Who Do You Trust? What you need to know about choosing or changing your trustee, executor, or agent.
|
|
- Erik Johnson
- 8 years ago
- Views:
Transcription
1 Who Do You Trust? What you need to know about choosing or changing your trustee, executor, or agent. Cheryl Schaffer, MST, CPA, AEP Estate & Trust Partner Wright Ford Young & Co Victoria Gray, CFA, CTFA, TEP Vice President The Northern Trust Company
2 The Estate Plan Where There s A Will, There s A Way! A plan is the greatest gift one can give to one s family. As long as there are families, estate planning, Wills, and Trusts will still be needed, even if the estate tax is permanently repealed. Long before the estate tax was enacted in 1916, people used Wills and Trusts to plan for the distribution of their wealth. The primary goal of estate planning is and always has been to achieve your personal and family goals, legacy, values; tax considerations are secondary. 2
3 Takeaways Who should plan for incapacity or death? Your estate plan is of great importance because it is likely the last communication that you will have with those whom you love. These documents can also provide guidance to those who will care for our family members our executors and trustees when we no longer can do so ourselves. Frequently descendants and/or trust beneficiaries have questions about the transfer plan in place for their family s wealth. Give them the answer by ensuring that your estate plan respects your values, goals and aspirations for your loved ones. By clearly articulating your goals, your estate planner can better design an estate plan that helps ensure your intentions are met, and your trustee(s) will be in better position to administer your wealth transfer instruments in accordance with those intentions. And for those with a plan already in place, allow these detailed questions to further inform your vision, thereby helping to ensure that your wealth transfer intentions build the legacy you desire and deserve. 3
4 Who Can Serve as a Fiduciary? An executor and trustee generally have different responsibilities, none the less, one person or entity can serve both roles. The role can be a lifelong, and sometimes beyond, responsibility. Individual [Family, Friends, Attorney, Accountant] Professional [Private Professional Fiduciaries, Corporate Fiduciaries] 4
5 The Basic Estate Planning Documents Wills and Codicils take effect at death, may or may not involve probate Trust and Amendments Many kinds of trusts Building blocks of a typical trust Type of document Transferring assets to your trust Grantor s rights and powers Designations and rights of beneficiaries Fiduciary rights, powers and obligations Investment standards and decisions Distribution of Income and Principal Miscellaneous trust provisions and exhibits Healthcare Directives provides instructions to your agent for your care during your life Living Will provides for your disposition at death Power of Attorney gives authority to your agent to act on your behalf during your life A letter to your loved ones and/or advisers explaining your desires, goals, and intent. Fair is not the same as equal. 5
6 Trusts and Trustees What is a Trustee? A trustee is the person who must manage the assets in a trust for the benefit of the beneficiaries. During your lifetime, you are the trustee of your trust while you are able and willing. If you are incapacitated, the named successor trustee manages the trust assets for your benefit while you are alive. After your death, the named successor trustee manages and distributes the trust assets to and for the beneficiaries according to the trust. 6
7 The Trustee hats A Trustee wears many hats: Fiduciary Administrator/Coordinator Surrogate Parent/mentor/teacher/therapist Business owner/employee Real estate owner/environmentalist/insurance coordinator Investment owner Accountant Planner Protector Healthcare Coordinator Legal Coordinator 7
8 Basic Duties of a Trustee Duty to keep the beneficiaries reasonably informed of the trust and its administration Duty to administer the trust according to the terms of the trust Duty of loyalty Duty of impartiality among beneficiaries, unless otherwise provided in the trust Duty not to use or deal with trust property for the trustee s own profit Duty of a trustee not to take part in any transaction adverse to the beneficiary Duty to knowingly become a trustee of an adverse trust Duty to take reasonable steps to take, keep control and preserve the trust property Duty to make the trust property productive under the circumstances for the trust Duty to keep the trust property separate from the non-trust property Duty to properly designate property as part of a trust Duty to enforce claims that are part of the trust property Duty to take reasonable steps to defend actions that may result in a trust loss Duty to not delegate to others the performance of acts reasonably required Duty to supervise agents and co-trustees in matters properly delegated Duty as a co-trustee to participate in the administration of the trust Duty as a co-trustee to take reasonable steps to prevent another co-trustee breach of trust Duty to compel a co-trustee to redress a breach of trust Duty to distribute to beneficiaries as per the trust or if per a power of discretion 8
9 The Role of Trustee Following is a representative though by no means comprehensive summary of what is expected from a trustee. Depending upon the trust s terms and holdings, the trustee will assume many or all of these responsibilities. Legal Obligations Accounting and Administration Investment Management Securities Custody Tax-Related Responsibilities Duties to Beneficiaries Estate Settlement/ Executorship Responsible for proper administration Investigates claims and opposes invalid claims in court Seeks legal counsel when needed Establishes bookkeeping procedures Inventories and changes asset titles Pays bills Performs continuous accounting Submits records for independent audit Develops appropriate strategy to protect the interests of the grantor and beneficiaries Reviews assets regularly for quality and performance Makes timely and intelligent adjustments to the portfolio Plans transactions to minimize taxation Collects all assets and related income Tracks dividend notices, bond calls and maturities Acts upon stock warrants and subscription rights Maintains detailed records of all assets and transactions Documents asset acquisition dates, cost bases and adjustments Keeps records of taxable income Files annual trust tax returns Furnishes information for beneficiary tax returns Communicates regularly Makes mandatory payments Exercises discretion if payments are discretionary Distributes assets on trust termination Provides detailed account statements Ensures courts and taxing authorities requirements are met Investigates and discharges obligations to creditors Determines final distributions in keeping with the trust agreement Arranges final transfer of assets Arranges for daily investment of cash 9
