Page 3 - Van Wig & Associates Newsletter, Lakewood Edge ~ October 2019 Issue

trust assets

SAFEGUARDING YOUR CHILDREN’S INHERITANCE

f you’re like most people, you advise you to place the money in to leave behind at risk. While a child’s inheritance from all possible
hope to leave an inheritance a trust, which is the right thing to trust may protect your loved ones’ threats, while incentivizing them
I for your children. Indeed, it do. However, most lawyers would inheritance as long as the assets are to invest and grow the money
may even be one of the primary have you distribute the trust assets held by the trust, once the assets rather than squander and waste
motivations driving your life’s outright to your loved ones at are disbursed to the beneficiary, it, consider including a Lifetime
work. Yet if you don’t take the specific ages, such as one-third at they can be lost to future creditors, Asset Protection Trust in your
proper precautions, the wealth 25, half of the balance at 35, and a catastrophic accident or illness, plan for the ones you love. n
you pass down can easily be lost the rest at 40. divorce, bankruptcy, or major
or squandered. But giving outright ownership lawsuit. This article is a service of
When it comes to leaving an of the trust assets in this way puts Rather than risking their Deanny Lungu-Underwood,
inheritance, most lawyers will everything you’ve worked so hard inheritance by leaving it outright Attorney at Law.
to your children at certain ages or SPOTLIGHT
following certain life events, such
as graduating college, you can gift
your assets to your children at the
time of your death using a Lifetime
Asset Protection Trust (LAPT).
When you gift an inheritance
to your kids via an LAPT, the
trustee of the trust owns the assets,
not your children. Therefore, if
your kids ever get divorced, file
bankruptcy, have a major medical
issue, or are ordered to pay damages
in a lawsuit, they can’t lose their Deanny Lungu-Underwood, Esq.
inheritance because they never 5320 E. 2nd Street, Suite 6,
owned it in the first place. Long Beach, CA 90803
T (562) 533-2022
A PRICELESS GIFT deanny@lungulawgroup.com
If you wish to protect your www.lungulawgroup.com
LAKEWOOD MARKET UPDATE

MEDIAN LIST PRICE - 90712 REAL-TIME MARKET PROFILE
NEVER MISS IMPORTANT CHANGES IN THE LAKEWOOD MARKET

We continue to see prices in this zip code bounce around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

MARKET SEGMENTS Each segment below represents approximately
25% of the market ordered by price.
MEDIAN PRICE SQ. FT. LOT SIZE BEDS BATH AGE NEW ABSORBED DOM
$1,149,000 2,512 0.25 - 0.5 ACRE 3 1 59 0 0 50
$752,750 2,227 4,500 - 6,500 SQFT 3 1 69 2 0 50
$626,499 1,506 4,500 - 6,500 SQFT 3 1 69 3 2 39
$550,000 1,174 4,500 - 6,500 SQFT 3 0 69 4 3 19

MEDIAN LIST PRICE - 90713 REAL-TIME MARKET PROFILE
NEVER MISS IMPORTANT CHANGES IN THE LAKEWOOD MARKET

We continue to see prices in this zip code bounce around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
MARKET SEGMENTS Each segment below represents approximately
25% of the market ordered by price.
MEDIAN PRICE SQ. FT. LOT SIZE BEDS BATH AGE NEW ABSORBED DOM
$778,000 1,876 4,500 - 6,500 SQFT 4 1 68 0 0 45
$675,000 1,709 4,500 - 6,500 SQFT 3 1 69 1 1 31
$627,500 1,475 4,500 - 6,500 SQFT 3 1 66 3 3 33
$584,000 1,222 4,500 - 6,500 SQFT 3 0 69 4 6 42
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