Estate Planning Essentials
Estate Planning Essentials
The ACTEC Family Estate Planning Guide is now Estate Planning Essentials.
This video series asks some of our Fellows to answer frequently asked estate planning questions. From advance medical directives to divorce considerations to utilizing positive psychology when creating a plan, you’ll find the answers here.
The American College of Trust and Estate Counsel, ACTEC, is an association of highly respected lawyers and law professors skilled and experienced in the preparation of wills and trusts; estate planning; and probate procedure and administration of trusts and estates of decedents, minors and incapacitated individuals.
Our Estate Planning Essentials videos are provided in the following categories:
Planning Videos
Powers of Attorney
Should I Serve as a Healthcare Agent Under a Power of Attorney (POA)?
Understand what you need to know about accepting the legal responsibility of a healthcare agent, aka a healthcare surrogate or healthcare proxy.
Should I Serve as an Agent Under a Financial Power of Attorney (POA)?
Understand what’s involved in the role of a property or financial Power of Attorney (POA), what’s entailed, and what questions you should ask yourself.
Tips for Individuals Living Alone (Part. 2 of 2)
Estate lawyers share tips for individuals living alone on how to plan for incapacity or illness for an extended amount of time and provide a review of critical power of attorney documents.
Tips for Individuals Living Alone (Pt. 1 of 2)
Estate lawyers share tips for individuals living alone to prepare for a healthcare or medical emergency, including a checklist and contact forms.
How to Talk with Your Family About Estate Planning
Recommendations for how and when to talk with your family about your estate plan, will and other documents by expert trust and estate attorneys.
How to Talk With Your Parents About Estate Planning
Trust and estate lawyers offer recommendations for how to have critical conversations with your parents about end-of-life planning and estate documents.
Advance Medical Directives: Living Will, Medical Orders (MOLST & POLST), DNR
Advance directives are documents that express an individual’s health care wishes. Learn more about a Living Will, Healthcare Proxy, MOLST, POLST, and DNR orders.
Getting Your Affairs in Order: Essential Legal Documents
What legal documents should we have in place to prepare for an emergency, such as the Coronavirus pandemic?
Estate Planning for a College Student or Young Adult
Understand what documents you should discuss and prepare for your college-bound and young adult when they turn 18, a legal adult.
Understanding Powers of Attorney
Understanding your Power of Attorney (POA) is critical in estate planning. Bernie Krooks, a nationally-recognized expert shares his expertise in this video.
Planning Videos
Probate
Pitfalls of Pay on Death (POD) Accounts
An explanation of how Pay on Death (POD) accounts, aka TOD or Totten Trust, work and what account owners should be aware of before identifying a beneficiary.
Should I Serve as a Trustee?
Attorneys explain the responsibilities and risks of being a trustee of a trust, a role that involves significant legal and ethical obligations.
Should I Serve as an Executor?
Estate attorneys explain what individuals need to understand before agreeing to serve as an estate executor, such as probate, tax, and legal requirements.
A Child’s Right to Information When a Parent Dies
What are your rights to information in a Will after the death of your parent or relative? Do you need a lawyer? Learn these answers and more in this video.
How Does a Revocable Trust Avoid Probate?
Understand how a revocable trust helps families avoid probate from experts in the field, ACTEC Fellows Stacy Singer and Jonathan Michael.
What is Probate?
ACTEC Fellows discuss “What is Probate? in this informative short video for individuals and families.
Planning Videos
Retirement
Pitfalls of Pay on Death (POD) Accounts
An explanation of how Pay on Death (POD) accounts, aka TOD or Totten Trust, work and what account owners should be aware of before identifying a beneficiary.
Tips for Individuals Living Alone (Part. 2 of 2)
Estate lawyers share tips for individuals living alone on how to plan for incapacity or illness for an extended amount of time and provide a review of critical power of attorney documents.
Tips for Individuals Living Alone (Pt. 1 of 2)
Estate lawyers share tips for individuals living alone to prepare for a healthcare or medical emergency, including a checklist and contact forms.