10 How to choose or change a trustee Ask questions Interview prospective trustees Credentials, licenses, skill sets History and longevity Succession Services offered References Fees and costs for standard duties, extraordinary services Potential conflicts 10
11 Organizing Your Plan Review with your trustee/advisor team, your current plans and documents [know what your documents include; write/ask questions] Design flexibility into your documents. Prepare an Inventory of your assets to include title held, account numbers, acquisition date, tax costs, and contact information [Confirm titling.] Prepare a Contact List of relatives [a Family tree is most helpful], advisers, important people and discuss. [Include address, address, telephone, etc.] Talk to your family before the event. Prepare for child care based on age and circumstances Plan for incapacity Access codes, keys, alarm company notification 11
12 Organizing Your Plan Review your insurance coverages, such as: o Homeowners [property, casualty, fire, flood, earthquake] o Scheduled items such as jewelry, collections, other o Auto o Umbrella o Medical/Health/Dental [List doctors and medicines] o Life o Business continuity Review employer/employee benefits and coverages Review retirement vehicles IRAs [traditional, Roth] Review business continuity or exit strategy 12
13 Organizing Your Plan Plan for pets [food, water, comfort, veterinarians] Plan for digital assets including password management [any online account, , social networking, websites, domain names, photosharing websites, etc.] Plan for special/non-financial assets i.e. real estate, oil, gas & minerals, copyrights, patents or royalties Taxes: o Income taxes [personal/fiduciary/business] o Gift taxes o Estate Taxes o Generation Skipping Taxes [GST] o Property [Real Estate, property, business] Review Charitable Planning [current, planned] 13
14 Keep Secure! Portable Base of Operation [from the October 2005 issue of AARP Bulletin-as updated for today s presentation] Will and/or trust documents Powers of attorney Insurance Policies Contact list Recent investment statements [could substitute your inventory if all data and contact information recorded] Recent tax return[s] Copies of birth/marriage certificates Social security cards [copies] Passports and other identity documents List of prescriptions you take [you may want to keep the pharmacy print out that also lists instructions and cautions] Emergency cash Cell phone charger for the car/standard, extra batteries Safe combination Safe deposit box keys Copy of driver s license Computer user names and passwords List of checking/savings account numbers [again you could substitute your inventory] List of credit card numbers and company information [inventory] 14
15 Keep Secure! Safe-Deposit Box Originals of Wills and/or Trusts Copies of Powers of Attorney Life insurance policies Original inventories [financial, home [photos/list], appraisals, etc.] Family birth, marriage, and death certificates Adoption papers Citizenship papers Military service records Loan agreements, notes Certificates of deposit Real Estate deeds Vehicle titles Mortgage paperwork Stock and bond certificates Jewelry/coins/precious metals Employment contracts/business agreement 15
16 Keep Secure! Friend, Relative, or Adviser [Be clear how and when information to be used and how it will be safeguarded in the meantime.] Paper or digital copies of your documents/inventory Your emergency contact information including and cell phone Contact list for heirs and advisers should something happen to you. 16
17 Be Prepared. Remember, the greatest gift you can give to yourself and those you love is a well thought out plan. To borrow a popular motto, Be Prepared. How prepared are you? A good plan violently executed now is better than a perfect plan next week. - General Patton 17
18 Cheryl is well recognized for her work in tax planning and preparation for individuals, estates, trusts, and private foundations. Cheryl obtained her B.S. from California State Long Beach and her Masters in Taxation from Golden Gate University. She is a frequent lecturer on estate and income tax issues, has instructed other CPAs for continuing education programs, has taught private foundation taxation at the graduate level and has lectured annually for the Estate and Trust Section of the Orange County Bar Association. Cheryl Schaffer, C.P.A., MS.T., A.E.P Accredited Estate Planner Tax Partner of Estates and Trusts Wright Ford Young & Company Sand Canyon Avenue Irvine, CA Cheryl@cpa-wfy.com Cheryl is the past chairperson of the California Society of CPAs Estate Planning Committee, past president of the Planned Giving Roundtable of Orange County, past chairperson of the American Heart Association s Planned Giving Committee, and former board member of Someone Cares Soup Kitchen. She is past President of the Orange Coast Estate Planning Council. 18
