Living Trust Planning | Estate Planning Attorney

Category: Living Trust

  • Protecting Your Family’s Safety Net: How to Set Up Your Life Insurance Policy The Right Way

    Protecting Your Family’s Safety Net: How to Set Up Your Life Insurance Policy The Right Way

    A comprehensive Life & Legacy Plan is about creating a strategy that lets you enjoy your life to the fullest while protecting your loved ones’ future when you can no longer be there. It might seem like life insurance is an easy way to help secure your loved ones’ future – and it is – but your policy must be set up in the right way to have the best possible impact on your family.

    The way you set up your beneficiary designations on your insurance policy can significantly impact its effectiveness, how it’s used, and who controls it after you die. In this blog, we’ll explore how not to name beneficiaries on your life insurance and how to name beneficiaries to ensure your loved ones have the funds they need to thrive when something happens to you. 

    DO NOT Name a Minor As The Beneficiary of Your Life Insurance Policy  

    Naming your child or grandchild as a direct (or even backup) beneficiary of your life insurance policy may seem like a natural choice, but if you do that, you’re guaranteeing a bad outcome for the people you love.

    First of all, if a minor child is the beneficiary of a life insurance policy, it guarantees a court process called “guardianship” or “conservatorship” must occur to name a legal guardian or conservator to manage the assets for your minor beneficiary until they turn 18. Then, at 18, your minor child who is just barely an adult receives everything left in the account, outright, unprotected, with no oversight or guidance. This is the worst possible outcome for everyone involved. 

    If you’re buying life insurance, you’re doing it to make the lives of your loved ones better. We often say “insurance says I love you.” But naming a minor child as a beneficiary doesn’t say I love you; it says that you didn’t take the time to set your life insurance up the right way. You might think the answer is to name a trusted family member or friend as the beneficiary of your life insurance, hoping they’ll use the funds for your kids, but don’t do that! 

    If you name another adult as the beneficiary for a life insurance policy intended for your kids, your kids will have no legal right to the money – which means the adult you named as beneficiary can use the money however they want and don’t have to use it for your kids at all! 

    So what’s the solution? Keep reading to find out what to do instead.

    DO NOT Name Adult Beneficiaries Directly or They Risk Losing The Money Entirely

    Direct payouts to adult beneficiaries may seem straightforward, but can have unintended consequences. Life circumstances change, and the lump sum received from a life insurance policy might be at risk if not managed properly. By avoiding direct payouts, you can ensure that the financial security provided by the insurance is preserved for the long term.

    One key concern is the potential for beneficiaries to hastily misuse or exhaust the funds. A sudden windfall might lead to imprudent spending, leaving your loved ones without the financial support you intended. Additionally, if your beneficiaries aren’t financially savvy, they may struggle to manage a lump sum effectively, meaning the policy might lose money over time.

    Even if an adult beneficiary is financially responsible and savvy – or knows enough to speak to a financial advisor – life events can put the funds at risk. Because the life insurance proceeds now belong entirely to your beneficiaries in this case, the proceeds of the policy are now completely vulnerable to any future divorces or lawsuits that your beneficiary may go through in the future.

    That means that if your beneficiary is divorced, sued, or accumulates debt, all the money they received from your insurance policy could be lost.

    Plan For Your Life Insurance The Right Way: Use a Trust 

    A trust is an agreement you make with a person or an institution you choose. This person is called your trustee, and their directive is to manage the assets you put into or leave to your trust, according to the rules you create. 

    Instead of naming minors or adult loved ones as the direct beneficiaries of your life insurance, name your trust as the beneficiary of your policy instead. By doing this, your loved ones will still receive the funds you intend for them while maintaining control over how the funds are managed and distributed. This ensures that your wishes for your assets and your loved ones are carried out even after you’re gone. 

    How does it work?

    A well-drafted trust allows you to specify conditions for distributing the trust funds, ensuring that the funds are used for intended purposes such as your beneficiaries’ education, homeownership, or other specific needs. Distributions from the trust can also depend on the ages and circumstances of each beneficiary. This level of control can prevent the misuse of funds and promote responsible financial behavior for everyone involved. Plus, assets held in a trust bypass the probate process, ensuring a more efficient and timely distribution of funds to your beneficiaries. This can be crucial in providing immediate financial support to your loved ones when they need it the most. 

    While you can choose to have your trustee distribute life insurance proceeds directly to your beneficiaries outright at specific ages and stages, you may want to provide even more protection for your beneficiaries. One of the considerations we’ll help you make is whether to retain the assets in trust, giving your beneficiaries control over the trust assets, but in a manner that keeps the inherited life insurance protected from lawsuits, future divorces, and creditors.

    Let Us Set Up Your Entire Plan In The Best Way Possible

    Setting up your life insurance policy with the right beneficiaries involves careful consideration of your unique family dynamics, financial goals, and long-term objectives while being proactive to avoid future issues. By doing so, you maximize the benefits of your life insurance to provide a lasting legacy of financial security and support for your loved ones. 

    But planning for your life insurance is only one step in creating a plan for everything you own and everyone you love today and in the future. My mission is to guide you to create a comprehensive estate plan, which I call a Life & Legacy Plan, that ensures your wishes are fulfilled and your family’s future is protected no matter what the future holds.

    Schedule a complimentary call with my office to learn more.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Building an Estate Plan for Adult Children with Disabilities

    Building an Estate Plan for Adult Children with Disabilities

    Parents of adult children with disabilities know that their child’s disability needs may change over the course of their lifetime. Planning for the future well-being of an adult child with disabilities is, therefore, a responsive, ongoing process. 

    The life expectancy of many adults with disabilities has increased over time. For example, according to research, life expectancy for adults with Down Syndrome rose from 25 in 1983 to 60 in 2020. Those with cerebral palsy, the most common motor disability of US children, may often live into their 50s.

