Expert says that the process can be difficult, but it is necessary

About 68% of the Americans. Die with or without will or trust in California. That means a costly estate process. And now contact us to talk about estate planning and talk to your loved ones more about wealth. Vice President Financial Advisor at Trust, Catherine McCall. Thank you for joining us. I'm sorry that the topic is so depressing. Do you know what? But here is the thing. And this type actually prevents many people from addressing the topic, but it is very necessary. So let's start with who needs a will and trust. Why is it so important when you are a person with a pulse and have things? I think you need will and trust. Okay, you go there. Everything it is worth protecting yourself and that you have feelings if you give someone else, you may want to consider and trust. We also live in the state of California, a high estate. So everything is set by law. Perhaps you have a house and it is based on the market value that you cost the fees for estate costs. If you don't have anyone as an beneficiary set up this asset. OK. What would you tell people about how to make the process of writing this trust? No fan of using the Internet to make your trust. I know shocking. I am a fan of some of the wonderful lawyers for estate planners in our area who do great work. You will sit down and look at all of your assets and find out what needs to be trusted, which could fall under the will to ensure that you have the beneficiaries for all of your accounts. Because if the asset does not know where to go, it goes to the estate. Okay, some people like to leave it to people, but even if they have followed, they can also decide to leave some, if not all charity organizations. What is the guideline there? You know that charity organizations are a wonderful way to be taxable with your gifts. Even if you pay attention to a kind of mixture, I would like to give children money, but also for charity organizations. Charity organizations are a major beneficiary for an IRA because they have no tax effects that receive this money compared to their children who receive an IRA for ten years for this money for ten years. There are also really nice options for this. But your lawyer for estate planners can help you to structure the property to ensure that you actually give the right person the right capital, even at the right time of his life, because not everyone will benefit from receiving their money. I know that it sounds strange, but sometimes actually prepared for this asset in terms of financial maturity, which it is really important to write them in such a way that they ultimately benefit. There the lawyer can sit down and look and make sure that Johnny, who may not have had a job in ten years, probably does not need 200,000 US dollars in direct value. Maybe he needs it in a trust. Maybe it has to be protected, and maybe there will have to be a few more protective measures there. And that's the thing, isn't it? Depending on how big it is, these flat -rate amounts can also influence someone, especially if someone is a bit older, could stand on a medicaid, medicare and something like that. Trusts for special needs. Yes, absolutely. So. Last, and this could be one of the most difficult aspects of everything. How do you bring the conversation to talk to your loved ones about it? This is a taboo subject for many people, and I am a fan of openness and transparency. You don't have to tell them, hey, you will get a check of $ 300,000 from me when I'm gone. But I think it is more open to talk about your values ​​when it comes to your money and the conversation about what you intend, you can use an inheritance that you receive, we say, hey, I really want to make sure that you use my money on your grandchildren for college. Or I know our family is really involved with the SPCA charity organizations. And we would like to make sure that part of your money goes. If that is also important to them. But if you cannot open this conversation, I think that you end up with a cold hand instead of a warm hand, which is a very dark statement. You know that it is so. But here too the thing of this conversation is going. That's correct. So good, Catherine, always approved

California Financial Advisor gives tips on writing a will to secure the future of her family

Updated: 4:03 p.m. PST March 2025

It is not an easy topic to talk about death, but money experts agree that it is necessary to secure the financial future of your family. Kathryn McCall, the Vice President and Financial Advisor of Captrust. McCall also admits that it is easier said than done, but this conversation begins where everything begins. Download our app | Subscribe to our morning newsletter | Find us here on YouTube and subscribe to our channel

It is not an easy topic to talk about death to devote itself to the kitchen table, but money experts agree that it is necessary to secure the financial future of your family.

“If you have property of all kinds, a trust makes a lot of sense here in California.” said Kathryn McCall, the Vice President and Financial Advisor at Captrust.

Even McCall admits that it is easier said than done, but this conversation is where everything begins.

McCall recommends to compose the professionals when they are willing to write a will or trust. However, if you need more insights into the process, you can see the attached video.

Further reporting on Top California stories can be found here | Download our app | Subscribe to our morning newsletter | Find us here on YouTube and subscribe to our channel