H. Nemirow, you’ll be assisted in the best way possible.  

Having an Estate Plan to Protect Your Beneficiaries

  Typically, one’s goal is to protect minor children, and protect adults in their lives from negative influences, negative decisions, and negative future possible scenarios such as divorces and credit problems. When it comes to minor children, in all states, there are laws that necessitate a guardian to watch over their needs as well as their finances until they turn the legal age of 18. Depending on the state, the legal age may be 21. Now if the beneficiary is legally an adult and has shown no responsibility when it comes to managing money, or has a significant other that will consume the beneficiaries money, then a separate estate plan can be made to protect them, as well as others.  

Avoiding Probate 

  Many start looking for an estate planning attorney to avoid probate. Probate is a long process of creating and authenticating one’s last will and testament. There are many stories told by friends, family, and acquaintances where the probate process has left them feeling uneasy.    

Avoiding Trouble

  Usually, people start realizing they need to start making plans with an estate planning attorney when they see someone they are close to going through an experience that was seen as wasteful in terms of time and money all due to one’s failure to create an estate plan.  

Protecting Assets From Creditors

  More than just wanting to avoid stress, many have chosen to seek advice from an estate planning attorney to protect their assets from unseen creditors. It’s important to have a plan for protection right away, because once a lawsuit is around the corner, unfortunately at that point, it’s already too late. In order to be prepared, a client and their attorney should come up with a couple estate plans that will financially benefit the client during their lifetime, and their beneficiaries after the client’s death.  

Minimize Estate Taxes

  What drives people to get estate plans put in place are due to the loss of an estate because of payment of state/federal or inheritance taxes. There are basic steps married couples can do to minimize or even get rid of estate taxes. In order to do so, specific trusts would need to be created as part of their revocable living trusts. Essentially with advanced techniques from an attorney, it is possible to have the estate or inheritance tax completely go away.

WHAT YOU CAN DO IF AN INSURER IMPROPERLY REFUSES TO PAY

You faithfully pay your premiums on time. Each year you renew your policy praying that you will never have to file a claim. Then something awful happens that requires you to notify your insurance company of a covered loss that could cause you to lose all of your hard earned assets. You rightfully expect the insurance company to honor the policy provisions and pay your losses or defend you in court. Instead of paying right away, the insurance company refuses to pay, or delays in making payment. You may be forced to pay out of your pocket for legal fees and judgments that should have been paid by the insurer. Worst case is that you can be forced into bankruptcy or lose a substantial part of your assets. Earlier in this century, the only remedy against the insurance company was to file a breach of contract claim against the insurer. The insured, if the insured were to win, would be to receive only what the insurer promised to pay in the policy. The insurer was not responsible for punitive damages or liability for the insured’s emotional distress. Today, the courts of California treat these unfair claim practices as a tort and give the insured the opportunity of recovering tort remedies against the insurer for breach of the implied covenant of good faith and fair dealing. While most causes for breach of the covenant still lies in contracts, an exception can be made under contracts involving a “special relationship”, characterized by elements of public interest, adhesion, and fiduciary responsibility. The insurance contract contains all of these elements. At the first sign that your insurer is improperly refusing to pay, or is delaying retaining an attorney on your behalf, consult with an attorney who practices in insurance law. The faster you advise your insurer that you are willing to pursue your legal remedies, the faster your insurer will honor its obligations under the contract. To contact me, you may email me at nemirow@aol.com, find me at www.nemlawyer.com, or call me at 562-799-1379, to discuss the particulars of your concerns or case.
Los Angeles Law Offices

Duties Of Agents And Brokers

Are you aware of the legal duties of your insurance agents or brokers?

