Del Mar Foundation’s free tax and estate planning seminar series is Oct. 10
If tax changes and estate planning leave you searching for answers, join the Del Mar Foundation on Oct. 10 for the first of a four-part seminar series titled “Frequently Asked Questions and Answers to Tax and Estate Planning Changes.” The Oct. 10 seminar will be held at the Del Mar Powerhouse Community Center from 4-6 p.m. Handouts will be provided to all participants and light refreshments will be served.
Cory C. Grant, J.D., founder and shareholder of Grant, Hinkle and Jacobs, Inc., a Del Mar Foundation board member, and a resident of Del Mar will lead the first seminar.
Grant received his B.A. from the University of California at Santa Barbara, and his Juris Doctor from California Western School of Law in San Diego. For more than 20 years, Grant has developed his expertise in the design and implementation of advanced estate plans, wealth protection techniques, and business succession strategies for families and business owners. A dynamic and entertaining speaker, Grant has over 20 years of experience helping families and business owners around the country with estate and business succession planning.
This four-part series will be offered quarterly with a variety of speakers and topics addressing tax and estate planning issues. Participant questions are welcome. Come to one or come to all four sessions. Reservations are required to ensure that sufficient space and materials are on hand.
To reserve your seat for Oct. 10, contact the Del Mar Foundation at 858-635-1363 or by email at email@example.com.
No personal information will be gathered at the presentations.
Below is a Q& A with Grant:
By Cory C. Grant, Esq.
1.) What is the most important thing for people to know regarding estate planning?Estate planning is important for everyone. Anyone who owns property and has assets should be concerned about the distribution to children, a spouse, other relatives or charities. A good estate plan addresses this and provides for an orderly distribution of assets. A comprehensive estate plan includes health care decisions, guardian issues for minors and powers of attorney so your trusted power holder can carry out your wishes should you become incapacitated. Most importantly, estate planning is a dynamic process and should be reviewed and revised from time to time to ensure that it is still current and relevant.
2.) What is the most common mistake people make in estate planning?The biggest mistake made by people is not having their advisory team communicate and collaborate regularly. Best results occur when the trust attorney, CPA, investment advisor and insurance professional all are in communication and understand the goals and objectives of the client.
3.) When should people create a properly executed will and why?Wills are necessary to ensure that assets are distributed based on the terms and conditions that the client sets forth. Anyone over the age of 18 should have a will and powers of attorney for health care and asset decisions. Anyone with a home and/or children should also consider a revocable trust to avoid the time, cost and publicity of probate proceedings.
4.) What are the biggest mistakes people make when it comes to life insurance?Every life insurance policy should be reviewed from time to time to ensure that it is still appropriate and meeting the objectives for which it was purchased. A lot of folks purchase a policy and then forget about it. Another common mistake is having the policy incorrectly owned. For example, one might forget to change beneficiaries after a divorce or break up of a business. Also, we see lots of families use life insurance to provide liquidity to pay estate taxes. In those situations it is critical that the policy be owned by an entity outside of the estate of the senior generation to avoid extra taxes. Improper ownership may lead to unintended consequences.
5.) Why would you recommend that people attend this seminar series?The Del Mar Foundation is offering this four-part series as a community service so that local residents will have the opportunity to listen to the information in an impartial setting, ask questions of a group of professionals, and bring materials home to study and discuss with family. While all of the speakers in the series have successful businesses, there are strict prohibitions against soliciting, so the environment will be an open arena to ask questions and have them answered.