Your SlideShare is downloading. ×
Peninsula seniors pg workshop power point
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Saving this for later?

Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime - even offline.

Text the download link to your phone

Standard text messaging rates apply

Peninsula seniors pg workshop power point

149
views

Published on


0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
149
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. ? ?? ? ?
  • 2.  Gather all information needed to create your plan Consult those closest to you to help make optimum decisions Share information with trusted advisors Review and execute documents and provide them to executors or trustees.
  • 3.  California laws of intestate succession are used to determine who will inherit your estate. As a “community property” state, transfer of property, even when a will or trust is in place, can be more complicated requiring good professional advice. Examples of distribution of decedents property according to California intestacy laws.
  • 4. Will: A written legal document signed and witnesseddirecting the distribution of your property.Living Trust: A legal document to which ownership ofproperty is transferred and a trustee is appointed andwhich distributes your property according to the termscreated in the trust.Which is best for me? Will or Living Trust?
  • 5. The unintended consequence of intestacy or a poorlyor incorrectly drafted will or living trust.How to avoid Accidental Inheritance:  Gather all pertinent information accurately  Consult with family and friends if appropriate  Consider all personal passions and legacy giving  Consult with trusted professional advisors when drafting documents.
  • 6.  Current Will or Living Trust Durable Power of Attorney for Finances Durable Power of Attorney for Healthcare Proper Distribution of Real Estate and Retirement Funds Use of Insurance Legacy Gifting Options
  • 7.  Wills and trusts are “living” documents requiring periodic review and updating What is a codicil? Trust titling and “pour over will” Trustee and Executor selection and periodic review
  • 8.  Avoid fraud or misrepresentation Legal authority to manage your property under defined circumstances Able to choose best representative while competent to do so
  • 9.  Two primary documents:  Durable Power of Attorney  Living Will Combined into an Advanced Directive document
  • 10.  How Real Estate and Retirement Plans are transferred at death:  By title  By beneficiary designation  By will or trust Tax trap for transfer of retirement assets
  • 11.  Long Term Care Insurance Life Insurance Annuities Cost – Benefit Analysis
  • 12.  Why A Legacy Gift? Life Income Gifts Charitable Trusts Bequest Giving Gifting Through Titling of Assets
  • 13.  Personal information on you and your family Define your estate planning goals Take inventory of your current situation Select person for role as Healthcare Power of Attorney Select person for role as Financial Power of Attorney Take inventory of assets: real estate, bank accounts, investments, and personal property Take inventory of liabilities: mortgages, vehicles, credit card accounts, loans and other debts Estate Plan details
  • 14.  Complete the workbook accurately. Engage professional advisors, especially if you have unique assets, blended family issues, or specific questions. Contact your charities of choice about legacy gifting. Call me with specific questions about legacy gifts in general or gifts to Marymount College or the Peninsula Seniors.
  • 15. Tom Zajac MARYMOUNT COLLEGE Major/Planned Gifts Officer Development 30800 Palos Verdes Drive East Rancho Palos Verdes, CA 90275Ph. (310) 303- 7625, Fax: (310) 303-7284 Email: tzajac@marymountpv.edu
  • 16. Spouse ChildrenCharity Relatives Friends