    The ever-increasing life expectancies of people with disabilities mean that comprehensive special needs planning requires short- and long-term planning. The following five elements are key to laying the foundation to ensure a successful support system for your adult child: 

    1. Vision

    2. Living Arrangements

    3. Government Resources

    4. Private Financial Resources

    5. Legal Needs: Special Needs Planning Attorneys

    Vision

    How do you envision your adult child’s life after you’re gone? As you define and refine your vision to the extent possible, you should involve your child in the process. It’s important to focus on the strengths and abilities of the adult child, not just the challenges of their disabilities. This involvement helps promote self-esteem and independence to the highest degree possible.

    Letter of Intent (LOI) 

    Although this letter is not a legal document, it provides important information about your child’s routines, preferences, and wishes. The LOI can and should be extremely detailed, including comprehensive medical information. It also may identify caregivers, providers, and others in your child’s life who serve as part of their support system. Reviewing and updating the letter at least every two years or when significant changes occur is good practice.

    Supported Decision-Making

    If your adult child is capable and in charge of decision-making, selecting a team of trusted advisors is still important. This team may include family members, professionals, friends, and community services who all participate in your adult child’s success. The National Resource Center for Supported Decision-Making has information about the right to make choices by state.

    Living Arrangements

    Where your adult child will live depends on several factors, including their disability type and available financial resources. If your child currently lives in your home, don’t wait until you die to have them move into and experience a new home. Moving can be a tough experience while you are alive but catastrophic when you are gone.

    Housing for People With Disabilities

    • Your home – It’s great if you can leave your residence to your child in a special needs trust. Just be sure the trust also contains enough money to cover ongoing property maintenance, taxes, and other costs.
    • Another home – You might purchase a townhouse or condo for your child and hold the property in a special needs trust.
    • Section 8 vouchers – This federal program provides housing in the community to low-income people; however, wait lists can be long.
    • Group homes – Adults with disabilities can use private money or Medicaid payments to live in a group home. In some cases, this living situation also has counselors and other staff that can help residents live as independently as possible.
    • If assisted living is a requirement, a special needs attorney can help identify options.

    Government Resources

    Creating an outline of the individuals, services, and organizations that have become your adult child’s support system and how they are financed makes your vision for your child a reality. 

    Public Assistance Programs

    When navigating government assistance resources, it’s wise to involve a special needs attorney. They can explain how to manage assets properly to preserve your child’s access to crucial government programs.

    A person with developmental disabilities can often access the Supplemental Security Income (SSI) program. SSI guarantees a minimum income to qualifying low-income recipients. A representative payee can assist those individuals who are unable to manage their finances.

    To be eligible for Medicaid benefits, the recipient must have limited income and assets. (The limitations apply to assets not protected by ABLE or Special Needs Trust accounts.) Medicaid covers a broad range of health care costs.

    Maintaining eligibility standards and managing these benefits may be more than your adult child with disabilities can manage. You may consider identifying a reliable candidate to assist your child. It is also essential to create the structure that legally permits this designee to facilitate your child’s access to such programs.

    Many US military personnel have experienced serious physical and mental health problems. A large percentage of these service members are unmarried and under 30. For parents of veterans with disabilities, look into the Veterans Disability Compensation program. 

    There is also a benefits program for veterans with permanent disabilities, which is needs-based. The Veterans Disability Pension has eligibility requirements based on your adult child’s assets and income. A veterans specialist or disability attorney can create a special needs trust to ensure your adult child can qualify.

    Many other government programs are available to help your adult child with disabilities secure a successful future. A special needs attorney can explain more about discrimination protections outlined in the Americans with Disabilities Act (ADA), the Affordable Care Act (ACA), the Ticket to Work Program, and more.

    Private Financial Resources

    Create a realistic strategy to ensure your adult child’s safety and success when you are no longer alive Begin by creating a general framework with a special needs planning lawyer and then fill in the financial details. 

    Financial resources may include life insurance policies and other investment strategies. For example, consider funding an Achieving a Better Life Experience (ABLE) account. ABLE accounts can help your child continue living a life of safety, purpose, and impact after you are gone.

    Additionally, your lawyer can create a special needs trust appropriate for your family’s financial situation and child’s needs. This trust type provides additional monies to your adult child without them losing their ability to qualify for government benefits. There are various special needs trust types, including:

    • Third-Party Special or Supplemental Needs Trust (SNT) 
    • First-Party Special Needs Trust or Self-Settled SNT 
    • Pooled Special Needs Trusts 

    Contact Your Special Needs Attorney

    There are several legal tools that parents can use to create a lifelong plan for their adult child with disabilities, including:

    • Guardianship 
    • Conservatorship
    • Special Needs Trusts 
    • Advance Health Care Directive 
    • Durable Power of Attorney 

    Your attorney can help you determine the best option for your adult child’s future specific needs and situation.

    Legal guidance from special needs attorneys is critical; missteps can jeopardize your child’s ability to qualify for crucial government benefits programs. Provide for your child’s future success by speaking to your special needs attorney. With their expertise, you can begin your proactive planning.

  • Include Your Intellectual Property In Your Estate Plan

    Include Your Intellectual Property In Your Estate Plan

    You don’t have to be a famous producer or household name to own intellectual property. If you create music, own a business, write stories, or build gadgets in your garage, you almost certainly have intellectual property. However, because intellectual property is intangible, it’s often overlooked in estate planning.

    If you do have intellectual property, it may hold significant sentimental and even monetary value for you and the people who love you. Without properly planning for these works in your estate plan, your family could lose these valuable assets forever.

    Even if you’ve worked with a lawyer to set up your business, write a will, or file your taxes, those professionals may not be thinking about what happens to your intangible assets upon your death. Many lawyers who focus on estate planning don’t really understand the value of intellectual property and how to protect it. We do, and now so will you.

    It’s essential that you take the proper steps to not only protect these intangible assets during your lifetime but also ensure that your intellectual property is properly handled following your death. That way, the monetary and human value of your intellectual property isn’t lost forever when you die.

    Safeguard Your Intellectual Property During Life

    While you might think that identifying, protecting, and valuing your intellectual property is something that only applies to big companies and famous artists, that’s definitely not the case. Your intellectual property has sentimental value to your family and may have more monetary value than you realize, and could be of even greater value to your loved ones after you’ve died.