19 Victoria A. Gray is a Vice President and Senior Administrative Officer for Trust and Estate Services of Northern Trust s Newport Beach office. Prior to joining The Northern Trust Company in August of 1989, Mrs. Gray was Vice President and Senior Trust Officer for Boston Safe Deposit and Trust, Newport Beach. She also served as Senior Trust Officer for Bank of America and as a Trust Officer for Wells Fargo Bank. Mrs. Gray received a B.S. Degree in Mathematics and a M.B.A. Degree from California Polytechnic State University, San Luis Obispo. She also holds lifetime California State Teaching Credentials for secondary and community college education in the areas of math, chemistry, and statistical analysis. Victoria A. Gray, CFA Vice President, Personal Fiduciary Services The Northern Trust Company 16 Corporate Plaza Newport Beach, CA (949) VAG1@ntrs.com Mrs. Gray s professional affiliations include serving on the board of STEP, Society of Estate and Trust Practitioners, Orange County Chapter. She is past president of the Orange Coast Estate Planning Council and previously on the board of the Partnership for Philanthropic Planning-Orange County as past President. She is currently on the UCI Advisory Council. She has presented and co-presented on a variety of topics related to trust administration and fiduciary matters for the University of California Continuing Education of the Bar-Orange County Chapter and the CalCPA Orange County/Long Beach Chapter, the Orange Coast Estate Planning Council, as well as, the Sigma Chapter, Graduate Women in Science and other organizations. Additionally, she helps to lead the Orange County and Desert Literary Societies in promoting literacy. She is affiliated with the Boy Scouts of America through Troop 606 and was past chair of the Women of Excellence Awards Program. She was appointed to the Board of Trustees of the Orange County Council of the Boy Scouts in 1999, and the Learning for Life Character Education Board in She belongs to the Daughters of the American Revolution and is a member of Soroptimist International as a Past-President, Treasurer, and chaired the Distinguished Women s Events for a number of years. She s had the privilege of partnering with a number of charities as a volunteer for specific projects or events. Mrs. Gray is also a member of the Cardinal Key and Kappa Mu Epsilon honor societies. She earned the Chartered Financial Analyst [CFA] designation and is a member of the Los Angeles and Orange County Societies of Financial Analysts. She also holds the Certified Trust and Financial Advisor [CTFA] designation from the Institute of Certified Bankers. 19
20 Questions? IRS CIRCULAR 230 NOTICE: To the extent that this communication or any attachment concerns tax matters, it is not intended to be used, and cannot be used by a taxpayer, for the purpose of avoiding any penalties that may be imposed by law. For more information about this notice, see LEGAL, INVESTMENT AND TAX NOTICE: This information is not intended to be and should not be treated as legal advice, investment advice or tax advice. Readers, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal or tax advice from their own counsel. OTHER IMPORTANT INFORMATION: This presentation is for your private information and is intended for one-on-one use only. The information is intended for illustrative purposes only and should not be relied upon as investment advice or a recommendation to buy or sell any security. Northern Trust and its affiliates may have positions in, and may effect transactions in, the markets, contracts and related investments described herein, which positions and transactions may be in addition to, or different from, those taken in connection with the investments described herein. Opinions expressed are current only as of the date appearing in this material and are subject to change without notice. Past performance is no guarantee of future results. Periods greater than one year are annualized. Performance assumes the reinvestment of dividends and earnings and is shown gross of fees, unless otherwise noted. Returns of the indexes and asset class projections do not reflect the deduction of fees, trading costs or expenses. It is not possible to invest directly in an index. Indexes and trademarks are the property of their respective owners, all rights reserved. A client's actual returns would be reduced by investment management fees and other expenses relating to the management of his or her account. To illustrate the effect of compounding of fees, a $10,000,000 account which earned a 8% annual return and paid an annual fee of 0.75% would grow in value over five years to $14,693,281 before fees, and $14,150,486 million after deduction of fees. For additional information on fees, please read the accompanying disclosure documents or consult your Northern Trust Representative. There are risks involved in investing including possible loss of principal. There is no guarantee that the investment objectives or any fund or strategy will be met. Risk controls and asset allocation models do not promise any level of performance or guarantee against loss of principal. All material has been obtained from sources believed to be reliable, but the accuracy, completeness and interpretation cannot be guaranteed. Securities products and brokerage services are sold by registered representatives of Northern Trust Securities, Inc. (member FINRA, SIPC), Not a registered FDIC Insured investment No Bank adviser Guarantee and wholly May Lose owned Value subsidiary of Northern Trust Corporation. Investments, securities products and brokerage services are: DISCLOSURE: The information contained in this presentation is for illustrative and educational purposes only and may contain some simplification. Consequently, this information should not be construed as tax or legal advice. Individuals should be advised to consult with tax and legal professionals before implementing any of the discussed strategies. 20
Helping to keep your promises
Helping to keep your promises Our customized trust services There have been times in your life when you made a promise to yourself. Perhaps you sealed your vow to love and protect with a kiss. You may
More informationOrganize Your Personal Financial Information
Concannon Wealth Management 1525 Valley Center Parkway Suite 310 Bethlehem, PA 18017 610-814-2474 www.cwm.us.com Organize Your Personal Financial Information Page 2 of 7 Personal Document Locator Please
More informationCreating a Lasting Legacy
Picture Placeholder Creating a Lasting Legacy Strategies for effective estate and tax planning Jim Alverson, Director Wealth Planning Strategies Welcome to today s presentation This presentation (including
More informationNo bank guarantee Not a deposit May lose value Not FDIC/NCUA insured Not insured by any federal government agency
Understanding Trusts A Summary of Trusts for Estate Planning No bank guarantee Not a deposit May lose value Not FDIC/NCUA insured Not insured by any federal government agency 6/13 23171-13A Contents What
More informationPersonal Trust Services
TIAA-CREF Trust Company, FSB Personal Trust Services Transfer assets to your heirs with confidence Many people assume trusts are only for the ultra-wealthy, but that is a misconception. Simply defined,
More informationRevocable Trusts WHAT IS A REVOCABLE TRUST?
