5 THINGS ABOUT
PARENTS SHOULD SHARE WITH KIDS
5 Things About Estate Planning Parents Should Share With Kids by Stefanie West, Esq. - 46:24
Many people think that only the “wealthy” need to make estate plans, and that they will be in adequately sound health to make decisions through end of life. Reality however is very different. Whether you are an Early Career, Mid-Career or Late Career individual, life events such as a divorce, an accident, or illness can radically change your life as well as your asset protection and control.
A trust is a legal tool used in estate planning to ensure maximum control and protection of your assets and your wishes during your lifetime, and to enable your loved ones to inherit your assets with minimal costs while saving time and hassle.
It is widely suggested that you have an estate plan to make sure your wishes are carried out if you:
own real property,
have minor children or a blended family,
have intellectual property (IP) or other properties of real financial value or emotional value,
have any financial accounts or retirement accounts, or
want to plan for aging gracefully and carrying out your wishes for end of life
In this webinar, estate planning and elder law attorney Stefanie West discusses five common mistakes parents make in their estate plans that can impact their wishes and affect asset protection strategies being carried out properly:
Have you titled any accounts with your children?
Where are the Estate Planning documents? Safety deposit box key?
Do you hide your assets? Jewelry? Personal effects?
Did you loan or gift money? Were those items gifts or loans?
What are your “End of Life” wishes?
Stefanie West is an experienced attorney in estate planning, wills, trusts, probate, Medi-Cal planning for individuals requiring long term care, and elder laws.