${site.data.firmName}${SEMFirmNameAlt}
Throughout Southern California
310-324-9403
Toll-Free
866-402-1805
View Our Practice Areas

Spread the Wealth with These 5 Tips

You've spent a lifetime building your estate. Now it's time to decide how it will be distributed. Handing down your wealth is not as simple as writing a check or naming a beneficiary; you want to make the best decisions to preserve your financial legacy. Thomas Brockley, senior vice president and branch director at RBC Wealth Management, shares some tips on how to maximize your giving and ensure your wishes are followed.

Most people do not know where to begin making their estate plans. The more assets that you have, the more considerations you have to take into account when deciding how you want to distribute them in your estate.

The obvious starting point is to begin by hiring an experienced estate planning attorney.

It is often a good idea to go into a first meeting with an attorney with some idea about your options and what you might want the attorney to help you accomplish.

Recently, Forbes published an article titled "5 Tips For Handing Down Your Wealth."

Here is a snapshot of that advice:

  1. Consider using a charitable remainder trust if you plan on leaving money to charity. These trusts allow you to receive lifetime income from current assets and get a tax break. Whatever is left in the trust after you pass away will go to charity.
  2. A life insurance trust might be a good tool to keep a business in the family while providing needed cash for your family members in the form of life insurance while they are waiting for the estate to wrap up and distribute assets.
  3. You might want to set limits on how your heirs can use their inheritances to make sure that your wealth is not squandered.
  4. If you have a lot of assets, a professional trust manager might be a better option than naming a family member as a trustee.
  5. Make sure that beneficiary designations are up to date.

In the end, the experienced assistance of an estate planning attorney who has been there and done that will make the process much easier for all concerned.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Find Out The Difference That Experience And Expertise Makes

Get the peace of mind that you deserve. First, attend a seminar. This will entitle you to a free initial consultation and a discounted estate planning fee. To learn more about our services or sign up for a seminar, contact us online or call us at 866-402-1805. We have offices in Torrance, Orange, Newport Beach, Pasadena and Woodland Hills.

Questions? Contact Us.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Call Now For A Free Consultation: 866-402-1805
  • ${site.data.firmName}${SEMFirmNameAlt}
  • Main Office: Torrance

    Torrance Office
    990 West 190th Street
    Suite 500
    Torrance, CA 90502

    Toll Free: 866-402-1805
    Map & Directions

    Orange Office
    333 City Boulevard West
    17th Floor
    Orange, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Newport Beach Office
    5000 Birch Street
    Suite 8000
    Newport Beach, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Pasadena Office
    790 East Colorado Boulevard
    9th Floor
    Pasadena, CA 91101

    Toll Free: 866-402-1805
    Map & Directions

    Woodland Hills Office
    5850 Canoga Avenue
    4th Floor
    Woodland Hills, CA 91367

    Toll Free: 866-402-1805
    Map & Directions

    Office map
Check out The Law Firm of Kavesh, Minor & Otis on Yelp
Check out Kavesh Minor & Otis on Yelp
Check out The Law Firm of Kavesh, Minor & Otis - Orange on Yelp
Check out The Law Firm of Kavesh Minor & Otis - Pasadena on Yelp