Revocable Trusts The Revocable Trust (often referred to as a Living Trust ) is a popular and effective estate planning technique used throughout the United States. Its advantages (and disadvantages) should
More informationBasics of Estate Planning
Basics of Estate Planning THE CORNERSTONE OF ANY ESTATE PLAN ARE THE DOCUMENTS THAT SET FORTH YOUR WISHES FOR THE DISPOSITION AND OVERSIGHT OF YOUR ASSETS AT YOUR DEATH. IN ADDITION TO PROVIDING GUIDELINES
More informationWhy you need an estate plan. Now. Make things easier for the people you love.
Why you need an estate plan. Now. Make things easier for the people you love. Eight questions it s best to answer now. No one can predict the future, but one thing is sure: If we leave unanswered questions
More informationEstate. Settlement. In Utah
Estate Settlement In Utah Marc A. Austin, P.C. All rights reserved. No portion of this booklet may be reproduced without written permission. Marc A. Austin, P.C. Attorney at Law 3521 North University Avenue
More informationYour story is unique. Your Financial Advisor will work with Wells Fargo Private Bank to build a team designed around you
Your story is unique Your Financial Advisor will work with Wells Fargo Private Bank to build a team designed around you A team of local professionals focused on your needs Your relationship with your Wells
More informationEstate Planning Questionnaire
How did you hear about us? GRISSOM LAW, LLC 10475 Medlock Bridge Road Suite 215 Johns Creek, GA 30097 678.781.9230 Estate Planning Questionnaire I. GENERAL INFORMATION Full name Other names known by Date
More informationRobert J. Ross 1622 W. Colonial Parkway, Suite 201 (847) 358-5757 Inverness, Illinois 60067 Fax (847) 358-7088 Bob@RobertJRoss.com
Law Offices of Robert J. Ross 1622 W. Colonial Parkway, Suite 201 (847) 358-5757 Inverness, Illinois 60067 Fax (847) 358-7088 Bob@RobertJRoss.com ESTATE PLANNING Estate planning is more than simply signing
More informationUNDERSTANDING PROBATE. The Family Guide PREPARED BY ROBERT L. FERRIS
UNDERSTANDING PROBATE The Family Guide PREPARED BY ROBERT L. FERRIS I FIRST STEPS: WHAT TO DO 1. Obtain certified copies of the Death Certificate. When a person dies in California, an official Death Certificate
More informationEstate planning strategies using life insurance in a trust Options for handling distributions, rollovers and conversions
Estate planning strategies using life insurance in a trust Options for handling distributions, rollovers and conversions Life s better when we re connected Table of contents Find your questions review
More informationPersonal Document Locator
Ameriprise Financial Stephanie Milosavlevski, CFP Financial Advisor 2182 Commons Parkway Okemos, MI 48864 517-349-2880 stephanie.j.milosavlevski@ampf.com Personal Document Locator Page 1 of 7, see disclaimer
More informationEstate Organizer. Janney Montgomery Scott LLC
Estate Organizer Janney Montgomery Scott LLC W E A L T H M A N A G E M E N T Table of Contents Desired Disposition of Estate... 1 General Information for Family... 2 Advisors... 4 Memorial Directions...
More informationEstate Planning Workbook
Transamerica Advanced Markets Estate Planning Workbook Transamerica Resources, Inc. is an Aegon company and is affi liated with various companies which include, but are not limited to, insurance companies
More informationLove, marriage and money: Financial planning tips for same-sex couples in the new age of marriage equality
TIAA-CREF Individual Advisory Services Love, marriage and money: Financial planning tips for same-sex couples in the new age of marriage equality With the Supreme Court s historic ruling on marriage equality,
More informationTrust Services at Merrill Lynch. Estate Planning Services
Trust Services at Merrill Lynch Estate Planning Services Merrill Lynch Wealth Management makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) and
More informationGetting Organized. The purpose of this chapter is to discuss what needs to be done soon, but not necessarily immediately after a death.
Getting Organized The purpose of this chapter is to discuss what needs to be done soon, but not necessarily immediately after a death. Going Into the Home A distinction should be made between things a
More informationFINANCIAL & ESTATE PLANNING ORGANIZER. R.W. Rogé & Company, Inc.
FINANCIAL & ESTATE PLANNING ORGANIZER Blank FINANCIAL & ESTATE PLANNING ORGANIZER In order to simplify matters, the following pages of financial and estate planning information serve to aid my family in
More informationESTATE PLANNING BOOKLET
ESTATE PLANNING BOOKLET (Information about Wills, Trusts, Estate Taxes, and more...) P P P SUSSMAN+PARKHURST ATTORNEYS AT LAW ROSS A. SUSSMAN (612) 465-0099 CAMERON M. PARKHURST (612) 465-0097 222 NORTH
More informationEstate Planning Basics. An Overview of the Estate Planning Process
Estate Planning Basics An Overview of the Estate Planning Process What Is an Estate Plan? An estate plan is a map This map reflects the way you want your personal and financial affairs to be handled in
More informationIrrevocable Life Insurance Trust
Davis & Graves CPA LLP Jerry Davis, CPA/PFS 700 N Main Gresham, OR 97009 503-665-0173 jerryd@davisgraves.com www.jjdcpa.com Irrevocable Life Insurance Trust Page 1 of 9, see disclaimer on final page Irrevocable
More informationREVOCABLE LIVING TRUST
CHERRY CREEK CORPORATE CENTER 4500 CHERRY CREEK DRIVE SOUTH, SUITE 600 DENVER, CO 80246-1500 303.322.8943 WWW.WADEASH.COM DISCLAIMER Material presented on the Wade Ash Woods Hill & Farley, P.C., website
More informationWealth Structuring and Estate Planning. Your vision and your legacy. Life s better when we re connected
Wealth Structuring and Estate Planning Your vision and your legacy Life s better when we re connected Inside 1 Helping you shape the future 2 The elements of wealth structuring 4 The power and flexibility
More informationSelecting a Trustee for Your Trust
Selecting a Trustee for Your Trust Establishing a trust can be an important step toward fulfilling your financial goals. It can also be a critical step toward establishing a sense of order in your life.
