Deanny Lungu

California

ID Number: 201837

Since 1999

Univ of California at Los Angeles

Undergraduate Degree

Southwestern Univ School of Law

Law Degree

Southwestern University School of Law

WealthCounsel

member

Current

Activities: Proud to be a member of this national organization of trusts and estates attorneys and other legal, tax, and business professionals who design sophisticated planning techniques for individuals and families

California State Bar  # 201837

Member

1999 - Current

Q. I am writing my own will using the language & style of my old will drafted by an attorney.

April 19, 2020

A: You would have to check your state statutes requirements for a valid will. I am not licensed in your state, hopefully, a WA-based attorney can provide some insight. Good luck.

Q. Quick question. Would a Letter of Agreement change the Trustee of my trust to someone I name in the follow way?

April 13, 2020

A: Yes, you can make that change. Please take a look at the language in your trust agreement, there are usually provisions that speak to how a current acting trustee can resign and what they need to do to appoint a new successor trustee. If the trust agreement is silent, a sound course of action would be as you suggested, to have both parties (current and to-be-appointed trustee) sign an agreement.to that effect.

Q. For listing assets in a trust, how specific does it have to be? Can I list "Chase Bank account"? Whole account number?

April 10, 2020

A: I generally recommend the account be in the trust name. Listing the acount number, name of the institution, be as specific as possible, and include that on an asset spreadsheet or on a schedule so that your family members can more easily locate the account if something happens to you.

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