Little Saigon Living Trust

At Little Saigon Living Trust, we offer personalized estate planning services to ensure your assets are protected and your wishes are honored. We will guide you through wills, trusts, advance healthcare directives, and powers of attorney. We understand that every situation is unique, which is why we tailor our services to meet your specific needs.  

Q:   "What is a living trust?"

A:    A living trust is a way to pass property to someone when the time comes, and it is intended to avoid the cost and delay of probate.  The goal is to set up a method where children and others will not have to go through an expensive and lengthy court process to get what you want them to have.   

Q:  "What other staff members do you have in your office?

A:   We don't have any other people working in the office.  We do everything ourselves.  And we don't pass things off to uneducated and untrained people to do the work.  If you have a question, we want to answer it.  If you call, we will answer the phone.  If you send us a text or email, we will be the ones who respond.  And if you want us to write something, we will be the ones doing the writing.  

Q:  "Can't I just do this myself?" and "What about the guy who advertises $399 on a sign posted on Bolsa?" 

A:   If you mess it up, or if you go to someone who does not know what he is doing, your mess is likely to get discovered only when it's too late - when you are gone - and then your children may have to deal with an expensive mess that you created.  And it will be your fault because you knew or should have known that the person who did it had no education, training, or skill to be doing it.  Be careful of what you hear from YouTube, the local radio and TV stations, and your neighbor.  Much of it is nonsense.  

Q:   "What if my dad is getting old?" 

A:    If you are an adult with an aging parent who has not yet set up a trust, you may need to get active.  We understand why people put it off.  We know that none of this is pleasant.  But several times every year an adult child will bring in an aging parent to set up a living trust ... and ... it's too late.  If the parent is suffering from Alzheimer's, we will decline because parents cannot set up a trust if they are not mentally capable.  Don't wait.  

Q:   "I'm young ... why should I have a living trust?" 

A:    Actually, young families with young children are a special risk category because if something bad happens to the parents, the young children are left in an especially difficult situation.  We understand that none of this is pleasant, but it is important to think about it.  

Q:   "My mom is in the hospital and it doesn't look good ..."

A:    It is really sad when we get calls from family to see someone in the hospital.  But we will go and we will do what needs to be done if it's not already too late.  If you think someone is sick, you may be wise to not waste any more time. 

Q:   "How will I know much everything will cost?"

A:    When we have an opportunity to meet you, to get to know your situation and the number and location of properties and other assets, we will give you a precise quotation of all charges.  Our clients are fully informed about pricing and there will be no surprises.  

Q:  "If I have a revocable living trust, can I change it?  How much will it cost?"

A:   A revocable living trust can be amended.  From time to time clients will have another child, decide to add someone else as a beneficiary, substitute someone else as a trustee, or add one or more properties.  Our charges reflect the time required to make the changes, and our rates are fair.   

Q:  "I hear a lot about asset protection trusts on the local TV and radio stations.  Will you do an 'asset protection' trust for me?"

A:   No.  We will not do an "asset protection" trust.  An irrevocable living trust is sometimes called an "asset protection" trust.  We understand that irrevocable living trusts get a lot of seductive sales hype on the local TV and radio stations as well as YouTube.  You may well be able to find someone else to do it for you, but we will not set up an irrevocable trust.  I have yet to see a client who understands the very few reasons for, and substantial limitations of, an irrevocable living trust.  And once you set it up, it's almost impossible to get out of it.  If you get talked into an irrevocable trust by someone else, don't blame us.  

Q:  "Will a living trust protect me from estate tax?"

A:   Again, this question often comes from people who have heard the sales hype on TV and YouTube.  First, California does not have an estate tax.  Second, the federal estate tax does not apply to a single person with assets less than $15 million and $30 million for a married couple.  We have no clients who have more than $30 million in assets.  Hence, none of our clients are subject to estate tax anyway, so stop listening to the hype on TV and YouTube.  On the other hand, property taxes and reassessments are real issues in California and we deal with that issue every day.  Tax laws change frequently.  If you have tax questions, you should speak with your CPA.   

Q:  "Hey, Greg ... why are you in Little Saigon?"

A:   When you come to the office, I will tell you the story. :)