Is Your Estate in Good Hands?

Is Your Estate in Good Hands?

After acquiring numerous assets and valuable belongings, the need for an up-to-date estate plan becomes very important. When you have an updated plan, you can ensure that the people and causes you care about receive what you intend after you are gone. It is important when making updates to seek the counsel of an estate planner who will work for your particular situation.

Many types of professional advisors can call themselves estate planners—lawyers, financial advisors, life insurance sales people—so be sure to know the credentials of the person you are working with, how they get paid, and their education and experience.

Red Flags
Following are examples of behaviors that should raise a red flag about a professional advisor.

Advisors who won’t share information or tell you what they’re doing. Pamela Davidson, an attorney in Bloomington, Ind., who specializes in charitable gift planning, says this often happens because the professional doesn’t know what to do but won’t admit it, or the person neglected to do something such as filing income tax or court documents.

Advisors who pressure you into naming them or their families in documents. Davidson recalls a situation where an attorney gained control over a man who was estranged from his family. When he rewrote the client’s will, the attorney named his own son as beneficiary of the estate.

These kinds of problems may pop up more often when the client has no heirs or is separated from people who might serve as a second pair of eyes.

We Can Help
Once you feel confident that your plan is in good hands, consider including a gift to Casa Pacifica. This can be a simple way to extend the support you have offered throughout your lifetime. We can help you determine how to plan your gift to best fit your needs and ours. Just contact Vicki Murphy at (805) 445-7804 or .(JavaScript must be enabled to view this email address).

Discover creative ways to support Casa Pacifica.

Need an Advisor?
One of the best ways to find a potential estate planning advisor is by talking to friends or family. If you already have an accountant, ask if he or she knows of qualified professionals that could assist you with your situation.

Copyright © The Stelter Company, All rights reserved.

The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.