Long Beach is the seventh largest city within the state California and accounts for one of the largest economic powerhouses of the state and the second busiest seaport nationwide. This economic boom has, in turn, led to increased property prices and placed a greater importance on having proper estate planning with a Long Beach estate planning attorney. The average household income for the city of Long Beach is $118,280 making it a 88.41% white collar work force despite the large port presence. The median value of a house in the city is $481,700 with 55.26% of housing being family households and 22.11% having children. Within and around the city there are a total of 10,091 units, 8,686 of which are occupied housing. The median year of structures built fall at around 1957 with newer construction adding an average additional value of $194,000.
On the surface, trusts may appear to be a simple arrangement between a trustee, the individual executing their estate plan, and beneficiaries of the trust. In reality, however, disputes tend to arise as a result of any number of issues. The two most common of these estate-related disputes are contests and trust disputes. While probate administrations go through the Probate court, trust administration can remain private except where litigation is initiated from contests and trust disputes. The problems that may result in litigation scenarios can be compounded by the size and average value of an estate in Long Beach. Failure to properly plan wills and trusts can also be addressed through a Long Beach probate and trust litigation lawyer. One such scenario is when documents are questioned because they don’t meet all of the standards of witnesses, notarizations, signing, etc. Another would be in the case of a lack of capacity on the part of the trustor. The individual who developed the trust or will should be of sound mine when it is executed. Also, undue influence in which one of the beneficiaries puts pressure on a sometimes vulnerable creator of the estate, especially when suffering from Alzheimer’s or dementia.
The total number of family households in Long Beach that should heavily consider the input of a professional will and trust lawyer is 99,152. This statistic far outweighs the number of non-family households in the area totaling 67,308. These individuals, too, however, may have to plan their legacy with a family member at some point in their lives. As previously mentioned, white-collar workers far outweigh the population of blue collar workers. The total number of white collar workers, when accounted for, came out to 179,693, whereas blue collar workers accounted for 48,279 people. The total population was last recorded at 469,883 which is what accounts for the city being the seventh largest in the state of California. The population of men and women is almost an even 50/50 split with 231,158 men and 237,725 women. The median age recorded was 34.6 making Long Beach a very young demographic.
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