Law Offices of Brianna Bocian

02/19/2022

It's never too early to prepare for the future. Contact us today to set up a living trust and other estate planning documents to give you peace of mind.

www.bocianlaw.com

11/26/2020

Happy Thanksgiving!

06/04/2020

Women outlive men, make less during their careers and have less in savings due to pay discrepancies and time taken out of the workforce to raise their families.

These are just a few reasons why it is important for you to know the following about estate planning:

A will and a living trust are both essential estate planning tools, and although both can be used to transfer assets upon death, they serve separate purposes. A living trust can take effect while you are alive or after death. It allows you to hold assets for your benefit during your life, which may prove useful if you become incapacitated in the future. A living will can also be beneficial if you own real estate in another state. A will only takes effect upon death, and is used to appoint guardians for minor children, cover assets that are not part of a living trust and create trusts that kick in after death.

Women need to execute financial and healthcare durable powers of attorney and consider choosing a member of the family if that person is willing to assume the responsibility of making financial and/or medical decisions on your behalf in case of incapacity. And, if you are married or partnered, make sure your spouse or partner does the same because you’ll be the one who is handling things if anything happens to your spouse/partner and you want it to be as easy as possible.

Make sure your partner/spouse has life insurance to support you for as long as you will need support and that there’s enough to last your whole lifetime, unless you will have your own savings.

Don’t own your own life insurance policy as the proceeds will be subject to estate tax after you die. Instead, if your life insurance is designed to pay estate taxes, designate a spouse or other family member as owner or set up an irrevocable life insurance trust (ILIT), which buys the policy and holds the proceeds for beneficiaries. And again, if you have a taxable estate, make sure the same is set up for your spouse’s life insurance.

Keep beneficiary forms for retirement accounts (IRAs, 401(k)s, etc. ) up to date, as they determine who receives the assets of each one of your accounts.

Make sure there is enough cash held in a joint account to handle any immediate expenses if your spouse dies suddenly. You may not be able to access a deceased spouse’s separate bank account right away.

Married couples can participate in “gift splitting” during life, which means they can share each other’s $23.16 million lifetime gift exclusion and can each make gifts each year and give more to their children now tax-free. We recommend you transfer as much as possible during life for many reasons. Ask us about it.

05/26/2020

Is Your Family “Too Young” to Need an Estate Plan?

Young families face different estate planning needs and challenges than those who have had a long life behind them. While established families may be concerned about what will happen to their family when they pass on, young, growing families can be more focused on what is happening to their family in the present. And you even may find it hard to justify planning for an “estate” you haven’t yet established!

But here’s the thing … if you have children, or anyone else you care about, you may not have an “estate”, but you do need estate planning, if you want to ensure your loved ones wouldn’t be stuck in Court and/or conflict, if anything happens to you.

Here are a few estate-planning issues important for young couples to consider as soon as they start a family:

The Care and Custody of Your Children
If you die or become incapacitated before your children reach 18, they will need a legal guardian. To ensure your children are only ever in the care of people you want and choose, you need to name both temporary and long-term guardians for your children.

Identifying friends or family as the “godparent” of your child isn’t enough. You need to legally document your choice. And, naming just one person or a couple won’t cover it either. Name at least 3 options, in case back-ups are needed.

Also, ensure that you have not just named legal guardians in your Will, for the long-term.

If something happens to you and your child is home with a babysitter, or at school, you want to also name local people, friends or family, who would immediately be able to be called upon by authorities. And, those people need to have legal documentation on hand to step in and make immediate, short-term decisions for your littles.

We recommend a comprehensive plan to ensure there are no gaps, for even a minute, in the care of the people you love most.

The Management of Your Children’s Inheritance

Remember, when you die, the assets left to your minor children will need to be managed by someone at least until they turn eighteen. If no one is identified for this task, the court steps in and appoints “professionals” to take over the role, which can cost your children their entire inheritance.
And, it’s totally unnecessary. With just a bit of prior planning, you can keep your loved ones out of the Court system entirely and give total control to the people you know, love and trust.

The Authority to Make Decisions for You

Finally, no matter what your age is, or how big or small your assets are, you want to put in place the documentation that appoints the people you would want making decisions for you, if you cannot make your own decisions.

