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Beyond the Paperwork: A Conversation About Estate Planning

Beyond the Paperwork: A Conversation About Estate Planning. Moderator: Steve Merlin, J.D Cohen Pollock Merlin Turner, P.C . Presenters: Jake Kaplan, M.B.A.,J.D. Alston & Bird, LLP Blair Rothstein, J.D, CFP Register Financial Associates Rabbi Ari Kaiman

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Beyond the Paperwork: A Conversation About Estate Planning

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  1. Beyond the Paperwork: A Conversation About Estate Planning Moderator: Steve Merlin, J.D Cohen Pollock Merlin Turner, P.C. Presenters: Jake Kaplan, M.B.A.,J.D. Alston & Bird, LLP Blair Rothstein, J.D, CFP Register Financial Associates Rabbi Ari Kaiman Congregation Shearith Israel

  2. Estate Planning Defined • Plan for me and my loved ones if I become disabled through powers of attorney • Give what I have by Will, Trust, beneficiary designation or ownership structure • To whomever I want • The way I want • When I want

  3. The Basics What do I need: • Health Care Directive • Financial Power of Attorney • Will or Trust • Asset information and PASSWORDS • “Just in Case” File

  4. Common Planning Techniques • Owning property jointly • Designating a beneficiary • Signing a Will • Creating a Living Trust

  5. Typical Plan Estate Assets Non-probate transfers Property titled in your name Jointly owned property Life Insurance IRA’s 401(k)’s Annuities Probate Process Your Will Planned Distributions

  6. Probate: What is it? The legal process by which title to property is transferred from the deceased to his or her beneficiaries as designated in a Will. It may include: • Bank Accounts • Real Estate • Automobiles • Brokerage Accounts • Stocks, Bonds

  7. Common Pitfalls and Problems • Survivors lack information about financial affairs and digital assets • Surprises • Titling of assets • Out of date documents • Beneficiary designations • Wills

  8. Jewish Law Orthodox Halacha provides that: • A husband inherits from his wife • A wife does not inherit from her husband • Sons inherit from their parents • Daughters do not inherit (unless there are no sons) • firstborn sons are entitled to a double distribution of certain assets

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