More informationMilestone Financial Group January 09, 2015
Milestone Financial Group David Hunt, CFP Financial Advisor 205-B Plaza Drive Greenville, NC 27858 252-756-7005 TF 877.706.7005 dave@milestonefinancialgroup.com Settling an Estate Settling an Estate What
More informationESTATE PLANNING QUESTIONNAIRE Date:
I. Client Information ESTATE PLANNING QUESTIONNAIRE Date: : Yes No First Middle Last U.S. Citizen? How would you like your name to read on your estate planning documents? Other s Known By Date of Birth
More informationTRUST SERVICES SERVICE LOYALTY HONESTY INTEGRITY
TRUST SERVICES SERVICE LOYALTY HONESTY INTEGRITY USAA TRUST SERVICES Your life and your legacy. Make sure it s managed to your wishes. You ve worked hard and carefully managed your finances. Now you have
More informationEstate Planning. Some common tools used to help meet those particular needs include:
Estate Planning The Importance of Having an Estate Plan Having an estate plan is one of the most important things you can do for your family. It's not just about planning for estate taxes; it's about developing
More informationHow a Corporate Trustee Can Help a Financial Planner Meet Their Client s Goals
How a Corporate Trustee Can Help a Financial Planner Meet Their Client s Goals Thomas M. Forrest, CPA, AEP Charles Schwab & Co., Inc. 234 Weldin Ridge Road Wilmington, DE 19803 (302) 764-1050 thomas.forrest@schwab.com
More informationTrust and Estate Solutions
Trust and Estate Solutions WHAT IS A TRUST? A trust is simply your instructions for the management of all or part of your property. An attorney who represents you and has expertise in the area of estate
More informationCity Securities Corporation December 02, 2014
City Securities Corporation Strouse Keller Income Advisors Paula Strouse and Chad Keller Financial Advisors 30 South Meridian Street Suite 600 Indianapolis, IN 46204 317-634-4400 800-800-CITY(2489) strousekeller@citysecurities.com
More informationFinancial & Estate Planning. Organizer
Financial & Estate Planning Organizer Securities offered through Cetera Financial Specialists LLC, (doing insurance business in CA as CFGFS Insurance Agency) member FINRA/SIPC. Advisory services offered
More informationthe Private Trust Company planning with confidence Simplified Trust Solutions
the Private Trust Company planning with confidence Simplified Trust Solutions What is a Trust? As the nation s leading independent broker/dealer*, LPL Financial serves the independent financial advisor
More informationIRREVOCABLE TRUST CAUTION: The purposes of this memorandum are to assist you and the trustee of your irrevocable trust in:
CHERRY CREEK CORPORATE CENTER 4500 CHERRY CREEK DRIVE SOUTH #600 DENVER, CO 80246-1500 303.322.8943 WWW.WADEASH.COM DISCLAIMER Material presented on the Wade Ash Woods Hill & Farley, P.C., website is intended
More informationKURT D. PANOUSES, P.A. ATTORNEYS AND COUNSELORS AT LAW 310 Fifth Avenue Indialantic, FL 32903 (321) 729-9455 FAX: (321) 768-2655
KURT D. PANOUSES, P.A. ATTORNEYS AND COUNSELORS AT LAW 310 Fifth Avenue Indialantic, FL 32903 (321) 729-9455 FAX: (321) 768-2655 Kurt D. Panouses is Board Certified by the Florida Bar as a Specialist in
More informationCALIFORNIA GUIDE TO BASIC ESTATE PLANNING 2014
CALIFORNIA GUIDE TO BASIC ESTATE PLANNING 2014 Prepared by: GLASER WEIL FINK HOWARD AVCHEN & SHAPIRO LLP Century City Office 10250 Constellation Boulevard, 19 th Floor Los Angeles, California 90067 (310)
More informationLPL Trust Services. Delivering fully-integrated trust services. Linsco/Private Ledger
LPL Trust Services Delivering fully-integrated trust services 1 Linsco/Private Ledger As one of the nation s leading broker/dealers, Linsco/Private Ledger (LPL) serves the independent financial advisor
More informationUNDERSTANDING PROBATE: A BASIC GUIDE TO THE PROBATE PROCESS
WHAT IS PROBATE? JAY D. FULLMAN A PROFESSIONAL CORPORATION 800 South Beach Boulevard, Suite A La Habra, California 90631 Telephone (562) 694-6005 or (714) 255-2960 Facsimile (562) 697-7700 E-Mail: jdfullman@mminternet.com
More informationMoving to Florida. Sun, sand, and the beach might be enough
Moving to Florida Sun, sand, and the beach might be enough to lure you to move to the Sunshine state. Add in no state income tax, state estate tax and the repeal of the Florida Intangibles Tax, and Florida
More informationEstate Planning. Maximize the legacy you leave to loved ones
