Los Angeles Trusts

Written by Johnny Kitchens
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Los Angeles trusts are financial shelters for assets. The trustor's assets can be held in trust for a beneficiary who will take over control of such assets at the time stated. Control can shift to the beneficiary within the trustor's lifetime, upon death, or years later. Often control of the trust is granted when the beneficiary reaches a certain age.

Los Angeles trust services and estate planning services offer a wide variety of trusts. These trusts can be revocable (the trust can be amended or canceled) or irrevocable (the trusts are not subject to change). For larger, more complex estates, Los Angeles living trusts are recommended because they can provide lower transfer costs than a simple will for a comparable estate.

In the state of California, estates worth less than 100,000 dollars can receive an abbreviated probate process which reduces the need for a living trust. Los Angeles trusts become more appropriate as an estate's value moves into the millions. Some people choose to set up trusts early so that future assets can be more quickly assigned to them.

A Word of Caution about Los Angeles Trusts

Los Angeles trusts often prove very beneficial to people that have them but they may not be right for every person. Concerns over estate planning schemes have risen dramatically in the last few years. Suspect companies approach people and pressure them to set up trusts only to gain access to their sensitive financial records. Deal with a reputable attorney who offers you options.


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