Insurance Agents Duties

Your insurance agent has to perform the following duties on your behalf:
  • When you notify your agent or broker that you or your business acquired a new vehicle he or she may be liable for failure to advise you that the vehicle may not be covered by your insurance
  • Your broker may be personally liable for failing to recognize and correct gaps between your primary and excess policies.
  • Your broker has a duty to call your attention to any clauses in claims made policies if you give notice of a potential claim occurring during the policy period.
  • Your agent or broker has a special duty to respond to your inquires regarding sufficiency of insurance coverage.
  • Your agent or broker is liable to you if he or she misrepresents the nature, extent or scope of coverage, especially if he or she held themselves out to you as having expertise in the type of insurance you are seeking.
  • Your agent or broker may be liable to you or your business for failure to advise you about cancellation or renewal of policies except where non-payment of premium is involved.
  • Your agent or broker may be liable to you or your business for failure to obtain coverage requested by you.
  • Your agent or broker has a duty to investigate a non-admitted insurers financial strength before recommending placement of insurance with that insurer.

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Contact your insurance attorney, business attorney or risk manager if you believe your agent or broker breached any of these duties.
Los Angeles Law Offices

VALUE OF A RISK MANAGEMENT CONSULTANT AUDIT

Over my 39 years as a risk manager and risk management consultant (in addition to my past sixteen years as an attorney) I have learned that when a company has a long harmonious relationship with their broker the company may feel that the broker is part of the corporate family, and as part of the corporate family may not be able to render a truly impartial, objective verdict on the insurance programs. As a matter of fact, I have had agents and brokers recommend the use of an independent consultant to either get a fresh slant on a problem or opportunity, or to get an endorsement or critique on the way the broker is handling the program so that the brokers recommendations can be validated or improved upon. That is why insurance and risk management audits are performed by individuals such as myself or companies that are engaged exclusively in risk management consulting activities. An independent risk management consultant does not steer programs to any one broker and should never taken a commission on any insurance program they recommend. A full scale audit should:
  • analyze exposures to loss and determine what risks should be eliminated, reduced, insured, self-insured or not insured at all;
  • independently evaluate the effectiveness of the present insurance program in terms of the protection afforded, services provided and cost;
  • consider possible alternatives such as deductibles, retrospective rating, self-insurance and other methods of improving cash flow:
  • evaluate management’s attitude toward loss control and the effectiveness of current loss control programs;
  • review the administration of the risk management function and insurance program;
  • help establish a formal risk management policy;
  • provide a written report indicating my findings and making recommendations relative to the areas that appear to be in need of attention.
The information required by a risk management consultant will include information related to:
  • corporate structure – subsidiaries, divisions, etc.
  • structure of management – scope of responsibility, authority, etc.
  • management philosophies, polices, procedures, etc.
  • risk management policy
  • types of operations other than hotels if they exist
  • significant events involving risk management in recent years
  • loss prevention programs
  • loss control programs
  • prior loss experience – insured and uninsured
  • copies of contracts affecting risk management
  • administration of the risk management function
In addition a risk management consultant will need copies of all current insurance policies, endorsements, pertinent correspondence, rating plans, premium adjustments, etc. The Law Offices of Lawrence H. Nemirow can provide risk management audits for legal or insurance matters. Contact me by calling 562-799-1379 or send me an email at nemirow@aol.com.

CLIENT TESTIMONIALS

  • I finally got around to making the “estate planning” phone call after many decades of procrastination. I found Lawrence via Avvo and Yelp reviews, and he was very responsive to all my questions about estate…

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ABOUT OUR FIRM

We Specialize In Estate Planning, Probate, Wills And Trusts, Insurance Law And Business And Corporate Law.

I was licensed to practice law in the State of California on June 6, 1996. I then formed The Law Offices of Lawrence H. Nemirow, PC to serve communities of Los Angeles County and Orange County with their legal needs. I am licensed to practice before all of the Superior Courts in the State of California, the U.S. District Court for the Central District of California, the U.S. District Court for the Southern District of California, and the United States Court of Appeals for Veterans Claims.

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(562) 799-1379 (562) 799-1377 lhnemirow@gmail.com