    The first step to take in protecting your intellectual property is to formally document it in an inventory of assets that describes what the asset is, where it’s located, and how to access it if it’s a digital or intangible item. This is something I help all of my clients create to ensure that no asset, whether tangible or intangible, is left out of their plan or lost when they die. 

    The next step is to consider if any of your intellectual property should be legally registered in the form of trademarks, copyrights, or patents with the U.S. Patent and Trademark Office. Original works are automatically copyrighted when you create them, but without legally registering your copyrights, it can be difficult to prove and enforce your copyright if someone steals your work and presents it as their own. If you’re lending, renting, licensing, or selling anything you’ve created to a third party, it’s also important to have the proper legal agreements and contracts in place to ensure there’s no question about who owns the material.

    Likewise, if you own a business and haven’t protected your intellectual property with copyrights, trademarks, patents, royalty and licensing agreements, non-competes for employees, and work-for-hire provisions in your existing agreements with independent contractors and vendors, now is the time to do so.

    Don’t wait until your intellectual property is stolen or you receive a cease-and-desist letter to put these protections in place. Registering a trademark or copyright might cost you time and money, but failing to register your original works can cost you far more than that in legal fees or the lost value of your assets, especially if your family ends up in court trying to fight for what you created.

    Protect Your Intellectual Property for Future Generations

    In addition to protecting your intellectual property during your lifetime, it’s equally important to plan for what will happen to these assets at your incapacity or death, and to protect your heirs from a potentially long and costly court battle over the ownership of your intangible assets.

    The most important thing is to make sure that your family can locate and access your intellectual property after you’re gone. Otherwise, your work could be lost forever. 

    Once you’ve created an inventory of your assets, you’ll need to make sure your loved ones know how to find your inventory so that if you die or become incapacitated they can easily locate and access your assets. Your inventory should also include how each asset is accounted for in your estate plan and whether you share ownership of any intellectual property with another person or company. 

    To make sure all of your assets are planned for in the right way, it’s imperative to meet with an estate planning attorney who has the experience and knowledge to plan for your intellectual property and protect any future income the property may generate for your loved ones.

    Your attorney should help you plan for each asset, who will inherit it, how its value will be distributed, and how income generated from it will be used, all while avoiding the need for a long and costly probate proceeding. 

    If you think this all sounds overly complicated, imagine how much more difficult it will be for your loved ones to deal with it should something happen to you. In fact, it could prove impossible for your loved ones to handle these matters in your absence, which is why it’s so important for you and your legal team to take care of these issues now. That way, your family isn’t stuck trying to clean up your mess after your death.

    Planning for All of Your Assets, In The Best Way

    While you might not be a famous author, artist, or musician (yet), you very well may have valuable intellectual property, and chances are that property hasn’t been properly documented or accounted for in your estate plan. Besides monetary value, your pieces of intellectual property are unique creations that reflect your heart, soul, and personality that your family will cherish for years to come.

    To make sure all of your assets are protected and planned for, including your intellectual assets, give us a call at (650) 600-1735. We offer expertise in documenting, valuing, and protecting your intangible assets so your loved ones can benefit from these creations for generations to come.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Choosing a Successor Trustee for Your Revocable Living Trust

    Choosing a Successor Trustee for Your Revocable Living Trust

    Introduction

    When it comes to estate planning, a revocable living trust is a popular tool for managing assets and ensuring a smooth transfer of wealth. A crucial decision you must make when setting up your trust is selecting a successor trustee who will step in to manage the trust in the event of your incapacity or passing. This article aims to guide you through the process of choosing a successor trustee and highlights their duties during incapacity and trust administration. We will also provide suggestions for individuals who may not have family or friends readily available to take on this role.

    The Importance of a Successor Trustee

    A successor trustee plays a vital role in the smooth continuation of your estate plan. They act as the fiduciary, responsible for managing the trust’s assets and ensuring your wishes are carried out when you are unable to do so. By carefully selecting the right successor trustee, you can have peace of mind that your financial affairs will be handled competently and in line with your intentions.

    Duties of the Successor Trustee

    During Incapacity:

    1. Asset Management: The successor trustee will step in to manage the trust’s assets, including investments, real estate, and personal property, ensuring their preservation and growth.
    2. Financial Management: They will handle day-to-day financial obligations such as paying bills, managing bank accounts, and keeping accurate records.

    During Trust Administration:

    1. Distribution of Assets: The successor trustee is responsible for distributing the trust assets to the designated beneficiaries according to the terms and conditions specified in the trust document.
    2. Record Keeping and Accounting: They must maintain accurate records of all transactions, prepare periodic statements, and provide accountings to beneficiaries as required.
    3. Tax Compliance: The successor trustee ensures that all necessary tax returns, including income tax and estate tax filings, are prepared and submitted promptly.
    4. Trust Protector: Some trusts may include a trust protector, who has the authority to oversee the actions of the trustee and protect the interests of the beneficiaries. The successor trustee may need to work collaboratively with the trust protector.

    Questions to Ponder While Deciding

    1. Trustworthiness: Can you rely on this person to act in your best interests and carry out your wishes faithfully?
    2. Financial Responsibility: Does the potential trustee have the necessary financial acumen to manage your assets effectively?
    3. Availability and Capacity: Will the person you choose have the time, knowledge, and ability to handle the responsibilities of a successor trustee?
    4. Communication Skills: Are they capable of effectively communicating with beneficiaries and professionals involved in the trust administration process?
    5. Objectivity and Impartiality: Can the prospective trustee make decisions objectively, without personal bias or conflicts of interest?
    6. U.S. Citizenship: If required, does the potential trustee meet the criteria of being a U.S. citizen?

    It’s important to note that the successor trustee does not necessarily have to be a family member or the same person designated to make medical decisions on your behalf. You can choose someone who is capable and trustworthy, even if they are not related to you or involved in your healthcare decisions.

    Suggestions for Individuals without Family or Friends

    If you find yourself without family or close friends who can take on the role of successor trustee, consider the following alternative:

    1. Professional Fiduciary: Engage the services of a professional trustee or fiduciary who specializes in trust administration. These experienced individuals or firms can provide the necessary expertise and impartiality to manage your trust effectively. Professional fiduciaries are licensed and regulated, offering peace of mind that your trust will be handled by qualified professionals.

