To ensure loved ones are well taken care of if unforseeable events ever occur it is best to develop a living trust. Essentially a living trust works as a written legal document through which assets are placed into a trust for your benefit during your lifetime and then transferred to designated beneficiaries at your death by your chosen representative, called a “successor trustee.” While there is definitely a necessity to develop a living trust most aren’t aware of at what point financially they should develop one.
Hart, Mieras & Morris (HMM Legal) helps solve this issue by stating that a living trust should be drawn if your family meets any of the following conditions:
- they own real estate worth $50,000 or more
- there are children or dependents living in the same household
- they have $150,000 worth of assets
HMM Legal knows that people want to protect what they’ve worked so hard to earn as well as make preparations to help their family, and for this reason they will be providing a free seminar on Developing A Living Trust on Tuesday, June 20, 2017 at 3:00 PM and again at 7:00 PM at Azusa Pacific University within the LAPC Board Room.
For more information please call HMM Legal at (626) 445-1212.