Estate Planning Basics - including overview of intestacy, types of wills, types of trust, Advance Health Care Directives, and Powers of Attorney for Finance
1. Presented by Sheri Sudweeks
750 University Avenue, Suite 140,
Los Gatos, CA 95032
(408) 354-0200
www.sugaisudweeks.com
1
2.
No will or trust
Distributions based on statutory scheme
Court must designate administrator (priority is
statutory)
Guardianship issues
Full distributions to anyone 18 or over
Sheri Sudweeks
2
3.
Real Estate Held in Joint Tenancy
Bank accounts held in Joint Tenancy
Accounts with Pay on Death Provisions
Assets with Beneficiary Designations
Insurance policies with Beneficiary
Designations
Automobiles
Property held in trust
Sheri Sudweeks
3
4.
Designate who gets your stuff
Nominate the guardian of your children
Nominate an Executor to take care of your
final affairs
Sheri Sudweeks
4
9.
Joint Trust
Provisions of Trust
By-pass and Q-tip elections
Successor Trustee
Duties and Liabilities
•
•
•
•
•
Beneficiary notification
Taxes
Marshalling of Assets
Distribution
Accounting
Role of Attorney and Accountant
Sheri Sudweeks
9
10.
Not in trust unless titled to trust
Schedules
Deeds
Bank Accounts
Retirement funds
Other Assets
Automobiles
Personal Property
Refinancing Property in Trust
Sheri Sudweeks
10
11.
Power of Attorney For Health Care
Living Will
National Death Act Declaration
DNR
Instructions for Health Care
Sheri Sudweeks
11
12.
Executed Prior to 1997
Executed Prior to July 2000
Executed Prior to 2004
Have you signed a generic hospital form that
revoked your document?
Sheri Sudweeks
12
14.
License to Steal v. Necessity for
Security
Access to non-trust assets
Gifting
Public benefits planning
Durable
Springing
Sheri Sudweeks
14
15.
What if I change my mind?
What happens if I die or become
incapacitated and there is stuff that is
outside of my trust?
Who gets to see my trust or will?
Where do I keep my estate planning
documents?
How often do I need to update my trust or
will?
How expensive is it to get a trust or will?
Are there any good resources for DIY trusts
and wills?
Sheri Sudweeks
15
16. Thank you for attending
750 University Avenue, Suite 140
Los Gatos, CA 95032
(408) 354-0200
www.sugaisudweeks.com
Sheri Sudweeks
16