Estate Planning Maximize the legacy you leave to loved ones An estate plan is a versatile tool from which anyone can benefit. It is the way you communicate your wishes to the loved ones you leave behind
More informationABA WEALTH MANAGEMENT AND TRUST
ABA WEALTH MANAGEMENT AND TRUST A $10.00 shipping, recordkeeping and administrative fee will be added to all self-paced enrollments. Course Name Tuition Trust Fundamentals Introduction to Estate Planning
More informationGIVE AND YOU SHALL RECEIVE CHARITABLE GIVING, CREATING A PLAN THAT S RIGHT FOR YOU
GIVE AND YOU SHALL RECEIVE CHARITABLE GIVING, CREATING A PLAN THAT S RIGHT FOR YOU Contents 1 Give and you shall receive 3 Techniques summary 5 Planning for charitable giving NOT FDIC OR NCUA INSURED NOT
More informationWealth Transfer Planning
Wealth Transfer Planning For Business Owners ESTATE PLANNING SERVICES Merrill Lynch does not provide tax, accounting or legal advice. Any information presented about tax considerations affecting client
More informationWisdom and Wealth: There are specific financial planning. A Workbook for Wealth Creation
Wisdom and Wealth: A Workbook for Wealth Creation There are specific financial planning goals that should be considered during each decade of life. This workbook presents a series of questions meant to
More informationPERSONAL DOCUMENT ORGANIZER
PERSONAL DOCUMENT ORGANIZER We suggest saving this organizer in a secure location either in printed format or electronic format. You may also wish to consider emailing a copy of this document to your attorney,
More informationOrganizing your financial life
Organizing your financial life Critical information at your fingertips Date Your Name Financial Advisor / Team Name Financial Advisor / Team Phone Number Financial Advisor / Team Email Financial Advisor
More informationTHE ESTATE SETTLEMENT PROCESS
THE ESTATE SETTLEMENT PROCESS Please review this information carefully. The success of the probate depends on you. Settlement of an estate involves the process necessary to transfer asset ownership from
More informationESTATE PLANNING CHECKLIST. Your Name(s): Client 1: DOB: SSN: Employment: Telephone Numbers: Home: Office: Fax: Cell:
ESTATE PLANNING CHECKLIST Meeting Date: Referred By: Your Name(s): Client 1: DOB: SSN: Employment: Client 2: DOB: SSN: Employment: Address: (including County of residence) Telephone Numbers: Home: Office:
More informationIt is always best to consult an attorney when preparing a document such as this. GENERAL POWER OF ATTORNEY
It is always best to consult an attorney when preparing a document such as this. GENERAL POWER OF ATTORNEY I, of of Ohio, appoint of Ohio as my Attorney-in-Fact or if he cannot serve or continue to serve
More informationBUILDING FLEXIBILITY INTO THE TYPICAL IRREVOCABLE LIFE INSURANCE TRUST
BUILDING FLEXIBILITY INTO THE TYPICAL IRREVOCABLE LIFE INSURANCE TRUST Presented to the Kentucky Society of Certified Public Accountants, 48 th Annual Kentucky Institute on Federal Taxation, November 18,
More informationESTATE TAX RETURN ORGANIZER (FORM 706)
This organizer is designed to assist you, the personal representative, in gathering the information required for preparation of the appropriate estate and inheritance tax returns. Please complete the organizer
More informationGetting Your Affairs In Order. A Guide for Your Survivors. and. Office of the New York State Comptroller Alan G. Hevesi
Getting Your Affairs In Order and A Guide for Your Survivors Office of the New York State Comptroller Alan G. Hevesi New York State and Local Retirement System Employees Retirement System Police and Fire
More informationSchwab One Account Application for Personal and Trust Accounts
Investment Advisor ( IA ) Information (This portion to be completed by IA.) IA Firm Name (please print): IA Master Account Number: Service Team: Advisor Contact Information (if follow-up is required):
More informationCaring for an Aging Parent Checklist
Caring for an Aging Parent Checklist Page 1 of 5, see disclaimer on final page Caring for an Aging Parent Checklist General information Yes No N/A 1. Has relevant personal information been gathered? Name,
More informationESTATE TAX RETURN ORGANIZER (FORM 706)
This organizer is designed to assist you, the personal representative, in gathering the information required for preparation of the appropriate estate and inheritance tax returns. Please complete the organizer
More informationAn estate plan must be done correctly by a team that has your best interest in mind.
