Sunday, December 20, 2015

Holiday Greetings - A message from The Law Office of Lynn A. Dean


Dear Friends and Clients:

As the year draws to a close, it's a perfect opportunity to thank you for entrusting The Law Office of Lynn A. Dean with your estate planning needs.

Many of you have already met estate planning attorney Tracy L. P. Shows, who joined my practice this fall. If you've had the opportunity to work with Tracy, you know why I'm delighted to welcome her as a new associate. It's wonderful to have someone who can provide the warm and caring service that our clients expect. Tracy is very dedicated and competent, and does a very thorough job with every client.  If you want to read more about Tracy's background, please see our website.website

I may be reducing my hours next year in order to take care of my aging parents who have recently moved to the area. I will also be taking a special month-long vacation in February to New Zealand & Australia. That said, here's what will remain constant: Providing the same level of compassion and expertise you've come to know from my firm and capable staff!

Thanking you once more for trusting your family's important needs with us!

Sincerely,
Lynn A. Dean and staff

Monday, March 2, 2015

FREE Lunch & Learn Seminar on Estate Planning & Charitable Giving

Lynn A. Dean is one of three professionals presenting Thursday, April 16, 2015 during a lunch & learn seminar hosted by Captains David & Erin Kauffman of the Salvation Army, 2550 Alhambra Boulevard, Sacramento, CA.
  1. Lynn A. Dean, Estate Planning Attorney, The Law Office of Lynn A. Dean
  2. Scott Hanson, Financial Advisor, Hanson/McClain 
  3. Mitch McConkey, Gift Planner, The Salvation Army 
Topics: Estate Planning in Plain English - Benefits of a Living Trust - Helping children avoid "sudden-wealth syndrome" - Choosing the right options for your IRA and 401K - Using charitable gift planning to maximize your income and minimize your income taxes.

INVITE FAMILY & FRIENDS! SEATING IS LIMITED. RESERVATIONS ARE NECESSARY. call 888-214-8229 or e-mail: plan2give@usw.salvationarmy.org



Monday, February 23, 2015

Living Toolkit for Organizing Financial, Medical & Personal Affairs

Lynn A. Dean
Estate Planning Attorney
Tax preparation tends to prompt our thinking about getting better organized. Whether it’s gathering receipts, shredding old files, or donating unused clothing, we have intentions to review our current affairs.  Often overlooked, but equally important, is the personal checklist about our financial, medical and personal affairs. We don’t anticipate an emergency, but the reality is life events happen. If something were to happen will your family, neighbor or close friend be scrambling for key information to help you? Here are a few questions to jump start your personal checklist into writing:

  • Who are your close friends and relatives? (Names & phone numbers)
  • What medications do you take and is there a list allergies, doctor names, phone numbers, Insurance ID? Do you have an Advanced Health Care Directive that appoints someone to discuss your care and where is it located? Have the appointees been informed so that they know what to do? 
  • Are your estate documents (such as wills and trusts) and beneficiary information current? When was the last time these documents were reviewed? Events that trigger a review of these items include marriage, divorce, births and deaths within the family, and tax law changes.
  • Do you have financial Power of Attorney in place? This will appoint someone you trust the ability to take care of matters if you are unable to. 
  • Have you created a list of your assets and financial accounts and is there a list of your financial advisors, accountants’ names & phone numbers?
  • Who have you named as beneficiaries on other assets such as IRA’s, 401Ks, insurance policies?
  • Have you had the conversation about the location of the aforementioned subjects and other important documents?  In plain terms: Where are your documents?

Lastly, consider creating a list of all your passwords and logins to your electronic devices and on-line accounts.

We offer a free download from our website called “The Sandwich Generation Toolkit.” People are using it to document all the answers to these important questions for themselves and for those they care about.

Click here for the free download - Checklist (will insert hyperlink)

Thursday, February 19, 2015

SPEAKING ENGAGEMENT: Be Prepared for the "what if's" of life.

Lynn A. Dean
Estate Planning Attorney
Lynn A. Dean will be presenting at an open community forum hosted by Casa de Santa Fe, a MBK Senior Living Company, in Rocklin California. This is for family, friends and those interested in hearing about the power of power of attorney documents.  Often the topic includes other facts that are insightful for people of all ages. Lynn likes to approach this topic in real terms because all of us have or have had situations occur where being prepared was a life line.

Event Details: March 18, 2015 3:00 PM
3201 Santa Fe Way, Rocklin, CA 95765
RSVP: 916-435-8800
EVENT FLYER: Click Flyer.

A power of attorney (including healthcare directives) is considered “durable” when it allows someone to make those decisions, even when you become mentally incapacitated. Powers you assign can be limited or broad, and cover things like buying property, initiating contracts, tax planning, making gifts, or planning for government benefits, like Supplemental Security Income (SSI) and Medi-Cal.

While issues involving the interdependence of legal, tax, financial, personal, family, and health concerns may be complex, Lynn has the experience and know-how to ensure all important facts regarding your estate are evaluated, and using this information, creates a customized plan that best protects your interests.

Thursday, February 12, 2015

Back to Basics: Financial Power of Attorney


Lynn A. Dean
Estate Planning Attorney
There are two different kinds of powers of attorney. One is for financial matters, and the other is for health care decisions. The financial power of attorney is called a General Power of Attorney, or may be titled "Statutory Power of Attorney." This power of attorney may allow the agent (also called an attorney-in-fact) to sign documents, withdraw funds from a bank account, sell real estate, create a trust, and gift assets belonging to the principal (you). The powers of the agent are specified in the power of attorney.  

If the power of attorney is a "springing" power of attorney, it cannot be used unless you are mentally incapacitated. The power of attorney will state what is required before it can be used. For example, it might say that in order to use this power of attorney, the agent must have letters from two doctors stating that the principal (you) is no longer able to manage their own personal and financial affairs.  

If the power of attorney is not a springing power, then it is typically good immediately, and can be used by the agent EVEN IF you are still able to make all of your own decisions. The general power of attorney terminates upon the death of the principal. 

The other power of attorney is called an Advance Health Care Directive. This document appoints a person (agent) to make health care decisions when the person is no longer able to make their own decisions. This agent is also allowed to make final arrangements for disposition of the person's body, and therefore continues even after that person has passed away.  

A person who is acting on behalf of another, using a power of attorney, is considered to be a fiduciary, and must act in the best interests of the principal. They are prohibited from using the power of attorney to benefit themselves, unless the power of attorney specifically allows them to do so. 


Triggers for obtaining or updating your power of attorney:
  1. Turning 18
  2. Marriage
  3. Divorce
  4. Birth
  5. Death
  6. Enlisting
  7. change in mobility or health
  8. Relocation
While issues involving the interdependence of legal, tax, financial, personal, family, and health concerns may be complex, The Law Office of Lynn A. Dean will make the process quick and easy. We have the experience and know-how to ensure all important facts regarding your estate are evaluated, and using this information, we create a customized plan that best protects your interests.