Law Offices of Irene S. Gold

04/21/2023

12/05/2019

YOUR VACATION CHECKLIST

You’ve packed sunblock and a beach novel. You’ve planned your itinerary and bought plane tickets. But have you ensured that your estate plan is up to date?

Don’t leave home without making sure your financial health and the future of your loved ones is provided for. It’s even more crucial than getting a pet sitter and locking the front door.

Creating an Estate Plan
If you don’t have an estate plan yet, don’t panic. Now is a great time to connect with a qualified estate planning attorney who can sit down with you and get you started with an appropriate plan for your financial future.

Here are some questions to begin the process:

1. Do you have a will? An attorney can help you create an accurate and intentional will if you do not already have one.
2. Have you considered using a trust? Trusts have considerable benefits, from keeping assets safe from creditors to dividing an estate equally without worrying about the status of individual assets.
3. Are your children protected? An attorney can help you designate a guardian to care for your minor child in the event you are unable to. An attorney can also help you name an adult who will manage your minor child’s inherited property if you pass away. These may or may not be the same people.
4. Have you considered life insurance? If you anticipate leaving behind significant debt or hefty estate taxes, or if you have small children, you may want to consider a life insurance policy. Knowing your dependents are provided for will give you peace of mind.
5. Is your business protected? If you own a business, have you named a proxy to manage your interest if you cannot? Do you have a business succession plan? If you co-own a

business, have you drawn up a buyout agreement? An attorney can help with that as well.

Pour-Over Wills: A Useful Tool
Considering a trust-based estate plan? It’s a great way to ensure that your assets are divided and protected in exactly the way you want. It can also help your beneficiaries avoid the expensive and lengthy process of probate, when an estate must be organized and distributed through a probate court. But as you may know, gathering the needed documents may be time-consuming.

If you need to complete an estate plan before leaving on a vacation and are unable to fully fund your trust, you may want to consider using a pour-over will in the interim.

A pour-over will stipulates that all assets that have not yet been funded into your trust will be put there when you pass away. Your trust becomes the beneficiary of any assets that you may not have had time to transfer there. In a crunch, it can serve as a stop-gap measure while your trust- based plan is being funded.

Trust, but Verify
Have you already created an estate plan? That’s great! It’s still important to verify that all provisions made in the estate plan are exactly as you want them.

Here are some items to confirm before leaving town:

Are your assets accurately inventoried? Have you left out any important assets or neglected to report changes?
Are your beneficiary designations accurate? Are your assets going where you would like them to?
When was the last time you reviewed your selection of fiduciaries? Being named as someone’s Personal Representative, Successor Trustee, Agent under a Power of Attorney, etc. can be a time consuming job. It is important that you review your selections periodically to ensure that those people are still the best choice to act on your behalf.

Contact Us Today
Estate planning with a trusted attorney is an important part of ensuring your financial health and preserving the legacy you’d like to leave to your loved ones. As you’re preparing for summer travel, don’t neglect your estate plan. We can help you put a plan in place that will reassure you and your family. Contact us today to plan for your tomorrow.

BROUGHT TO YOU BY:
LAW OFFICES OF IRENE S. GOLD
LICENSED IN CALIFORNIA & PENNSYLVANIA

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12/12/2018

Estate Planning Projects to Tackle in the New Year

As the end of the year approaches and you begin to look back on 2018, what changes need to be reflected in your estate plan? Have you gotten married or divorced in the past year? Perhaps you’ve welcomed a new child or grandchild, or experienced a change in your health. So much can change in a year, and it’s important not to let too much time pass before those changes are reflected in your plan.

Just like you need to stay in regular contact with financial advisors, primary health care providers, and accountants, your estate plan will serve you best when it’s kept up to date with the changes that shape your life.

Keeping your estate plan current with each new significant development in your life is much more efficient than having to do a comprehensive overhaul later on. The end of the year is the perfect time to take stock of any changes regarding the individuals listed in your estate planning, like fiduciaries or beneficiaries, in case adjustments are required.

Your End-of-Year Checklist
Many people find that estate planning — whether it’s embarking on creating a new plan or updating an existing one — can feel overwhelming. A checklist cuts through the mental clutter and allows you to focus on the most important decisions so you can protect yourself and your family.

Use this handy checklist to prioritize your time.
❏ Has your family welcomed any new children or grandchildren?
❏ Has anyone named as a fiduciary (successor trustee, agent, or health care agent) in your plan passed away this year?
❏ Have you gotten married?
❏ Has this year involved a divorce for you or any of your fiduciaries or beneficiaries?
❏ Have you changed your preference about who is listed as a trustee?
❏ Have you changed your preference about who is listed as an agent?
❏ Have you changed your preference about who is listed as a health care proxy?
❏ Do you want to change who’s appointed as your children’s guardian?
❏ Is there a pet caretaker you would like added or removed?
❏ Have you had a significant increase or decrease in your net worth?
❏ Have you changed jobs or purchased a business?
❏ Did you move to a new home?
❏ Did you sign your will or trust before 2013?

If the answer to any of these questions is “yes,” your estate plan requires our attention soon. As we head into 2019, start your year off on the right foot by taking a few moments to see what projects you should prioritize. Give us a call so we can discuss.

09/08/2017

Our office offers Russian speaking notary services in addition to legal services.

12/16/2016

With holidays and holiday travel fast approaching, please take time to make sure you have an estate plan in place to protect your loved ones, in case something happens to you.

08/09/2016

We are now offering Skype consultations to our clients!

12/08/2015

Welcome to our law office!

05/13/2013

http://youtu.be/Wj10OyO3Icg

Irina S. Puhachevsky, Attorney At Law practicing Family Law, Estate Planning and Bankruptcy in San Francisco Bay Area with Office in Daly City, CA

05/13/2013

our new site, please let us know if you like it. www.puhachevskylaw.com