    To find a professional fiduciary:

    • Seek recommendations from estate planning attorneys or financial advisors who work in the field.
    • Research and interview multiple candidates to find someone who aligns with your values and meets your specific requirements.
    • Verify their credentials, licensing, and professional affiliations.
    • Request references and speak with their current or previous clients to gauge their satisfaction with the fiduciary’s services.
    • Consider their experience, track record, and areas of expertise.

    Conclusion

    Selecting a successor trustee for your revocable living trust is a critical decision that requires thoughtful consideration. By understanding the duties and responsibilities of this role and considering the questions outlined, you can make an informed choice. Professional fiduciaries can be an excellent option for those without family or friends available to take on the role, as they bring the necessary expertise and impartiality to manage your trust effectively.

  • Estate Planning For a Child With Special Needs: Three Tools You Need to Know

    Estate Planning For a Child With Special Needs: Three Tools You Need to Know

    As a parent of a child with special needs, you’re well aware of the unique challenges that come with caring for your child’s care. You’re an expert on their preferences, routines, skills, and challenges. However, when it comes to securing their future, legal planning can seem overwhelming. You may wonder what tools are the right ones to ensure your child’s unique needs are always met.

    The good news is that there are a number of estate planning tools available to help you protect your child’s interests and provide for their needs, both now and in the future. Even better, these tools can be customized to suit the level of care your child requires, regardless of their level of independence or functioning. Here are three essential tools that every parent of a child with special needs should consider.

    01 | Ensuring A Lifetime Of Care Through Guardianship

    Without proper legal planning, you lose the ability to make decisions for your child when he or she turns 18. Guardianship is a legal relationship ordered by a court that gives someone the authority to make decisions for their adult child if they aren’t able to do so for themselves. With court guardianship, you can name yourself or someone you trust to have the authority to make decisions about your child’s medical care, education, living arrangements, and more. 

    Guardianship is a crucial tool for parents of a child with special needs and is absolutely necessary if your child has challenges that prevent them from making decisions or taking care of themselves independently. Guardianship is an important step in ensuring that your child’s needs are always met.

    Why You Shouldn’t Wait Until Your Child is Near Adulthood

    Even if your child isn’t near the age of adulthood, it’s important to nominate a legal guardian now in the event that you pass away or become incapacitated before your child turns 18. Without your nomination, your child may be left without the care of someone you trust, and the decision of who will care for your child will be up to a court that doesn’t know your child or their unique needs. Thankfully, we’re experienced in nominating guardians for minors and adults, and can walk you through the process of nominating a guardian now, and how to finalize that nomination when your child nears adulthood. We can also help you name short-term legal guardians who can care for your child on a short-term basis if you’re traveling or in the event of an emergency.

    02 | Be There For Your Child with Powers of Attorney

    While not appropriate for all people with special needs, powers of attorney are another important legal tool for parents. Whether your adult child is neurotypical or has special needs, it’s important that you retain some ability to make decisions for them in case they ask for your help or aren’t able to make decisions on their own.

    If your child is high-functioning and able to live independently, powers of attorney may be an appropriate tool to support their care. Through powers of attorney, your adult child can grant you the ability to make financial or medical decisions for them, such as scheduling doctors’ appointments, paying bills, or signing a rental agreement. Your child can also choose whether these powers make it possible for you to act on their behalf at any time or only in the event of their incapacity. Plus, powers of attorney can be customized to meet your child’s specific needs and wishes, ensuring that their care and well-being are always a top priority while still respecting their autonomy and independence.

    03 | Protect Your Child’s Financial Future with a Special Needs Trust 

    Finally, every parent of a child with special needs should consider creating a special needs trust to protect their child’s financial security. This type of trust is designed to provide extra financial support for your child while ensuring that they remain eligible for much-needed government benefits such as Medicaid and Supplemental Security Income (SSI). In fact, giving money directly to a child with special needs can actually cause them to lose their government benefits unless that money is provided to them through a special needs trust.

    A special needs trust can be used to pay for a wide range of needs, including living expenses, household items, health care, and more. And, even better, a special needs trust can be drafted so that you incentivize the people you’ve named as guardians to care for your child the way you are currently caring for them. For example, you may include instructions to financially reward caregivers who take your child to dinner or the movies, so caregivers are properly motivated to provide the kind of care you would naturally, but others may not after you’re gone. Knowing you’ve provided financial incentives for your child to have companionship and care is something many of our clients deeply appreciate.

    Ensuring Your Child Is Eligible For Government Aid

    In order for your child to remain eligible for government aid while receiving funds from a special needs trust, the trust must follow a set of regulations and reporting requirements that vary by state and can be difficult to understand. That’s why it’s crucial to work with us to develop a special needs trust that meets these requirements while being perfectly suited to your child’s unique needs. 

    Your Trusted Advisor When Planning for a Child with Special Needs

    We understand that every child with special needs is different, and that’s why we offer a personalized approach and a comprehensive range of estate planning services, including special needs trusts and legal guardianship nominations, to create a plan that’s unique to your child. If you aren’t sure where to start or what your child may need now and in the future, contact us today at (650) 600-1735. We’ll walk you through your unique situation and develop a plan that ensures your child with special needs has the physical, financial, and emotional support they need now and for years to come.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Help Your Parents Avoid These New Financial Scams – Part 1

    Help Your Parents Avoid These New Financial Scams – Part 1

    Fraudsters and scam artists are nothing new, but changing tools and technology are making it easier than ever for scammers to target their victims, especially seniors. To protect your aging parents (or yourself) from these con artists, it’s crucial to equip yourself with the knowledge of how these scams work and what your loved ones need to know to keep their assets and emotions safe.

    In this two-part series, we’ll explore four of the most recent and insidious financial scams that have surfaced, shedding light on their tactics and providing you with practical steps to shield your parents from potential harm.

    01 | THE GRANDPARENT SCAM

    One of the toughest parts about being the victim of a scam is the emotional and mental stress it usually causes. Scammers intentionally use urgency, alarm, or guilt to trick victims into making hurried decisions to send money to someone who needs “help.”  

