A living trust is a document that details what should happen to your assets upon your demise. This legal document appoints one person (could be either a bank, an individual or a firm) this person is called a trustee. This trustee holds legal title to property for your benefit during your lifetime and then given to beneficiaries upon your demise.
In lay terms, a living trust can be used to distribute property before death, at death or after death. The trustee performs the fiduciary duty of managing the assets for the beneficiary while the grantor (The owner of the assets) is still alive. Having a Living trust is currently a trend.
In lay terms, a living trust can be used to distribute property before death, at death or after death. The trustee performs the fiduciary duty of managing the assets for the beneficiary while the grantor (The owner of the assets) is still alive. Having a Living trust is currently a trend.
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Bahram Madaen is a skilled, seasoned attorney who concentrates on living trust and will law. Mr. Madaen has a reputation for working tirelessly on the details of each case to protect his clients' rights. That attention to detail serves clients well in the complex living trust and will filing process, and his even temperament and sensitivity helps those embroiled in even the most difficult cases.
Power of Attorney is a document that gives you the reign to appoint a person or organization of your choice to manage your property, financial affairs, and even medical affairs when you suddenly become unable to do so. Power of attorney is mostly used when the principal (the owner of the asset) suddenly becomes ill or incapacitated or in special scenarios when the principal is not available to.
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