Welcome!

What does your pie look like?

???

? ?

SLEEP WELL PLAN

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.

INTESTASYDYING WITHOUT A WILL OR TRUST

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.

WILL OR LIVING TRUSTYOUR CHOICE

Will: A written legal document signed and witnessed directing the distribution of your property.

Living Trust: A legal document to which ownership of property is transferred and a trustee is appointed and which distributes your property according to the terms created in the trust.

Which is best for me? Will or Living Trust?

ACCIDENTAL DISINHERITANCEA TRAP TO AVOID

The unintended consequence of intestacy or a poorly or 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.

ELEMENTS OF A SLEEP WELL PLAN

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

CURRENT WILL AND LIVING TRUST

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

DURABLE POWER OF ATTORNEY FOR FINANCES

Avoid fraud or misrepresentation

Legal authority to manage your property under defined circumstances

Able to choose best representative while competent to do so

DURABLE POWER OF ATTORNEY FOR HEALTHCARE

Two primary documents: Durable Power of Attorney Living Will

Combined into an Advanced Directive document

REAL ESTATE AND RETIREMENT FUNDS

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

INSURANCE

Long Term Care Insurance

Life Insurance

Annuities

Cost – Benefit Analysis

LEGACY GIFTING OPTIONS

Why A Legacy Gift?

Life Income Gifts

Charitable Trusts

Bequest Giving

Gifting Through Titling of Assets

WORKSHEETS 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

WHAT DO I DO NOW?

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.

GIFTING TO CHARITYMARYMOUNT COLLEGE /THE PENINSULA SENIORS

Tom ZajacMARYMOUNT COLLEGEMajor/Planned Gifts Officer

Development30800 Palos Verdes Drive EastRancho Palos Verdes, CA 90275

Ph. (310) 303- 7625, Fax: (310) 303-7284Email: tzajac@marymountpv.edu

YOUR PIE

ChildrenSpouse

RelativesCharity

Friends

THANK YOU