    In the new “Grandparent Scam,” fraudsters will call or text senior adults pretending to be their grandchild. The scammer will claim that they’re in trouble and that they need the grandparent to send them money right away to bail them out of jail, buy a ticket home from a dangerous location, or pay for damages caused by a car accident.

    In these scenarios, the scammer will usually ask the grandparent, “Grandma, do you know who this is?” to trick the grandparent to reveal the name of their grandchild so the scammer can use that name for the rest of the phone call. The scammer will then ask the grandparent to wire money to “help” the grandchild and ask that the grandparent don’t tell the grandchild’s parents for fear of them getting upset.

    Some scammers are even using AI to disguise their voices while on the phone with the grandparent to sound more convincing. This scam preys on the love and concern our parents have for their children and grandchildren, and can easily cause young or tech-savvy parents to fall victim as well.

    To protect your parents from being victimized by this scam, talk to them about the importance of never disclosing personal or financial information or the names of their loved ones in a text, phone call, or email. Instead, instruct them to ask who the caller is and to wait for the sender or caller to respond. If in doubt, the senior should ask the sender personal questions that only their real grandchild would know, but a scammer wouldn’t. Most importantly, encourage your parents to contact you before wiring or transferring money to anyone for any purpose, no matter what. 

    One strategy we particularly love is to have a family code word or phrase. For example, your code phrase may be “Cosmo is a spotted dog” and that code phrase would be known by everyone in the family so that if anyone is contacted in an emergency situation, the person could ask what’s our family code phrase, and the person calling, texting, or emailing either knows it or doesn’t. And, if they don’t, it’s a no-go for help.

    02 | PICK-POCKETING YOUR CRYPTO WALLET 

    The world of cryptocurrency brings new investment opportunities for those willing to try it out, but with this new financial arena comes new risks and safety measures. 

    In order to store cryptocurrency, you’ll need a digital wallet, as that’s the safest way to hold your cryptocurrency. Your cryptocurrency wallet doesn’t actually “store” money like a traditional wallet; rather, it stores passcodes, known as keys, that allow you to send and receive digital currency to and from the wallet. 

    Wallets come in two forms: hot and cold. A “hot” wallet stores your cryptocurrency in a location that’s connected to the internet—exchange-based wallets, desktop wallets, and mobile wallets. Because they’re connected to the internet, hot wallets are the most convenient, but also the most vulnerable to hacking. 

    A “cold” wallet, conversely, stores your cryptocurrency in a location that’s completely offline. Ironically, the most secure type of wallet for storing digital currency is a cold “paper” wallet. Paper wallets involve printing out your keys and storing them in a secure location. While paper wallets are the most secure option, if you lose the codes, it’s the same as losing paper currency—meaning there’s no way to recover your investment. 

    But no matter what kind of wallet your loved one keeps their crypto in, anyone with the “key” to that wallet can access and steal the funds – no hacking required. 

    How the Scam Works

    To gain access to your wallet, scammers will lure you to give them your wallet’s key by pretending to be representatives of a cryptocurrency company like Bitcoin or Coinbase, or by portraying themselves as a crypto broker. Once the scammer has your keys, your cryptocurrency is completely vulnerable, even if it’s kept in a “cold” offline wallet. 

    With the keys, the scammer can move your crypto out of your wallet and disappear with it forever, and since the cryptocurrency market isn’t attached to the banking system, there’s no way to recover cryptocurrency once it’s stolen. 

    To help protect your parents from these scams, talk to them about the importance of never, ever sharing their wallet keys with anyone besides you and any other trusted family members. This is essential to keep your parents’ crypto investments safe.

    In all cases, whether your loved ones have crypto in a hot wallet, paper wallet, or directly in a crypto exchange, make sure they’ve given you the details of where their crypto is stored and how to access it in the event they’re incapacitated or die. Otherwise, it’s completely lost. 

    If you don’t know how to find and access your parent’s cryptocurrency in an emergency or don’t know how best to plan for your own crypto, please talk with us so we can guide you on how to include your crypto information in your estate plan.

    Helping You Protect the Ones You Love

    Your parents’ financial security is a priority that demands proactive measures, especially in the face of emerging scams that exploit their vulnerability. By remaining vigilant and arming yourself with knowledge of these scams, you can effectively shield your family from falling prey to these fraudsters. 

    But remember, communication is key. Talk openly with your parents about these potential risks, and encourage them to reach out to you or a trusted professional before making any financial decisions. 

    We’re here to guide you through the intricacies of safeguarding your family’s financial future and can make it even easier to protect your parents by helping them establish estate planning tools to record and pass on digital assets like crypto, powers of attorney to help manage their assets, and trusts to protect everything they love for years to come.

    To learn how we can help you protect your parents from these scams, call us today at (650) 600-1735 and stay tuned for the next installment of our series, where we’ll dive into two more financial scams you and your senior parents need to know about.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • 10 Life Events That Signal It’s Time to Review Your Estate Plan – Part 1

    10 Life Events That Signal It’s Time to Review Your Estate Plan – Part 1

    Maybe you thought creating a will or trust is something you can do once and then your family and assets are protected forever after. It seems to be how most lawyers structure their services, so it wouldn’t be surprising if you did think this. You work with your lawyer, they draft documents, you bring them home in a binder or notebook, put them on a shelf or in a drawer, and you never hear from them again. Estate plan, done. But, it’s not, and thinking of it that way could leave your family with a big mess when something happens to you. 

    In reality, life events can drastically affect your estate plan and even cause your plan not to work in the way you intended. To make sure your plan remains up to date throughout your life, we recommend reviewing your plan at a minimum of every three years. Because I’m so passionate about this, I offer to review my clients’ plans every three years for free. 

    And, if any of these 10 life events happen before your three-year plan review, you’ll want to have your plan professionally reviewed right away. Let’s take a closer look at these 10 life events and how they can affect your estate plan and what changes may be required.

