Beyond Wills and Trusts: Other Estate Planning Essentials
Date: Thursday, September 21, 2017
Time: 7:30 to 9:00 a.m.
Location: The offices of Gibbel Kraybill & Hess LLP, 2933 Lititz Pike
Everyone needs a will, but that’s not all you need to accomplish your estate planning goals. Attorney Doug Smith discusses other tools, including:
- Placing with the will a letter about faith and values;
- Using a separate memo to direct distribution of certain household and personal effects;
- Using retirement account beneficiary designations to fund charitable gifts;
- Donating appreciated property to charity and retaining a lifetime annuity for yourself and your spouse, with remainder to charity after your demise;
- Designating a primary and alternate beneficiary for retirement accounts, so that the proceeds do not pass under the will;
- Giving gifts during your lifetime;
- Ensuring that your estate plan complies with agreements governing business interests;
- Keeping a separate record of lifetime gifts that shall be deemed “advancements” that reduce what the recipient otherwise would receive under the will;
- Benefits and risks of joint accounts or pay-on-death accounts to implement your goals;
- Titling investment assets to save income taxes after death and increase flexibility for a surviving spouse;
- Funding a revocable trust;
- Considering umbrella liability and long-term care insurance coverage;
- Granting broad powers in a Power of Attorney;
- Organizing your financial records and leaving instructions, files or a clear paper trail in case of your death or incapacity.
- Living Will and Healthcare Power of Attorney.
A light breakfast is included.
To register, call 717.291.1700 or email RSVP@gkh.com.