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PLANNING TODAY FOR TOMORROW - ESTATE PLANNING: 2 Part Series

Thursday, April 15, 2021 3 Iyyar 5781

7:00 PM - 8:00 PM 1 week after

First Part of the 7 Week Program Discussing: The Finances, Legalities, Ethics, And Morals Associated with Jewish  Afterlife Planning

 

 

Thursdays, April 15 and  April 22, 2021 at 7 PM ET

Hosted by Daniel Bensimon, Esq. of Dorot & Bensimon PL, a boutique law firm specializing in domestic and international personal wealth and business planning, and Attorney Jeremy Radnor, of Stokes McMillan Antúnez Martinez-Lejarza P.A., a full-service Florida trusts and estates law firm.

 

1. Wills:

  1. i. When a person dies without a will, Florida law (and many other states) determine the disposition of one’s assets

ii. Having a will is the simplest and best-known way to direct your assets after death. It provides you with the power to decide what is in the best interests of your family, pets, and charitable interests after you are gone.

iii. Only 42% of Americans have a will in place.

iv. This class will discuss:

  • Treatment of a surviving spouse
  • What happens if there is no spouse
  • Children
  • Charitable donations
  • Other interests
  • Required provisions for a legal will
  • Common misconceptions and errors in wills

2. Trusts:

i. An alternative tool for passing assets to your beneficiaries while avoiding expensive and time-consuming probate court proceedings.

ii. Provides asset protection

iii. Can provides for additional levels of control of assets both before and after death.

iv. Potential tax benefits.

v. Can provide for care and well-being of any age beneficiary

vi. We will discuss various trust designations such as:

  1. Revocable and Irrevocable trusts
  2. Marital trusts
  3. Spousal lifetime trusts
  4. Bypass trusts
  5. Special needs trusts
  6. Asset protection trusts
  7. Life insurance trusts
  8. Generation skipping trusts
  9. Charitable trusts

 

3. Beneficiary Designations:

i.  A powerful legal document that can take precedence over a will. 

  • Consider who and what is important to you in your life

4. Durable Power of Attorney

i. Allows someone to make decisions on your behalf. An important document that will ensure your wishes are carried out in terms of financial and legal decisions in the event that you cannot make these decisions.

5. Healthcare Power of Attorney and living will:

i. A healthcare power of attorney ensures that someone can make medical decisions for you in the event that you were to become incapacitated.

ii. A living will explain in advance what kind of care you may or may not want. It spells out medical procedures you may or may not want as well as preferences for other decisions such as organ donations and pain management. 

6. Probate:

i. What are the implications and potential pitfalls of probate?

 

 

 

 

 

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Wed, April 14 2021 2 Iyyar 5781