    01 | Your Assets or Liabilities Changed

    Life is full of changes and your financial situation is unlikely to stay the same over time. Changes in your assets, such as acquiring a new home or other assets, selling property, or incurring debt should prompt a review of your estate plan. You may need to update asset distribution, beneficiary designations, and financial provisions to reflect these changes accurately and ensure the people you love receive what you intend when you die. Most importantly, you need to update your asset inventory every time your assets change, and if you don’t have an asset inventory, you need to call us at (650) 600-1735 and update your plan to ensure you have an inventory included. The biggest risk to your family in the event of your incapacity or death is that they don’t know what you have, where it is, or how to find it. We solve this by creating and updating your asset inventory regularly.

    02 | You Bought, Sold, or Started a Business

    Owning a business adds another layer of complexity to your estate plan. If you’ve recently bought or sold a business, it’s essential to update your plan to reflect what you want to happen to your business when you die, ensure a smooth transfer of ownership (if desired), and create a plan to protect your business assets for yourself and your loved one’s future. 

    The financial and personal value of your business can be a significant gift to your loved ones both today and for years to come – if you know how to incorporate it into your estate plan in the right way.

    03 | You Gave Birth or Adopted a Child

    Welcoming a new child into your family is an incredibly joyful moment. As a parent, it’s essential to update your estate plan to include provisions for your child’s well-being and financial future. This includes naming guardians for minor children, creating a Kids Protection Plan, and ensuring their financial security through trusts or other means.

    It’s also important to document your wishes for your child’s education, religion, and values in your plan so their legal guardians will know how you would want your child raised if something happened to you.

    04 | Your Minor Child Reached the Age of Majority (or Will Soon)

    As your children grow up and reach the age of majority, it’s time to review how they will receive their inheritance, make sure someone can legally make healthcare decisions for them, and manage their money in the event they become incapacitated. Depending on their level of maturity, you may want to consider if they’re ready to handle assets on their own and if so, what amount. 

    An even better idea is to provide lifelong protection of your child’s inheritance through the use of a Lifetime Asset Protection Trust. By using this estate planning tool, your child’s inheritance can be used to support your child’s future while safeguarding its use and protecting it from any potential future lawsuits or divorces your child may face later in life. 

    This ensures that your children are financially secure as they head into adulthood while also supporting your children with financial responsibility.

    05 | A Loved One Dies

    The loss of a family member is emotionally devastating, and it can significantly affect your estate plan. If a deceased loved one was a recipient of assets under your will, trust, or financial accounts, it’s crucial to update these documents to make sure your assets will be distributed to the right people.

    Additionally, if the deceased individual was designated as a trustee or executor of your estate or a guardian of your minor children, you will need to appoint new individuals to fill these roles.

    Planning for Life’s Changes

    Your estate plan is the foundation that protects your family and your finances today and in the future. But estate planning is not a set-it-and-forget-it task; rather, your estate plan should change and evolve with the changes in your life. 

    We’re here to guide you through life’s changes to keep your estate plan up-to-date and effective, so you can have the peace of mind of knowing your plan will work exactly how you want it to when your loved ones need it most.

    If you’ve recently experienced a significant life event or it’s been a while since your last estate plan review, now is the time to review your plan. If you haven’t created an estate plan yet, it’s better to plan early than to have no plan at all. 

    To get started, call us at (650) 600-1735 to learn more about my Family Wealth Planning Session process where we’ll discuss your family dynamics and goals, address any changes in your life, and create a comprehensive estate plan that brings you peace of mind.

    Plus, don’t forget to return next week when I’ll be discussing five more life events that signal it’s time to review your plan.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Estate Planning Pitfalls – 3 Mistakes That Could Make Your Estate Plan Worthless

    Estate Planning Pitfalls – 3 Mistakes That Could Make Your Estate Plan Worthless

    Including a trust as part of your estate plan is a smart decision. It allows you to avoid probate, maintain privacy, and distribute your assets to your loved ones while also providing them with a lifetime of asset protection, if you choose it for them. But, here’s the thing you might not know, and is critically important to remember: simply creating a trust is not enough. For your trust to work, it has to be funded properly and may need to be updated over time.

    Funding your trust means transferring ownership of your assets from your own name into the name of your trust. This can include bank accounts, investments, real estate, and other valuable possessions. 

    By funding your trust properly, you ensure your assets are managed according to the terms of your trust and will be distributed according to your wishes when you die or if you become incapacitated.

    But, if you fail to fund your trust, it becomes nothing more than an empty vessel. Your assets won’t be protected or distributed as intended, at least partially defeating the purpose of creating a trust in the first place! While your assets can still get into your trust and be governed by your trust after your death, that means that your family still goes to court to get your assets there, and that’s a costly endeavor.

    To make sure your trust works for you, avoid these funding fiascos and work with an attorney who will ensure that everything that needs to get into your trust does.

    Forgetting to Update Your Account Beneficiaries

    Many people mistakenly believe that a will or trust alone is enough to dictate how their financial accounts should be distributed after they die. However, this isn’t the case. Without proper beneficiary designations on your accounts, your wishes may not be honored and your assets could end up in the wrong hands.

    Remember, the beneficiaries you designate on your accounts supersede any instructions in your will or trust, so this step is vitally important. 

    Take a moment to review your various accounts, such as bank accounts, retirement plans, and life insurance policies. Ensure that each account has your trust named as your designated beneficiary, unless you’ve made different plans for that specific account. 

    When you’re working with a lawyer, make sure your lawyer has a plan for each one of your beneficiary-designated assets, communicates that plan to you, and that the two of you decide who will handle updating your beneficiary designations. Then, make sure you review your beneficiary designations annually. In our office, we support our clients to do all of this with well-documented asset inventories, and a regular review process built into all of our plans.

    Your Attorney Didn’t Move Your Home Into Your Trust

    For many of us, our home is our most important and valuable asset. But if your attorney doesn’t deed your home into your trust, your home won’t be included under the terms of your trust if you become incapacitated or pass away. 

    That means your home could end up going through the long and expensive probate court process in order to be managed during an illness or passed on to your loved ones after you die. If you own a $300,000 home, that means your family could lose up to $15,000 or more just to transfer your home to your trust and then distribute your home pursuant to the terms of the trust – and that’s not including any other assets that would have to go through probate.