Common IRA Beneficiary Scenarios
There are no do-overs with IRA beneficiaries! Understand the typical IRA beneficiary scenarios and why it’s critical to review every time you set up an IRA.
529 Plan Pros and Cons
Estate experts answer parents’ and families’ questions about how 529 Plans work and what you need to keep in mind when saving for higher education.
Social Security Retirement Age and Benefits
Understand when you should take Social Security retirement benefits and how the decision may result in a reduction of income for dependents.
Utilizing Positive Psychology in Your Estate Plan
Learn the role of positive psychology and communication when creating your estate plan and leaving assets to family and beneficiaries.
How the SECURE Act May Impact Your Retirement Plan
The SECURE Act, enacted in December 2019, changes everything in regard to estate planning with retirement benefits. Learn more from the experts.
Should I Sign New Estate Planning Documents When I Move to a New State?
When you move to a new state, do you need to update your estate planning documents? ACTEC Fellows discuss which document you need to update and why.
IRAs and IRA Beneficiaries
IRA beneficiary designations can be confusing. Learn the essentials of IRAs and naming IRA beneficiaries from trust and estate experts.
Planning Videos
Special Needs
Understanding Special Needs Trusts
Estate planning experts explain the different types of Special Needs Trusts (SNT) and offer tips to families to determine which one they should use.
Tips for Managing Digital Assets of a Deceased or Disabled Person
Tips for adding a legacy contact to email/social media accounts; recommendations for executors accessing digital property of disabled/deceased persons with no legacy contact.
Alternatives to Guardianship
Learn about alternatives to guardianship including revocable trusts, POA, medical orders and social security options from experts.
Supported Decision-Making
Experts on supported decision-making explain how this alternative to guardianship works and answer many questions families may have.
Special Needs Trusts
Estate planning experts explain the different types of special needs trusts, what to consider to avoid losing public benefits like Medicaid, and other potential pitfalls.
Choosing an Executor or Trustee
Selecting an executor or trustee to oversee your will or trust requires careful consideration. Learn about this topic from professionals in trusts and estates.
What is a Revocable Trust and Do I Need One?
Professor Mary Radford explains in everyday terms what you need to know about a Revocable Trust and if you need one through this informative video.
Planning Videos
Wills & Trusts
Charitable Giving Tips & Tricks
A primer on donations, including tax considerations, donating stocks vs. cash, “bunching” donations, donor-advised funds (DAF), and more.
Artificial Intelligence (AI) and Planning Your Estate
Estate planning attorneys explain what consumers should be aware of when using AI and what their lawyer’s professional responsibilities should include.
Estate Planning for Freelancers and the Gig Economy
Explore estate planning for freelancers and gig workers. Learn about tax planning, creating a will, asset management, planning for incapacity, and more.
Tangible Personal Property in Estate Planning
Experts explain why you’ll want to add provisions regarding tangible personal property, such as furniture, vehicles, electronics, and jewelry, to your will or trust.
Funding Your Revocable Trust and Other Critical Steps
Learn why funding your trust is vital for seamless asset transfer, minimizing legal issues and taxes, and safeguarding your beneficiaries’ future in this video.
Should I Serve as a Healthcare Agent Under a Power of Attorney (POA)?
Understand what you need to know about accepting the legal responsibility of a healthcare agent, aka a healthcare surrogate or healthcare proxy.
Should I Serve as an Agent Under a Financial Power of Attorney (POA)?
Understand what’s involved in the role of a property or financial Power of Attorney (POA), what’s entailed, and what questions you should ask yourself.
Should I Serve as a Trustee?
Attorneys explain the responsibilities and risks of being a trustee of a trust, a role that involves significant legal and ethical obligations.
Should I Serve as an Executor?
Estate attorneys explain what individuals need to understand before agreeing to serve as an estate executor, such as probate, tax, and legal requirements.
Managing Guns in Your Estate
Estate planning experts explain the complexity of transferring firearms and guns in your will and offer tips regarding what to consider when bequeathing weapons.
Common IRA Beneficiary Scenarios
There are no do-overs with IRA beneficiaries! Understand the typical IRA beneficiary scenarios and why it’s critical to review every time you set up an IRA.