Once again, the focus here is on keeping the people you love out of Court during what would be a hugely stressful time for them.

Estate planning is a key part of growing up, and showing up for the people you love. So, yes, you may be a young family, but once you’ve become a family, you’re not too young to plan well to make things as easy as possible for the people you love.

As your attorney, we will help you make the very best financial and legal decisions throughout your life, and for the beyond. Far from being a morbid task, estate planning can give your young family the peace of mind, confidence, and security you desire when it comes to the future well being of all members of your family.

05/20/2020

So You’ve Been Named the Trustee of a Trust...Now What?

Many of you who have been asked by a family member of close friend to serve as the trustee of a trust are honored that the trust owner feels confident in relying on their good judgment to undertake this important responsibility. And it’s very likely you have no idea what you have just said yes to take on. Being a trustee means that you are responsible for all oversight and direction of the assets of the Trust. As a Trustee, you have what is known as a fiduciary duty to the beneficiaries of that trust. There are laws you must abide by in administering the trust, in addition to the terms of the trust that set out your duties as trustee.
A trustee's duties include, but are not limited to:
• Administering the trust according to 
its terms 

• Communicating with beneficiaries 
about the various activities of the trust 

• Investing and managing trust assets 
in a prudent manner 

• Accounting for and paying any taxes 
or fees 

• Distributing assets to beneficiaries as 
outlined in the trust 

• Making an accounting of trust assets, 
liabilities, receipts and disbursements 
to beneficiaries.

As a Trustee, you may find yourself involved with the probate process at some point and have to go into Court to marshal assets. If some of the assets of the estate were not properly transferred into the trust, this process can be overwhelming, especially if you do not have prior experience in this area.
Thankfully, with a good lawyer on board, you do not have to navigate this process alone. Engaging experienced legal help is always the best option for trustees, with the trust being responsible for any fees incurred for legal services.
If you would like some guidance on trust administration or planning for smooth administration of an estate, call our office today to schedule a time for us to sit down and talk.

03/26/2020

***Update Regarding COVID-19***

With the current global crisis, the Law Offices of Brianna Bocian is here to remind you to wash your hands, and be kind to one another. Use this time to take care of the things you put off – the things to which you always say “I’ll get to that one day”. Right now is an excellent time to ensure your future is secured with estate planning documents such as a Revocable Living Trust or Last Will and Testament, Amendments to a Living Trust, Codicil to Wills, and updating Powers of Attorney, and we want you to know we’re here to help.

As always, the Law Offices of Brianna Bocian offers a remote-based system which allows you to connect with your attorney via telephone, e-mail, and mail. Our attorneys are able to complete most legal work remotely, so there is no need for a face-to-face interaction until the signing of documents is scheduled. To many, this system makes the client experience much more streamlined than the traditional office setting.

Estate Planning Documents to Consider:
- Revocable Living Trusts
- Last Will and Testament
- Durable Power of Attorney
- Advanced Health Care Directive
- HIPAA Authorization & Waiver

Our team is fully operational and here to support you however we can. For more information or to schedule your free 30-minute phone consultation, please call us at 619) 365-5310, or e-mail us at [email protected]

02/21/2020

Great article from Katie Charleston Law.

I often hear from prospective clients looking to save a buck that it’s cheaper to just use LegalZoom or other online template services. Of course it is. A template is a form without any guarantees, experience, or education that can tell you what your situation requires. Here’s my response: if yo...

09/27/2019

For three years I’ve been serving San Diego clients and helping them prepare for the future. I have enjoyed these three years and look forward to more!

12/24/2018

Merry Christmas and Happy Holidays! We hope everyone has a joyous holiday season.

09/21/2018

What will happen if you die without leaving a will? Instead of you deciding who gets your small business, the government decides.

09/13/2018

I was honored to receive the Most Valuable Pro today at the San Diego Pros meeting. I really enjoy being part of this group.

08/30/2018

Check out this blog about estate planning tips with quotes from the Law Offices of Brianna Bocian.

When estate planning is done wrong, it can create havoc on heirs after a family member passes. Estate Planning is not a fun topic to discuss, but it … Read more ►