Estate planning is about easing the burden of your death on your family and ensuring the future of your wealth is determined by you. Your family s future may depend on it. Authors: Alan Beugg, Brian Sullivan,
More informationImagine Your Future Set YourGoals Chart Your Course. The Importance of Financial Planning
Imagine Your Future Set YourGoals Chart Your Course The Importance of Financial Planning Ask yourself these questions: Financial Planning Provides Direction and Discipline It s important to know where
More informationThe POCKET LAWYER Self-Help Series
The POCKET LAWYER Self-Help Series Understanding California Revocable Living Trust Agreements The information in this brochure is for educational purposes only and is intended to assist you in preparing
More informationPlanning Strategies for Charitable Remainder Trusts
Planning Strategies for Charitable Remainder Trusts Using a Deferred Annuity 6/13 23179-13A CRT Planning with Your Clients 1 Identify clients and prospects who are: o Charitably inclined. o Interested
More informationServing Generations Who Put Their Trust in Us
The RBC Trust Advantage Serving Generations Who Put Their Trust in Us RBC Trust Company (Delaware) Limited A Dynamic Tradition of Trust Services At RBC Trust Company (Delaware) Limited, we steer clear
More informationUSING IRA ASSETS TO ADDRESS YOUR WEALTH TRANSFER GOALS
U.S. TRUST FIDUCIARY SERVICES FOR MERRILL LYNCH CLIENTS USING IRA ASSETS TO ADDRESS YOUR WEALTH TRANSFER GOALS Trusteed IRAs from U.S. Trust Working together, Merrill Lynch and U.S. Trust bring you the
More informationA Proactive Approach to Estate Planning as a Family
TABLE OF CONTENTS 2 What to focus on 2 Selecting Fiduciaries 4 Special Planning Issues 5 Planning for Aging Parents 6 Planning for Your Own Care 7 Easing the Family Burden on Death A Proactive Approach
More informationFinal Affairs: (Estate) Planning is a Good Thing
Final Affairs: (Estate) Planning is a Good Thing Senior Ministries of the Episcopal Diocese of Newark St. Luke s Episcopal Church Montclair, NJ March 14, 2015 Lance T. Eisenberg, Esq. Berkowitz, Lichtstein,
More informationRetirement Planning and Wealth Management
Retirement Planning and Wealth Management Kurt Rohrs Principal Advisor, Inc. www.swretire.com About, Inc. Principal Advisor Kurt Rohrs is the Principal Financial Advisor with, Inc. specializing in Financial
More informationESTATE PLANNING QUESTIONNAIRE
ESTATE PLANNING QUESTIONNAIRE MALOUF NAKOS SWINSON & JACKSON, P.C. Merit Tower 12222 Merit Drive, Suite 1000 Dallas, Texas 75251 Tel: (214) 273-0600 Fax: (214) 273-0601 General Personal Information FAMILY
More informationUBS Deposit Account Sweep Program Disclosure Statement
UBS Deposit Account Sweep Program Disclosure Statement Contents Summary 3 How the Program Works 4 Eligibility 4 Deposit Procedures 4 Withdrawal Procedures 4 Sweep Limit or Cap Election 4 Interest Rates
More informationWill and Living Trust information Packet
Will and Living Trust information Packet University of the Nations Gift Planning Services 75-5851 Kuakini Hwy, #433 Kailua-Kona, Hawaii 96740-2199 Phone 808-326-4453 Dear Friend of YWAM Kona, Many people
More informationAsset Protection and Family Conversations
Asset Protection and Family Conversations Designing a comprehensive plan to help provide for your loved ones for generations to come LOREM IPSUMCONSEQUAT Table of Contents 1 Watching over your family s
More informationYear End Gifts and Investments
Wealth Planning Year End Tax Tips The end of every year poses a critical deadline for utilizing certain tax benefits. The following covers various items to address in your annual tax, estate, retirement
More informationGIFT ACCEPTANCE POLICIES
GIFT ACCEPTANCE POLICIES The Montana Community Foundation (MCF) solicits and accepts outright gifts with income dedicated immediately to the charitable needs of the community, planned gifts with split
More informationWealth management for LGBT couples
Wealth management for LGBT couples Creating a financial strategy for you and your partner Whether you and your partner are legally married or not, implementing a sound strategy, with the proper documentation
More informationLarge or small, whatever the size of your estate, it is important to plan. If you do not
Starting to Plan Your Estate Large or small, whatever the size of your estate, it is important to plan. If you do not have a will, a court will select your heirs and distribute your property as prescribed
More informationL E G A L F A C T S O F L I F E
T H E S TAT E B A R O F C A L I F O R N I A DO I NEED A LIVING TRUST? GET THE L E G A L F A C T S O F L I F E 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Do I need a living trust? What is a living trust?
More informationSpecial Needs Trust. What are special needs? What is a special needs trust? When is a special needs trust appropriate?