Understanding Cryptocurrency in Estate Planning
Understand how to manage cryptocurrency in your estate and plan for the succession of your digital assets from estate planning experts.
Key Roles Involved in an Estate Plan
An explanation of the roles and responsibleness involved in a will, trust, or estate plan such as fiduciary, agent, executor, trustee, and guardian.
Can I Do a Will for Myself?
Understand the pros and cons of writing a will for yourself and what should be considered when planning for the disposition of your assets.
How to Talk with Your Family About Estate Planning
Recommendations for how and when to talk with your family about your estate plan, will and other documents by expert trust and estate attorneys.
How to Talk With Your Parents About Estate Planning
Trust and estate lawyers offer recommendations for how to have critical conversations with your parents about end-of-life planning and estate documents.
Estate Tax Returns
Estate Planning experts give a step-by-step overview of the estate tax preparation and filing process. What clients should know about the return, extension, exemption, and IRS response.
What is Estate Administration?
What happens if someone dies without a will? Estate planning experts answer pressing questions for families and beneficiaries.
Postmortem Planning
An overview of what estate planning decisions can be made postmortem and pre-mortem, including taxes, decanting, and portability considerations.
Pitfalls of Do-It-Yourself Estate Planning
A discussion of what consumers need to know about using do-it-yourself estate planning documents and DIY wills.
What to Expect After Hiring an Attorney
Tips on what to keep in mind when working with an attorney, including the difference between individual, joint and family representation.
How to Choose an Estate Planning Attorney
Finding and choosing an estate planning attorney can be intimidating. Learn where you can go online to find qualified estate planning attorneys.
Supported Decision-Making
Experts on supported decision-making explain how this alternative to guardianship works and answer many questions families may have.
Inheritance and Estate Settlement: When Will I Get My Money
Experts in estate planning answer common questions regarding when beneficiaries of a will or trust will receive their inheritance.
Motivating Heirs with an Incentive Trust
Learn the benefits and pitfalls of incentive trusts when motiving heirs or beneficiaries and rewarding behavior.
Gift Tax, the Annual Exclusion and Estate Planning
Understand when gift tax comes into play, how the age of the recipient impacts gift tax, efficient ways to transfer property, the annual exclusion and more from experts.
Estate Planning in the 2020 Election Year
Learn what steps taxpayers may want to consider and how to plan for future legislation, changes in the estate gift tax exemption and charitable giving.
Estate Planning Strategies for Retiring Abroad
Retiring abroad? Learn what estate planning information to keep in mind when moving overseas, such as guardianship considerations.
Estate Planning Considerations for Small Business Owners
Small business owners need to plan for the transition of their company in their estate plan. Learn about the impact of state laws and how to plan for estate taxes.
Can I Change My Irrevocable Trust?
Learn what changing an irrevocable trust entails, what it means to decant a trust, what courts can do and other pitfalls from trust and estate experts.
Special Needs Trusts
Estate planning experts explain the different types of special needs trusts, what to consider to avoid losing public benefits like Medicaid, and other potential pitfalls.
Transferring Assets to a Minor Child
How to transfer assets to minor children, the Uniform Transfers to Minors Act (UTMA), 529 plans, naming a caregiver for a minor child in a Will and more.
Coordinating Beneficiary Designations with the Overall Estate Plan
Assets such as life insurance, annuities, pension plans, 401ks and IRAs have beneficiary designation forms as part of the set-up process.
Digital Asset Management in Life and Death
Understand how to plan and manage your digital assets such as photos, email accounts and passwords during life and in your estate documents.
5 Reasons to Update Your Estate Plan
ACTEC Fellows discuss 5 reasons why you may want to update your Will and Estate Plan, such as after a move or divorce, when your children have grown or have substance abuse problems, or if you own a business.
What to Consider When Setting Up Trusts for Children
What’s the best way to leave assets to minor children? Should children receive equal assets? What’s a Pot Trust? These and other questions are answered by estate planning advisors.
Choosing an Executor or Trustee
Selecting an executor or trustee to oversee your will or trust requires careful consideration. Learn about this topic from professionals in trusts and estates.