    A knowledgeable estate planning attorney shouldn’t miss this step, but it happens. And if you’re using a DIY service online to create a trust without the help of any attorney at all, it’s bound to happen!

    That’s why it’s so important to work with a lawyer who takes the time to make sure every asset you own is in your trust before they say their farewells.

    Not Reviewing Your Plan and Accounts Every Three Years

    You might wonder how not reviewing your estate plan every few years could really make your plan worthless. Well, the good news is that failing to review your plan is unlikely to completely eliminate the benefits it provides you because an estate plan is made up of a number of moving parts, not just a will or a trust.

    But, failing to keep your financial assets up to date and aligned with your estate plan can result in huge issues for you and your family and can even make the trust you invested in worth little more than the paper it’s printed on!

    That’s because your trust can’t control any assets that don’t have the trust listed as the owner or beneficiary. By reviewing your accounts every 3 years, you can help catch any accounts that don’t have your trust listed in this way.

    For example, it’s very common for clients to open a new bank account and forget to open the account in the name of their trust or add their trust as a beneficiary.

    Thankfully, by comparing my clients’ financial accounts to their estate plan at least every 3 years, I’m able to catch simple oversights like this that could cause their assets to be completely left out of their trust.

    Make Sure All of Your Assets Are Included In Your Plan with Help From Your Personal Family Lawyer

    Getting your legal documents in place is an important step, but it’s equally important to know that the documents themselves are not magic solutions (as magical as they may seem!). Merely creating a trust or naming beneficiaries on your accounts doesn’t guarantee that your wishes will be carried out unless all of the pieces of your plan are coordinated to work together. 

    If you aren’t experienced in the area of estate planning, trying to coordinate all these pieces yourself can be a recipe for disaster.

    That’s why I work closely with my clients to not only create documents but to create a comprehensive plan that accounts for all of your assets and how each one needs to be titled to make sure your plan works for you the way you intended. 

    Plus, I offer my clients a free review of their plans and financial accounts every three years to ensure that their plans accurately reflect their lives and their wishes for their assets and loved ones.

    If you want to know more about my process for funding your trust and making sure nothing is ever left out of your plan, reach out to me at (650) 600-1735. I can’t wait to hear from you.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Have a Trust? How the Corporate Transparency Act Affects You

    Have a Trust? How the Corporate Transparency Act Affects You

    Get ready for an interesting twist in the world of legal and business news. You may already be familiar with the upcoming Corporate Transparency Act, set to kick in next year. If you aren’t, it’s time to get in the know because it could impact you, and if it does, you’ll need support.

    Starting January 1, 2024, every small business will be obligated to submit an annual report revealing the names of their major owners. Now, here’s where it gets intriguing. If you happen to have a trust that holds partial or full ownership in a business, that business might be required to disclose private details about your trust, including details about the name of your trustee or beneficiaries, in your annual corporate report to the government. But how do you figure out if your trust needs to be reported?

    What Is the Purpose of the Corporate Transparency Act and What Does It Require?

    Enacted in 2020 and set to take effect on January 1, 2024, this Act aims to tackle money laundering and terrorism financing schemes involving “shell” corporations—companies that exist merely on paper and don’t engage in actual business or trade (like “Vamonos Pest” in Breaking Bad).

    Under this Act, small companies will now have to disclose the names of any owners who hold 25% or more ownership in the company, as well as any individuals who exercise significant control over the company’s activities. The goal is to identify and expose shell corporations that are frequently involved in money laundering, as such illicit activities tend to occur within small businesses rather than large corporations.

    To comply with the requirements, businesses must submit an annual report to the Financial Crimes Enforcement Network (FinCEN) containing the following details about each owner or controller:

    • Business name
    • Current business address
    • State in which the business was formed and its Entity Identification Number (EIN)
    • Owner/controller’s name, birth date, and address
    •  Photocopy of a government-issued photo ID (such as a driver’s license or passport) of every direct or indirect owner or controller of the company

    Failing to file an annual report could result in serious repercussions, from paying a fine of $500 for every day the report is late up to imprisonment for two years.

    Does My Trust Need to Be Disclosed?

    Since a trust can own a business or a share of a business, trusts are also involved in the Corporate Transparency Act, but under more limited circumstances.

    So how do you know if your trust information will need to be disclosed?

    The new rule applies to any company that is created by filing a formation document with the Secretary of State or a similar office, such as corporations and limited liability companies (LLCs).

    Non-profits, publicly traded companies, and regulated companies like banks and investment advisors are exempt from the rule. Large companies are also exempt if they have 20 or more full-time employees in the US and generate $5 million in sales. So, if your trust owns a share of any of these types of companies, it doesn’t need to be reported.

    If you have an LLC or corporation you created but aren’t actively using to run a business, that company is exempt from reporting due to its inactivity, so your trust wouldn’t be reported in that instance, either.

    But if your trust owns a share of a small, for-profit company (like a small family business or local investment), the beneficial owner of the trust will need to be reported to the Financial Crimes Enforcement Network.

    The beneficial owner is the person or people who benefit from the trust or have the power to make major decisions about the trust assets. Depending on how your trust is written, this is usually the trustee, but it can also be the beneficiaries of your trust. 

    Make sure to contact us at (650) 600-1735 to have your trust reviewed before 2024 to make sure you report the correct beneficial owner of your trust.

    Does the Corporate Transparency Act Affect My Trust’s Asset Protection?

    One of the best things about creating a trust is that it provides you and your family with an extra level of privacy and provides asset protection from divorce or lawsuits for your trust’s beneficiaries after you’re gone.

    Thankfully, having a trust that owns a business or a share of a business doesn’t take away from the trust’s ability to provide asset protection to your heirs.

    While the new Corporate Transparency Act rule reduces some of the privacy benefits that come with owning assets in a trust, the names of your trust, trustees, and beneficiaries aren’t made public and are only used by the government for the specific purpose of investigating financial crimes. 

