When Do I Need a Tax Lawyer? Why?

When Do I Need a Tax Lawyer? Why?

As a tax lawyer, I’m commonly asked the questions, “When Do I Need a Tax Lawyer?” or “Why Do I Need a Tax Lawyer?” Here are the answers.

You need a tax lawyer:

  • Anytime you are audited by the IRS or State Taxing Agency
  • Anytime you dispute the amount of tax asserted against you
  • Anytime there is the possibility of a criminal investigation
  • If you are starting a new business
  • If you want to change the type of entity your business is currently operating under
  • If you have questions about foreign accounts, foreign real property, or other foreign assets
  • If there are complex estate issues in your estate plan

Why do I need a tax lawyer?

  • It is vital to your personal finances and the health of your business to obtain competent legal representation as early as possible.
  • Failure to do so may result in missed statutory deadlines, as well as the imposition or accrual of additional penalties and interest.
  • If a taxpayer does not have the present ability to pay their tax in full in one lump sum payment, they need someone to advocate for them to the fullest to avoid missed deadlines and options for payment.
  • To make sure you are compliant and to keep you compliant.
  • A tax lawyer can listen to your needs and concerns and advise you on what is best for your family, your business, and your legacy.
  • All attorney-client communications are privileged and not subject to disclosure.

 

Walnut Creek’s Tax Lawyer Christina Weed

If you are looking for a tax attorney in the East Bay Area, including but not limited to, Walnut Creek, San Ramon, Danville or Pleasanton, contact Christina Weed at Mendes Weed, LLP today.

We work with clients in San Francisco, the East Bay, and throughout the United States. As a licensed attorney with an LL.M. in Taxation from the University of San Diego and a Bachelor’s Degree in Accountancy, Christina offers a unique combined focus on Trusts & EstatesTax LawTax Litigation, and Business Law. Christina is Chair of the Tax Section of the Contra Costa County Bar Association and is also a member of the Estate Planning Council Diablo Valley and the Tri-Valley Estate Planning Council.

Disclaimer: The tips and materials provided on this page are for informational purposes only, offered as public service. No information on this website should be considered legal advice or used as a substitute for legal advice. For legal advice, you should contact an attorney directly.

SuperLawyers-RisingStars
Best of the East Bay Attorneys
Lisa Janine MendesReviewsout of 5 reviews
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Christina Weed - Taxation Law Specialist
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Walnut Creek Main Office

1990 N. California BLVd.
Suite 1020
Walnut Creek, CA 94596

(925) 390-3222

San Francisco Office

95 Third Street
2nd Floor
San Francisco, CA 94103

(628) 216-5558

Oakland Office

66 Franklin Street
Suite 300
Oakland, CA 94607

(510) 822-2770

San Jose Office

3031 Tisch Way
110 Plaza West
San Jose, CA 94607

(408) 707-1667

How to Properly and Carefully Assist the Elderly with Their Estate Planning

How to Properly and Carefully Assist the Elderly with Their Estate Planning

It’s not uncommon for clients to come to me with questions and concerns regarding their elderly parents. Clients want to know how to address estate plans with their elderly parents, a topic that can often be uncomfortable for both parties.

In other cases, clients are worried about elderly parents who have the onset of dementia or Alzheimer’s and may or may not have an estate plan.  Wanting only the best for their parents, these clients want to know what protections their parents have and if they can still take steps to create a viable estate plan.

Problematic Estate Issues with Elderly Parents

With age comes many problems that can be a set-back to a well-intentioned estate plan. Memory loss and confusion can leave elderly parents without knowledge of what assets they have or where their money or records are kept. In the case of an unexpected crisis that leaves an elderly parent disabled, forgetful, or unable to clearly give directions or have their orders followed through, the child or children face a huge burden. Without knowing what assets, records, or legal documents their elderly parents have in place, the rest of the family is left guessing, surrounded in chaos, confusion, and anxiety.

A Well-Executed Estate Plan Can Eliminate These Worries

 An estate plan that is executed by an experienced estate-planning attorney follows the orders of the elderly parents.  It clearly establishes what happens to the estate, eliminating any guessing, arguing, or confusion and relieving stress and hassle for the younger generation.

What Happens When an Elderly Parent Does Not Have an Estate Plan?

In the event that an elderly parent fails to execute an estate plan, the surviving offspring may have to hire a lawyer and get a court order to access parent accounts.  This is a costly and time-consuming process that ties up the estate and often incurs taxes that could otherwise be avoided by having an estate plan.

How to Approach Your Parents About Creating an Estate Plan

 When discussing your elderly parents’ state of affairs, it’s best to follow these guidelines:

  • Schedule a time to talk to your parents and stick to it
  • Choose a time when your parents are at ease and open to discussion
  • Realize your parents’ objections to discussing their estate, which may include the following:
  • Fear of aging
  • Privacy over finances
  • Fear of loss of security over finances
  • Loss of financial independence
  • Reassure parents that you are not trying to take control over their finances or lives
  • Reinforce to your parents that you respect their choices and want to fulfil their wishes by helping them create an estate plan
  • Understand their reluctance to want to plan for the future and explain that in an emergency, not being prepared with an estate plan can be detrimental
  • Offer to go with them to see an estate planning attorney

Questions to Ask Your Elderly Parents About the Future of Their Estate

  • Have they done estate planning?
  • Who is their attorney? Get contact name and number.
  • What legal documents do they have in their possession and where are they located?
  • Where are their passwords and account numbers? Please let them know you will only use them in the event of an emergency and they will still maintain their privacy over this information.
  • Is there a will, trust, or durable power of attorney for finances and healthcare directive?
  • May you speak with their attorney?

