Page 3 - Van Wig & Associates Newsletter, Lakewood Edge ~ January 2020 Issue

trust assets

BUYER BEWARE: THE HIDDEN DANGERS OF DIY ESTATE PLANNING

o a Google search for “online of how the legal process works upon websites, you’ll find numerous to happen. The DIY approach might
estate planning documents,” your death or incapacity, you’ll likely disclaimers pointing out that their be a good idea if you’re looking to
D and you’ll find dozens of make serious mistakes when creating a documents are “no substitute” for the build a new deck for your backyard,
different websites. From Legal Zoom® DIY plan. Even worse, these mistakes advice of a lawyer. but when it comes to estate planning,
and Willing.com to Rocket Lawyer® won’t be discovered until it’s too Family dynamics are—to put it it’s one of the worst choices you can
and Willandtrust.com, these do-it- late—and the loved ones you were lightly—complex. This is particularly make. Are you really willing to put
yourself (DIY) planning services trying to protect will be the very ones true for blended families, where your family’s well-being and wealth at
might seem like an enticing bargain. forced to clean up your mess. spouses have children from previous risk just to save a few bucks? n
However, relying on DIY planning relationships. A DIY service cannot
documents can actually be worse than ONE SIZE DOES NOT FIT ALL help you consider all the potential This article is a service of
having no plan at all—and here’s why: Online planning documents may areas where conflict might arise Deanny Lungu-Underwood,
appear to save you time and money, among your family members and help Attorney at Law.
PLANNING TO FAIL but keep in mind, just because you you plan ahead of time to avoid it.
Many people don’t realize that created “legal” documents doesn’t When done right, the estate planning SPOTLIGHT
estate planning entails much more mean they will actually work when process is actually a huge opportunity
than just filling out legal forms. you need them. Indeed, if you read to build new connections within your
Without a thorough understanding the fine print of most DIY planning family, and we’re specifically trained
to help you with that. In fact, that’s
our special sauce.

THINKING A WILL IS ENOUGH
Lots of people believe that
creating a will is sufficient to handle
all of their planning needs. But this
is rarely the case. A will, for example,
does nothing in the event of your
incapacity, for which you would also
need a healthcare directive and/or a
living will, plus a durable financial Deanny Lungu-Underwood, Esq.
power of attorney. 5320 E. 2nd Street, Suite 6,
Long Beach, CA 90803
DON’T DO IT YOURSELF T (562) 533-2022
Given all of these potential dangers, deanny@lungulawgroup.com
DIY estate plans are a disaster waiting www.lungulawgroup.com
LAKEWOOD MARKET UPDATE

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

Prices in this zip code seem to have settled around a 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
$875,000 2,439 4,500 - 6,500 SQFT 4 2 58 1 1 23
$689,000 1,534 4,500 - 6,500 SQFT 3 1 67 0 2 25
$633,000 1,402 4,500 - 6,500 SQFT 3 0 64 1 2 44
$585,750 960 4,500 - 6,500 SQFT 2 0 69 1 3 5

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
$737,450 1,852 4,500 - 6,500 SQFT 3 1 65 1 1 75
$689,000 1,633 4,500 - 6,500 SQFT 3 1 67 1 2 33
$635,000 1,367 4,500 - 6,500 SQFT 3 1 68 0 2 30
$585,000 1,082 4,500 - 6,500 SQFT 3 0 69 0 2 43
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