Special Needs Trust THE PRUDENTIAL INSURANCE COMPANY OF AMERICA Parents and families of children with special needs face incredible tasks on a daily basis. Family life revolves around the child. 1 Throughout
More informationExecuting an Integrated Approach to Estate Planning and Wealth Management
Executing an Integrated Approach to Estate Planning and Wealth Management By James R. Cody Director, Estate and Trust Advisory Services Harris mycfo, LLC Well-intentioned estate planning often fails to
More informationAnnuity Maximization. Annuities are designed for retirement income What if you do not need the income? Using Life Insurance AD-OC-851A
Annuity Maximization Annuities are designed for retirement income What if you do not need the income? AD-OC-851A Annuity Maximization The Situation Deferred annuities have traditionally been a vehicle
More informationLife Insurance Review Using Legacy Advantage SUL Insurance Policy
Using Legacy Advantage SUL Insurance Policy Supplemental Illustration Prepared by: MetLife Agent 200 Park Ave. New York, NY 10166 Insurance Products: Not A Deposit Not FDIC-Insured Not Insured By Any Federal
More informationFINAL DETAILS Practical Considerations and A Guide for Survivors When Death Occurs
FINAL DETAILS Practical Considerations and A Guide for Survivors When Death Occurs The death of a spouse or loved one is a very difficult time. Yet even during this period of grief and emotional readjustments,
More informationTrust Services Overview
Trust Services Overview Independent Wealth Management Advisors PACIFIC PORTFOLIO Two Union Square 601 Union Street, Suite 4343 Seattle, Washington 98101 Phone: (800) 249-6426 Fax: (206) 623-6653 www.pacific-portfolio.com
More informationFamily Records Organizer
Family Records Organizer Family Records Organizer: Creating A Well-Ordered Life Keeping important documents and financial records organized and readily available is one of the best gifts you can give those
More information> ACCOUNT SETTLEMENT AT HOME FEDERAL BANK
Account Settlement Guide for Survivors 1 INTRODUCTION We realize that the loss of a loved one can be a difficult and overwhelming time for you and your family, so we hope this guide will simplify the account
More informationABILITY TO TRANSFER "S" CORPORATION STOCK TO INTER VIVOS TRUSTS (Business Advisory No. 10)
ABILITY TO TRANSFER "S" CORPORATION STOCK TO INTER VIVOS TRUSTS (Business Advisory No. 10) Over the years, we have found that many of our clients elect to transfer their shares of "S" corporation stock
More informationWhite Paper: Using Cash Value Life Insurance for Retirement Savings
White Paper: Using Cash Value Life Insurance for Retirement Savings www.selectportfolio.com Toll Free 800.445.9822 Tel 949.975.7900 Fax 949.900.8181 Securities offered through Securities Equity Group Member
More informationPlease complete and sign this Application, along with any required supplemental forms identified through this application process.
Retail Brokerage Account Application About this Application This is a. Please read it carefully, as you will select products and services, tell us how you want to communicate with us, and agree to certain
More informationLIFE TERM. Guaranteed Level Term. Protection. Flexibility. Value.
LIFE TERM Guaranteed Level Term Protection. Flexibility. Value. Life. your waysm Strive to live your dream and plan for the if in life. Discover the flexibility of life insurance protect and transfer wealth
More informationUSAA Wealth Management & Military Officers Association of America
USAA Wealth Management & Military Officers Association of America Views and opinions expressed in this seminar are provided for informational purposes only and are subject to change. This discussion should
More informationEVERYTHING YOU OWN & EVERYONE YOU CARE ABOUT. An Estate Planning Primer
EVERYTHING YOU OWN & EVERYONE YOU CARE ABOUT An Estate Planning Primer For The Clients Of 7350 Cirque Drive W, Suite 201 University Place, WA 98467 (253) 759 8354 www.ppatpa.com Presented By T. Gary Connett
More informationFINANCIAL LIFE CHECKUP
FINANCIAL LIFE CHECKUP Full Legal Name Nick Name Client Spouse Gender Male Female Male Female Home Address City, State, Zip Home Phone ( ) ( ) Work Phone ( ) ( ) Cell Phone ( ) ( ) Fax ( ) ( ) Best Time/Method
More informationPRELIMINARY FACT FINDER
CLIENT INFORMATION Family Information Client Spouse Full Name (First, MI, Last) Date of Birth (MM/DD/YYYY) Social Security # Drivers License # / State Address City / State / Zip Home Phone # Business Phone
More informationPLANNING AND PRESERVING YOUR LEGACY
PLANNING AND PRESERVING YOUR LEGACY LOCAL Wintrust Wealth Management s Trust Group The Chicago Trust Company, N.A. has proudly served the trust and estate planning needs of individuals and institutions
More informationPROBATE AND ESTATE ADMINISTRATION
PROBATE AND ESTATE ADMINISTRATION in Bucks County, Pennsylvania A Guide for Executors and Administrators in Bucks County The purpose of this guide is to provide a concise overview of the probate and estate
More informationBe Your Clients' Hero: Decision Time for Income Tax Reduction as Trust Taxes Soar. Volume 8, Issue 12
Be Your Clients' Hero: Decision Time for Income Tax Reduction as Trust Taxes Soar Volume 8, Issue 12 Income Tax Options Run Out December 31 for Non- Grantor Trusts! Most clients and advisors have not yet
More informationt r u s t & w e a lt h m a n a g e m e n t Specializing in: Trustee, Investment Management, Conservatorship, and Estate Settlement Services
t r u s t & w e a lt h m a n a g e m e n t Specializing in: Trustee, Investment Management, Conservatorship, and Estate Settlement Services I n t ro d u c i n g T ru s t & W e a lt h Manag e m e n t regon
More informationAfter the loss of a loved one. A guide to estate settlement
After the loss of a loved one A guide to estate settlement We re here to help The loss of a loved one can be one of life s most difficult times. In addition to the grief, there s the matter of settling
More informationA Guide to Planned Giving. your Mills your legacy
A Guide to Planned Giving your Mills your legacy MILLS COLLEGE, a thriving liberal arts college for women with graduate programs for women and men, is a very special institution. Since Mills founding in
More informationLimited Power of Attorney (LPOA)
Limited Power of Attorney (LPOA) Page 1 of 3 Investment Advisor ( IA ) Information (This portion to be completed by IA.) IA Firm Name (Please print.) IA Master Account Number Service Team Advisor Contact
More informationTHE FAMILY GUIDE TO ESTATE PLANNING
THE FAMILY GUIDE TO ESTATE PLANNING Learn about what makes up a good estate plan, beginning with the questions to ask before you even get started. Plus, you ll understand: Why executors, guardians and
More information