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You know that old aphorism-- only two things are certain in life: death and taxes. Well, it's true, and the two are more involved with each other than we 'd like to think. When you finally pass on, your possessions will belong to the state for them to parcel out and profit off as they like ... unless you make plans in advance. That's why a will is so crucial, specifically when you have children whom you wish to make sure will be taken care of. Your household will appreciate that you've made the effort to construct a will and trust so that the final decisions do not abuse the family and loved ones. This is important for anybody to do at any age just since nobody knows when they could pass away. [http://www.salvolaw.com/Wills/Living-Trusts.shtml living trust attorney] When it comes to drafting up a legal document like a trust or a will, nobody is more suited for the task than an estate planning attorney, and no attorneys are more experienced in that business than Los Angeles attorneys. Estate planning is a routine part of the job in such a city with so many rich households, and nobody would criticize you for going to an L.A. lawyer to see to it that your kids and the property that is rightfully theirs are taken care of when you're gone. Of course, till your children are ready to inherit your wealth you'll want the cash cared for. It isn't exactly a great idea to give a nine-year-old a million dollars, regardless of what film and movies occasionally state. That's why you make sure to establish a living trust. Lawyers can help clarify to you how it works in greater detail, but basically, a living trust attorney will set up a fund that will then be secured by somebody you count on ( therefore: trustee) until your kid or children are of age. That trustee may even be your attorney! This should be handled as soon as possible so that if something unfortunate were to occur your kids are given the cash you want them to have at the appropriate time in their lives. Often times you can set everything up so that your son or daughter gets a lump sum of cash each year after they turn a particular age. For instance, you could have it so that once your child turns 18 they receive $5,000 and each year after they get even more of it till the trust is exhausted. This is a great way to help your children out even after you've passed on. [http://www.salvolaw.com/Estate-Planning/ estate planning attorney california] [http://www.salvolaw.com/Wills/Special-Needs-Trusts.shtml special needs trusts] A living trust is particularly vital when your child has special needs. In fact, there are specific kinds of living trusts called a special needs trust. They're made to help your children support themselves through the assistance of a trustee long after you're gone. Your kid may not be up to the task of handling their wealth themselves, you see; thus, their special needs trust lawyers might help them handle their cash for their own benefit after you've passed on. The idea of leaving your children young and alone is agonizing; when those children have special needs, it should be definitely heart breaking. Sadly, we cannot always select when its time for us to pass on, and you need to do everything in your power to make sure that your kids are cared for when that takes place.
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