JustConsultation.com
ESTATE PLANNING PROBATE LAWYERS
LOS ANGELES
SIRKIN LAW
Legal DOCUMENTS & ADVICE PROTECTING YOUR PARENTS AND YOUR CHILDREN! ASK US ABOUT TRUSTS AND PROBATE.
TRUST ATTORNEY LOS ANGELES CA: ELDER LAW FAMILY TRUST
Families often get so busy that they don't remember when it is time to legally plan for their family trust with an attorney. Los Angeles Trust Attorney, Mina Sirkin has over 22 years of experience helping busy families put their affairs in order.
The first thing to do in planning for trusts is to put an asset inventory together. This takes a little time, but it is the most important aspect of estate planning.
Next, you should think about naming guardians for your minor children. Who they live with is more important than who holds their money. Pick family members who can be relied on and whose spouses will also agree to treat your children as their own.
Next, pick trustees who will manage your children's money for them. It is more important that you trust this person than any other variable. If a trustee is trusted but is not a good money manager, a good money manager and a financial advisor can be hired to help him or her with those decisions.
Pick trustees who do not have financial trouble. Trustees who have experience bankruptcies or other financial set backs, have risks and take risks. Those are generally not good candidates to hold your children's money.
If you can't locate a trustee in your family members who is suitable, there are professional fiduciaries who are bondable and insured to act as trustees. Also, there are a good number of banks and financial institutions who act as trustees when needed.
Los Angeles Trust Attorney Mina Sirkin is a Certified Specialist In Probate, Estate Planning and Trust Law in California. Call: 818.340.4479 for an appointment.