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Beyond the Paperwork: A Conversation About Estate Planning

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Presentation on theme: "Beyond the Paperwork: A Conversation About Estate Planning"— Presentation transcript:

1 Beyond the Paperwork: A Conversation About Estate Planning
Moderator: Steve Merlin, J.D Cohen Pollock Merlin Turner, P.C. Presenters: Jake Kaplan, M.B.A.,J.D. Alston & Bird, LLP Blair Rothstein, J.D, CFP Register Financial Associates Rabbi Ari Kaiman Congregation Shearith Israel

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3 Estate Planning Defined
Plan for me and my loved ones if I become disabled through powers of attorney Give what I have by Will, Trust, beneficiary designation or ownership structure To whomever I want The way I want When I want

4 The Basics What do I need: Health Care Directive
Financial Power of Attorney Will or Trust Asset information and PASSWORDS “Just in Case” File

5 Common Planning Techniques
Owning property jointly Designating a beneficiary Signing a Will Creating a Living Trust

6 Typical Plan Estate Assets Non-probate transfers
Property titled in your name Jointly owned property Life Insurance IRA’s 401(k)’s Annuities Probate Process Your Will Planned Distributions

7 Probate: What is it? The legal process by which title to property is transferred from the deceased to his or her beneficiaries as designated in a Will. It may include: Bank Accounts Real Estate Automobiles Brokerage Accounts Stocks, Bonds

8 Common Pitfalls and Problems
Survivors lack information about financial affairs and digital assets Surprises Titling of assets Out of date documents Beneficiary designations Wills

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10 Jewish Law Orthodox Halacha provides that:
A husband inherits from his wife A wife does not inherit from her husband Sons inherit from their parents Daughters do not inherit (unless there are no sons) firstborn sons are entitled to a double distribution of certain assets

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