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Minimize Taxes, Maximize Your Estate’s Potential: Seminar Unlocks Secrets of Estate Planning

Published on Jun 10, 2023

Global Law Group, a leading international legal firm based in Pasadena, hosts an educational seminar on estate planning later this month in Pasadena??. The seminar aims to educate individuals and families about the importance of estate planning and its impact on financial stability and family welfare.

Linda Wong, Esq., President and Principal Attorney of Global Law Group, will be a key presenter at the seminar??. With over three decades of legal experience, Ms. Wong shares insights on estate planning, focusing on asset protection strategies involving creditors and in case of divorce of beneficiary children. 

Helyn Lau, Esq., Senior attorney at the firm with over 13 years of experience,  also presents on topics including the creation and utility of trusts, wills, and how to avoid living probate.

During an interview with Pasadena Now, Ms. Wong emphasizes that estate planning encompasses arrangements not only after death but also in the event of incapacity, accidents, illness, and dementia. 

The seminar addresses various aspects of estate planning, tailored to each family’s unique needs, including issues related to the selection of trustees and restrictions on distribution to beneficiaries, probate avoidance, and associated fees.

Ms. Wong, a long-time resident of Pasadena, highlights the significance of estate planning for the community, particularly regarding mental health concerns and beneficiaries with special needs. She also shares a personal anecdote about modifying her trust to include a pet trust ensuring the well-being of her pets, reflecting Pasadena’s pet-loving culture.

The seminar emphasizes the benefits of setting up a trust compared to relying solely on a will. Ms. Wong notes that trusts which include many types enable comprehensive estate planning, including proper asset distribution for minor children and tax planning strategies.

For those with existing trusts, the seminar provides an opportunity to seek advice and review estate plans. Ms. Wong recommends periodic reviews every two years to adapt to changing circumstances and legal developments. 

Attendees also receive guidance on minimizing estate tax obligations through different trust structures due to the almost certain reduction of one’s estate tax lifetime exemption of 50% effectively 1/1/2026. 

Ms. Wong cautions against using generic templates and inexpensive online services for estate planning, emphasizing the importance of professional assistance and due diligence. She highlights the significance of including no-contest clauses to prevent beneficiary disputes and subsequent legal complications among family members. 

Regarding minimizing estate taxes, Ms. Wong stresses careful consideration of property holdings and potential tax reassessment. While not tax attorneys, the Global Law Group aims to inform clients about tax matters and encourages consultation with Financial Advisors, CPAs, or tax attorneys for effective navigation.

Estate Planning Seminar Session 1: “Why Do I Need to Create a Trust?” will be conducted on Tuesday, June 27, 2023 at 10:00 a.m. at Pasadena University Club. For more information call: 213-830-9933 and ask for Jessie or Sandy, or click here:

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