1.

Don't only wealthy seniors need wills?

NO. Every adult should have a will even if your estate is modest.

2.

Can I make changes to my will once it has been written?

YES. Even the best of wills need revisions because conditions change.

3.

Can I save legal fees by writing my own will?

You can do your own will but it is what you don't know that will cause problems. The problems may be much bigger than the fee you save.

4.

Does a will eliminate the need for other methods of estate planning?

NO. There are many tools used in estate planning, including wills, trusts, charitable trusts, annuities and life insurance. It is helpful to consult an estate planning professional to select the tools that best fit your needs. A will is an important part of every estate plan.

5.

What is probate?

Probate is the legal process through which the court sees that, when you die, your debts are paid and your assets are distributed according to your will. If you don't have a valid will your assets are distributed according to state law overseen by the court.

6.

Why do many people try to avoid probate?

There are expenses involved with probate including lawyer's fees and court costs. Probate can be slower than a trust and the records are public records. Probate rules are less flexible than the rules that guide a trust. There are however some benefits to probate. A judge oversees the distribution of assets to ensure the person's will is followed.

7.

What is a trust?

A trust is a document often used in estate planning that allows you to place assets in the trust to be used and distributed according to your written directions. Trusts can be created while you are alive called intervivos or living trusts or at your death in your will called testamentary trusts. Intervivos trusts can be changed if they are revocable.

8.

What is the advantage of a trust?

Unlike a will, a trust can continue in existence long after your death. If you have minor children, you can draw a trust to care for your children until they are adults and then distribute the assets according to your directions. Trusts are generally far more flexible than wills.

9.

Is there a basic minimum a person needs for an estate plan?

Experts say that at minimum every adult needs a will, a general durable power of attorney and durable power of attorney for health care.

10.

What is a general durable power of attorney?

A general durable power of attorney is a document in which you empower another to conduct your business affairs. It is durable because it continues to be valid is you become incapacitated.

11.

What is a durable power of attorney for health care?

California law allows you to choose another person to make health care decisions for you if for any reason you are unable to speak for yourself. By completing a form called "Durable Power of Attorney for Health Care" (DPAHC), you can appoint another person to make decisions about your medical care if you are unconscious or otherwise cannot make these decisions for yourself. You can also write down your health care wishes in the DPAHC form. Your agent must follow these instructions and must honor any other wishes you have made known.

12.

Is a DPAHC different from "living will"?

YES. "Living wills" typically are documents that state your desire to receive life-sustaining treatment if you are terminally ill or permanently unconscious. Unlike a living will, a DPAHC also can be used to state your desires about your health care in any situation in which you are unable to make your own decisions, not just when you are in a coma or terminally ill. In addition, only a DPAHC allows you to appoint someone you trust to speak for you when you are incapacitated.

13.

How can I make charitable gifts in my estate plan?

Through effective estate planning, you can make charitable gifts while still meeting your needs and those of your loved ones. You can accomplish this through a gift in your will or trust, establishing a charitable gift annuity or a charitable remainder trust.

14.

How can Southeastern California Conference Trust Services Department help me achieve my estate plan?

SECC Trust Services Department's mission is to assist individuals who wish to make a present or future gift to the church. SECC can help you by providing educational materials about basic estate planning and charitable gifts. We work with estate planning professionals to help you create an estate plan. SECC is available to serve as trustee or successor trustee of your trust. We care for original documents such as wills and trusts. We assist you with periodic review of your situation and in modifying plans when necessary. We assist elderly trustors with their needs and assist families after death.

15.

Do I have to give all or most of my estate to the church to receive services?

NO.

16.

Can my local church or school be considered as the designated charity to receive my gift?

YES.

17.

Can I make gifts to entities other than SECC?

ABSOLUTELY.

18.

What projects are available to me when making a charitable gift?

SECC has projects and endowments which may be particularly appropriate for a planned gift. Please click Projects to see the list of options you have.

19.

What is a charitable gift annuity?

A charitable gift annuity is a contract with a charity in which you give an asset, usually cash, in exchange for a guarantee of fixed payments for life. The size of the payment is based on you're your age when the gift is made; the older the recipient, the larger the payment. You receive a charitable deduction when you make the gift and only part of the annual payment is taxable income to you. A charitable gift annuity is an excellent way to avoid capital-gain taxes on an asset that has gone up in value. SECC offers charitable gift annuities to its members. Please click Gift Planner for more information.

20.

What is a Charitable Remainder Trust?

A charitable remainder trust is an irrevocable trust you make with a charity. You contribute an asset. The earnings from that asset are given to you for life. On your death the charity receives the balance.