    Because of this, trusts remain an excellent tool for providing privacy, avoiding probate, and setting up your family with a lifetime of asset protection and financial security.

    Guidance for Your Family Now and For Years to Come

    If you have a trust or are curious about creating an estate plan for your family, you may be wondering how changes in the law will affect your plan in the future and how you can possibly plan for them.

    Unlike many estate planning attorneys who serve their clients once and never see them again, I see estate planning as a life-long relationship. Your life and the world around you are constantly changing, and your estate plan should too.

    That’s why I keep my clients informed about any changes in the law that may affect their estate plan and offer to review your plan for free every three years to make sure that your plan still works for you just as well as it did on the day you created it.

    If you’re ready to create a custom plan for the ones you love or have questions about how the Corporate Transparency Act might affect you, give me a call today at (650) 600-1735.

    I can’t wait to serve you now and for years to come.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Leaving Your Pet in Your Will Won’t Protect Them – Do This Instead

    Leaving Your Pet in Your Will Won’t Protect Them – Do This Instead

    If you’re a pet owner, you know the special bond that exists between you and your pets, and to many pet owners, our furry friends aren’t just a pet – they’re a loved and important part of our families. So if you’re thinking about how best to provide for your family after you die or if you become incapacitated, it makes sense for your beloved pet to be a part of the plan.

    You want your pet to continue to have the kind of love and care you provided during your life, but estate planning for furry friends requires a little more thought than you might expect. 

    To understand why, it’s important to know two things:

    • A pet is considered property under the law.
    • When someone receives a gift of property through a will, that person can do whatever they want with that property, including your pet.

    A Will Won’t Cut It

    While you see them as part of the family, under the law, a pet is considered personal property, just like your money, furniture, and clothes. Because of this, you can’t actually leave money or possessions to your pet directly through your will or trust. Even if you try to leave money directly to your pet in your will, the money will instead skip your pet and pass to the beneficiaries you named to receive the remainder of your possessions. Or, if you didn’t name anyone else, the court will give your possessions, including your pet, to your next of kin, as determined under the law.

    Worst of all, the person that receives your pet and money for its care through your will has no legal obligation to use that money for your pet’s care or to even keep your pet at all. That’s why it’s so critically important to work with an estate planning attorney who knows the proper way to plan for your pet, so that when you die or if you become incapacitated, your beloved companion won’t end up in an animal shelter or given away to anyone you wouldn’t want raising your beloved familiar.

    A Will Provides No Guarantees For Their Future

    Because you can’t leave money to your pet directly, your first thought might be to leave your pet and money for its care to someone you trust through your will instead. While this is an option, it’s not guaranteed to work.

    That’s because the person you name as the beneficiary of your pet in your will has no legal obligation to use the funds you leave for your pet’s care for that purpose. Even if you leave detailed instructions for your pet’s care, there is no law holding the beneficiary to accept the responsibility of caring for your pet or stopping them from changing their mind in the future after the court probate process is finished.  

    You might be thinking that the person you’d leave your pet to loves them and would never think of abandoning them. But even if this person is committed to caring for your pet, it’s simply impossible to predict what circumstances might occur in the future that could make it impossible for them to provide for your pet for your pet’s full lifetime.

    For example, when you die, the new caregiver might:

    • Live in an apartment or condo that doesn’t allow pets
    • Suffer from an unforeseen illness that makes it difficult to care for your pet
    • Have an allergy to your pet you knew nothing about
    • Become so busy with work or family that they just don’t have the time to make a lifelong commitment to your pet’s care

    A Will Isn’t Fast Enough

    The other issue a will creates for your pet is that a will is required by law to go through the court process known as probate before any of your property can be distributed to the people you’ve named, and of course, it only operates in the event of your death, not your incapacity. 

    The probate process itself can take months or even years to complete. During that time, your pet could be passed around between family members and friends, who may even argue over who should care for it. In the worst-case scenario, no one may even think to check in on your pet regularly while the court process is unfolding.

    Plus, a will only goes into effect upon your death, so if you’re incapacitated by accident or illness, it would do nothing to protect your companion. This leaves your pet in limbo and vulnerable to being re-homed to someone you wouldn’t have chosen or wanted to care for your pet. In the worst scenario, your pet could be surrendered to a shelter by the time everything gets figured out.

    Provide Long-Lasting Care for Your Pet Through a Pet Trust

    In order to be completely confident that your pet is properly taken care of and that the money you leave for its care is used exactly as intended, ask us to help you create a pet trust.

    By creating a pet trust, you can lay out detailed, legally binding rules for how your pet’s chosen caregiver (the trustee) can use the funds you leave for your furry friend. And unlike a will, a pet trust doesn’t go through probate, so it goes into effect immediately in the event you become incapacitated or pass away, whereas a will requires the court process called probate to take place before any decisions can officially be made about your pet.

    Additionally, in a pet trust, you can name backup trustees who will receive your pet and any funds left for them if the first person you chose as trustee declines to take your pet or isn’t able to care for them in the future. To add even more certainty to your pet’s future, you can name multiple trustees for your pet. In this way, you’d have two people invested in the care of your pet who can see that the money you leave for its care is used wisely. 

    Finally, all of the care decisions and financial distributions for the care of your pet will happen in the privacy of our office, in the event of your death or incapacity. We’ll guide your decision-makers about how and why you made your decisions, and how they need to care for your pet to receive distributions. You’ll literally have a lawyer ensuring the care of your pet happens as you would want it. While that may seem excessive for some, we have many clients who care that much about the well-being of their pets and want to ensure their care is handled as they want.

    Do Right By Your Pet

    Don’t leave your beloved pet’s future up to chance. Let us help you create a pet trust that will provide for your furry friend’s long-term care and be there for your pet and your decision-makers when you cannot be.

    At our firm, we can help you create a legally binding pet trust that outlines detailed rules for how your pet’s chosen caregiver can use the funds you leave for their care. Unlike a will, a pet trust doesn’t go through probate, which means it goes into effect immediately if you become incapacitated or pass away. We’ll be there for the people you love when you cannot.

    Contact us today at (650) 600-1735 to schedule a consultation and ensure you’re doing right by your pet.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

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