Ep. 28 Preserving Your Wealth: Exploring Trusts, Probate, and Legacy Planning with Jennifer McGibbons and Patty Garcia
Gain valuable insights from experts Jennifer McGibbons & Patricia Garcia on how to plan for the future, navigate estate administration & manage family dynamics. In this episode.
Gain valuable insights from experts Jennifer McGibbons & Patricia Garcia on how to plan for the future, navigate estate administration & manage family dynamics.
In this episode, Ron is joined by estate planning experts Jennifer McGibbons and Patty Garcia. Jennifer specializes in estate planning, trust administration, and charitable planning, while Patty is a licensed professional fiduciary. Together, they emphasize the importance of informed decision-making and proactive planning to enhance quality of life for parents and their children as they age. They discuss the complexities of blended families, conflicts that can arise during the planning process, and the significance of open communication for everyone’s benefit. After all, at the end of the day, the point is to keep everyone together at Thanksgiving!
Red flags in existing estate planning documents, such as asset complications and selecting co-trustees or fiduciaries, are addressed, while the responsibilities and intricacies of being a trustee or fiduciary, including managing assets, paying bills, and handling personal property, are also highlighted. There is a lot more to it than meets the eye.
The conversation also touches on gifting and tax implications, specifically, tax law changes, addressing tax-related issues in estate planning, and the challenges of finding suitable retirement communities. Older adults and their children need to stay informed, seek professional guidance, and take proactive action, and Jennifer and Patty gift us with all the right insights to make informed - and the best - decisions for the whole family regarding estate planning. An informative and enlightening episode.
Let’s Get Social!
Websites:
Jennifer: https://www.smalawsd.com
Patricia: https://modernfiduciary.net
LinkedIn:
Jennifer: https://www.linkedin.com/in/jennifer-mcgibbons-37459b2/
Patricia: https://www.linkedin.com/in/patricia-garcia-clpf-ncg-ea-b22b5225/
Thank you for being here!
~ Ron Greenwald
Greenwald Realty Team
Senior Real Estate Specialists
(844) 782-9674
DRE 01264025
Visit us here: https://www.greenwaldrealtyteam.com/
Produced by Imagine Podcasting https://www.imaginepodcasting.com/
Jennifer McGibbons
Attorney
Jennifer is a founding partner of Sullivan, McGibbons, Crickard & Associates LLP. She provides the Firm’s clients advice in the areas of estate planning, estate and trust administration, probate, and charitable planning. Jennifer is a Certified Specialist in Estate Planning, Trust, and Probate Law by the California State Bar. Jennifer has been recognized as a California “Super Lawyer” by Super Lawyers® magazine in the area of estate planning since 2016 and has the rating of AV Preeminent from the Martindale Hubbell®. She has given numerous presentations on estate and trust topics for various organizations, including the North County Estate Planning Council of San Diego, San Diego Estate Planning Council, San Francisco Estate Planning Council, STEP Orange County, and CEB. Prior to forming Sullivan, McGibbons & Associates, Jennifer practiced at Henderson, Caverly, Pum & Charney LLP, and at Luce, Forward, Hamilton & Scripps LLP, in San Diego.
Patricia Garcia
Principal
Patricia Garcia ("Patti") is President and Principal of Modern Fiduciary, Inc. Ms. Garcia is a California Licensed Professional Fiduciary with over 25 years of experience in the trusts and estates field. She has worked in the law firm setting in the estate planning, tax and probate field for most of her career, primarily assisting client Trustees and Executors with trust and estate administrations. Ms. Garcia provides professional fiduciary services by acting in the capacity as a Trustee, Executor, Conservator or Agent. In addition, Modern Fiduciary also provides consulting services, prepares probate and trust accountings, and prepares estate and gift tax returns.
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