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Living Trusts and Living WillsLos Angeles Estate Planning LawyersPlanning for the future doesn't have to be overly complicated or time consuming. In fact, planning through living trusts and living wills can save significant time, money, and worry in the future. At Wellington Y. Kwan, Inc., we help individuals and families understand the benefits of estate planning, living trusts, and living wills. To schedule a free initial consultation in our Los Angeles, California law office, call us at (213) 382-1888 or contact us online. Living TrustsA living trust is a legal document that is set up during life and holds an individual's property and assets. A trustee is appointed to manage the trust, but the actual assets are owned by the trust. Trustees are able to manage the property, move assets in and out of the trust, and make changes as needed. When the holder of the trust dies, his or her property is distributed according to the terms of the trust. One of the greatest benefits of a trust is that it avoids or minimizes probate, which can become a costly and time-consuming process. After an individual dies with a will, his or her estate is settled through probate. Since a living trust owns property and assets, the process of probate is avoided. Additionally, our attorneys can advise you on ways to reduce estate taxes. Living WillsA living will is a legal document that details the wishes of an individual regarding life-prolonging medical treatments. If an individual is unable to make his or her own decisions regarding health care preferences, a living will is referenced. Although no one wants to think about being in a situation where a living will would be referenced, it is important to plan for unpredictable events. At Wellington Y. Kwan, Inc., our lawyers can help you draft a living will that expresses your unique concerns and preferences. For information on living trusts, living wills, and how to avoid probate, call our lawyers at (213) 382-1888 or contact us online. We offer free initial consultations. |
