3. ? ?
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4.  Gather all information needed to create your plan
 Consult those closest to you to help make optimum
decisions
 Share information with trusted advisors
 Review and execute documents and provide them
to executors or trustees.

5.  California laws of intestate succession are used to
determine who will inherit your estate.
 As a “community property” state, transfer of
property, even when a will or trust is in place, can
be more complicated requiring good professional
advice.
 Examples of distribution of decedents property
according to California intestacy laws.

6. Will: A written legal document signed and witnessed
directing the distribution of your property.
Living Trust: A legal document to which ownership of
property is transferred and a trustee is appointed and
which distributes your property according to the terms
created in the trust.
Which is best for me? Will or Living Trust?

7. The unintended consequence of intestacy or a poorly
or incorrectly drafted will or living trust.
How to avoid Accidental Inheritance:
 Gather all pertinent information accurately
 Consult with family and friends if appropriate
 Consider all personal passions and legacy giving
 Consult with trusted professional advisors when
drafting documents.

8.  Current Will or Living Trust
 Durable Power of Attorney for Finances
 Durable Power of Attorney for Healthcare
 Proper Distribution of Real Estate and
Retirement Funds
 Use of Insurance
 Legacy Gifting Options

9.  Wills and trusts are “living” documents requiring
periodic review and updating
 What is a codicil?
 Trust titling and “pour over will”
 Trustee and Executor selection and periodic review

10.  Avoid fraud or misrepresentation
 Legal authority to manage your property under
defined circumstances
 Able to choose best representative while
competent to do so

11.  Two primary documents:
 Durable Power of Attorney
 Living Will
 Combined into an Advanced Directive document

12.  How Real Estate and Retirement Plans are
transferred at death:
 By title
 By beneficiary designation
 By will or trust
 Tax trap for transfer of retirement assets

13.  Long Term Care Insurance
 Life Insurance
 Annuities
 Cost – Benefit Analysis

14.  Why A Legacy Gift?
 Life Income Gifts
 Charitable Trusts
 Bequest Giving
 Gifting Through Titling of Assets

15.  Personal information on you and your family
 Define your estate planning goals
 Take inventory of your current situation
 Select person for role as Healthcare Power of Attorney
 Select person for role as Financial Power of Attorney
 Take inventory of assets: real estate, bank accounts,
investments, and personal property
 Take inventory of liabilities: mortgages, vehicles, credit
card accounts, loans and other debts
 Estate Plan details

16.  Complete the workbook accurately.
 Engage professional advisors, especially if you have
unique assets, blended family issues, or specific
questions.
 Contact your charities of choice about legacy
gifting. Call me with specific questions about
legacy gifts in general or gifts to Marymount
College or the Peninsula Seniors.

17. Tom Zajac
MARYMOUNT COLLEGE
Major/Planned Gifts Officer
Development
30800 Palos Verdes Drive East
Rancho Palos Verdes, CA 90275
Ph. (310) 303- 7625, Fax: (310) 303-7284
Email: tzajac@marymountpv.edu

18. Spouse Children
Charity Relatives
Friends