Protect The Results of Your Hard Work Your Will May Not Be Enough to Protect Your Assets
While your will is an important document to direct the distribution of many of your assets, and even provide direction as to the care of any orphaned children, a will does not offer the asset protection that can be achieved through proper estate planning. Leaving only a will, with no other means for asset transfer, also increases the time your estate will spend in probate, causing unnecessary costs and headaches for your surviving loved ones.
A Living Trust Can Help
You don’t have to grow up with a trust fund to need a good living trust. A trust is a practical and flexible legal tool designed to reduce the costs and time of probate for anyone, not just the super-rich. It can also be used to minimize estate taxes that might otherwise become due. We may recommend that you consider trusts for one or more purposes:
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Tax minimization or avoidance.
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Increased wealth transfer.
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Sharing the profits of assets among beneficiaries.
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Management of inherited assets for children or heirs of advancing age or impaired health.
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Reduction in probate expenses and time.
A trust can enhance your family’s wealth, while allowing for complete control of all assets. Family members often serve as trustees, either alone or with professional independent co-trustees. Call today for a telephone consultation to discuss if a trust is right for you 310-788-9089.
Other Tools to Protect Your Assets
Even with a living trust, your valuable assets may not be protected from creditors, especially if you are in a profession, such as medicine or rental real estate, where you may become personally liable for large cash settlements.
Family Limited Partnerships, Limited Liability Corporations, and Off-Shore Accounts can all be used to protect your wealth. Call us for a telephone consultation to discuss these options 310-788-9089.
Simkin & Associates
Proudly Serving Southern California for over 15 Years
For Real Estate, Business Law, Asset Protection, Trust, Conservatorship and Immigration needs in
Los Angeles, Ventura, and Orange Counties
Phone: (310) 788-9089
Serving Los Angeles and Southern California since 1989
Including Van Nuys, Beverly Hills, Santa Monica, West Hollywood, Culver City, Burbank, and the communities in Ventura County, Orange County, and Los Angeles County