Be Prepared with an Experienced Estate Planning Attorney

Mendes Weed, LLP has been helping clients and their elderly parents create, modify, and execute estate plans that are legally binding.  This process eliminates hassle, confusion, and expenses in the event of a loss and makes sure the loved one’s wishes are fulfilled.

If you or a loved one in the SF Bay Area want more information about estate planning, please give Mendes Weed, LLP a call at 925-390-3222.  We are here to help. Our office is located in Walnut Creek and we serve clients in Walnut Creek, Alamo, Danville, Blackhawk, Pleasanton, Livermore, Solano Counties, Alameda, San Mateo, Santa Clara, and Sacramento.

Disclaimer: The tips and materials provided on this page are for informational purposes only, offered as public service. No information on this website should be considered legal advice or used as a substitute for legal advice. For legal advice, you should contact an attorney directly.

 

 

SuperLawyers-RisingStars
Best of the East Bay Attorneys
Lisa Janine MendesReviewsout of 5 reviews
Walnut Creek Chanber of Commerce logo
Christina Weed - Taxation Law Specialist
lawyers of distinction badge 2020

Walnut Creek Main Office

1990 N. California BLVd.
Suite 1020
Walnut Creek, CA 94596

(925) 390-3222

San Francisco Office

95 Third Street
2nd Floor
San Francisco, CA 94103

(628) 216-5558

Oakland Office

66 Franklin Street
Suite 300
Oakland, CA 94607

(510) 822-2770

San Jose Office

3031 Tisch Way
110 Plaza West
San Jose, CA 94607

(408) 707-1667

[Video] Preparing and Executing or Amending Estate Plans

As a tax and trust lawyer with experience in litigation, I can help my clients navigate different estate planning situations.

As an Estate Planning Lawyer in Walnut Creek, I can:

  • Prepare, execute and amend estate plans
  • Help families navigate through difficult or uncomfortable times
  • Facilitate communication between family members
  • Advocate for my clients to make sure they receive updates and information
  • Help resolve wrongful actions by a trustee
  • Clear up issues after a loved one’s passing
  • Perform legal actions such as a petition to the courts
  • Advise against elder abuse

Looking for an estate-planning attorney in Walnut Creek? 

Get in touch with Mendes Weed, LLP, your trusted, experienced estate-planning law firm today!

Christina Weed has worked with clients in San Francisco, the East Bay, and throughout the United States. As a licensed attorney with an LL.M. in Taxation from the University of San Diego, and a Bachelor’s Degree in Accountancy, Christina offers a unique combined focus on Trusts & EstatesTax LawTax Litigation, and Business Law. Christina is Chair of the Tax Section of the Contra Costa County Bar Association and is also a member of the Estate Planning Council Diablo Valley and the Tri-Valley Estate Planning Council.

Disclaimer: The tips and materials provided on this page are for informational purposes only, offered as public service. No information on this website should be considered legal advice or used as a substitute for legal advice. For legal advice, you should contact an attorney directly.

 

SuperLawyers-RisingStars
Best of the East Bay Attorneys
Lisa Janine MendesReviewsout of 5 reviews
Walnut Creek Chanber of Commerce logo
Christina Weed - Taxation Law Specialist
lawyers of distinction badge 2020

Walnut Creek Main Office

1990 N. California BLVd.
Suite 1020
Walnut Creek, CA 94596

(925) 390-3222

San Francisco Office

95 Third Street
2nd Floor
San Francisco, CA 94103

(628) 216-5558

Oakland Office

66 Franklin Street
Suite 300
Oakland, CA 94607

(510) 822-2770

San Jose Office

3031 Tisch Way
110 Plaza West
San Jose, CA 94607

(408) 707-1667

[Video] What to Expect at Your Estate Planning Meeting

At Mendes Weed, LLP, we can help you feel at ease planning for major life events.

If you have recently gotten married, had children or grandchildren, or are concerned about elderly parents, now is the perfect time to connect with us and make an appointment.

Here’s What to Expect at Your Estate Planning Meeting

At our initial meeting, I make it a point to listen carefully to my clients and their concerns and identify goals for their estate plan.

Once the Estate Plan is in place and executed, my clients feel like a huge burden is lifted and have the peace of mind knowing their estate plan is complete and they’ve done something great for their family.

SuperLawyers-RisingStars
Best of the East Bay Attorneys
Lisa Janine MendesReviewsout of 5 reviews
Walnut Creek Chanber of Commerce logo
Christina Weed - Taxation Law Specialist
lawyers of distinction badge 2020

Walnut Creek Main Office

1990 N. California BLVd.
Suite 1020
Walnut Creek, CA 94596

(925) 390-3222

San Francisco Office

95 Third Street
2nd Floor
San Francisco, CA 94103

(628) 216-5558

Oakland Office

66 Franklin Street
Suite 300
Oakland, CA 94607

(510) 822-2770

San Jose Office

3031 Tisch Way
110 Plaza West
San Jose, CA 94607

(408) 707-1667