Divorce and Estate Planning
Understand what estate planning documents are impacted by a divorce from lawyers with expertise in estate planning in this short video.
What is a Will and Why Do I Need One?
Estate planning can be overwhelming. Experts answer questions families often ask about Wills, associated documents, beneficiaries and e-wills.
What is a Revocable Trust and Do I Need One?
Professor Mary Radford explains in everyday terms what you need to know about a Revocable Trust and if you need one through this informative video.
Planning Videos
Assets
Charitable Giving Tips & Tricks
A primer on donations, including tax considerations, donating stocks vs. cash, “bunching” donations, donor-advised funds (DAF), and more.
Pitfalls of Pay on Death (POD) Accounts
An explanation of how Pay on Death (POD) accounts, aka TOD or Totten Trust, work and what account owners should be aware of before identifying a beneficiary.
Tangible Personal Property in Estate Planning
Experts explain why you’ll want to add provisions regarding tangible personal property, such as furniture, vehicles, electronics, and jewelry, to your will or trust.
Funding Your Revocable Trust and Other Critical Steps
Learn why funding your trust is vital for seamless asset transfer, minimizing legal issues and taxes, and safeguarding your beneficiaries’ future in this video.
Tips for Seniors to Avoid Scams
Legal experts explain common scams against senior citizens, offer tips to avoid scams, and outline steps to take if you are the victim of elder fraud.
Managing Guns in Your Estate
Estate planning experts explain the complexity of transferring firearms and guns in your will and offer tips regarding what to consider when bequeathing weapons.
Understanding Cryptocurrency in Estate Planning
Understand how to manage cryptocurrency in your estate and plan for the succession of your digital assets from estate planning experts.
Tips for Managing Digital Assets of a Deceased or Disabled Person
Tips for adding a legacy contact to email/social media accounts; recommendations for executors accessing digital property of disabled/deceased persons with no legacy contact.
When and How to Use a Prenuptial Agreement
Experts in estate planning explain what a prenuptial agreement (a.k.a. premarital agreement) is, why you should get one, when in the marriage planning process to discuss it, and more.
How to Pay for College for a Grandchild or Someone Else
Tax experts offer recommendations to grandparents and benefactors on how to contribute to a student’s education without jeopardizing grants and paying taxes.
Understanding Life Insurance Policy Ownership
Answers to life insurance policy ownership questions, insurance options, an explanation of irrevocable life insurance trust and more from an estate expert.
Life Insurance Policies and Estate Planning
A general overview of the risks and rewards associated with term and permanent life insurance policies and factors to consider in choosing the right policy.
The Basics of Fiduciary Income Taxation
An explanation of fiduciary income tax and how it is different from the estate tax.
What is Portability for Estate and Gift Tax?
An explanation of portability of the estate and gift tax exemption and what to consider if electing to use it.
Should Your Adult Child be a Co-Signer on Your Bank Account?
Estate planning experts explain why it is a bad idea to have an adult child as a co-signer on a bank account.
Common Ways to Title Your Home
Understand your options when titling your home Tenancy by the Entirety (TBE), Joint Tenants with Rights of Survivorship (JTWROS) and Tenancy in Common (TIC), and more.
Owning Property and Titling Assets
An overview of how to title property – joint ownership, tenancy in common, joint tenancy with right of survivorship, tenants by the entirety and community property.
When Should I Use My Estate and Gift Tax Exemption?
Learn about the significance of gift tax exemption and estate tax exemption when considering a lifetime gift in estate planning.
Who Pays Taxes on a Gift?
Learn about the significance of gift tax exemption and estate tax exemption when considering a lifetime gift in estate planning.
What is a Prenuptial Agreement?
Learn when it’s important to create a premarital agreement and what to consider if you live in a community property state from ACTEC Fellows.
What is Community Property?
Understand what community property is, how it affects assets such as a home or a business, what is quasi-community property and more.
What is Joint Tenancy and When Should I Use It?
ACTEC Fellows offer professional information regarding the joint tenancy including the advantages and disadvantages or holding assets in joint tenancy.