Junior Blind of America’s Board of Directors is pleased to welcome Amir Atashi Rang, Esq. as its newest member. A longtime friend of Junior Blind’s Blind Babies Foundation program, Mr. Atashi Rang has been a passionate and loyal advocate for the children, youth and adults Junior Blind serves for many years.
“We are fortunate to count on Amir’s leadership and vision as part of our Board of Directors,” says Miki Jordan, Junior Blind’s President and CEO. “He is a brilliant and accomplished attorney and businessman whose dedication, experience and expertise will help Junior Blind effectively advance its mission and strategic objectives.”
Junior Blind’s Board of Directors is comprised of individuals from the medical, business, entertainment and volunteer communities across California. The Junior Blind Board of Directors’ role is to carry out the mission of the agency by helping to ensure financial viability in support of high-quality, distinctive and pioneering services for those who are blind, visually impaired or multi-disabled. The Board serves as the policy-making and oversight body of Junior Blind and has the fiduciary obligations with respect to such functions.
Mr. Atashi Rang is the principal of the Atashi Rang Law Firm, P.C. in San Francisco. He is a Certified Specialist in Estate Planning, Trust and Probate Law, State Bar of California Board of Legal Specialization, and an adjunct professor at Golden Gate University LL.M. (Taxation) program. He has also served as a member of the Executive Committee of the Taxation Section of the State Bar of California. After receiving his Bachelor of Science degree from Santa Clara University, magna cum laude, Phi Betta Kappa, he obtained his Juris Doctorate degree from UC Hastings College of Law, and his LL.M. degree in taxation from Golden Gate University.
So, you’ve worked hard to set up your estate plan (trust, will, powers of attorney), and you think you can set it and forget it, right?
Not so fast! There are five life changes when you’ll want to make sure you review your documents and make necessary changes.
You have a new child!
Maybe it’s your first or it’s your third. Your estate planning documents are filled with references to those little ones. If it’s your first child and you haven’t picked a guardian, now is the time to do so. Your documents might not even currently provide for your newest addition, make sure to check with an attorney to have them included. If your current children are already included in your estate plan, make sure your newborn is also included. Most documents provide for your children (and future children) by including a reference to “descendants”. Some documents don’t! Make sure your children are provided for by updating your estate plan to include the new child’s name and birth date.
You bought a new home!
You took ownership to that new home as trustee of your trust, right? Buying a house is stressful enough, most clients forget that they need to take ownership to the property as ‘trustee’ of their trust. We often see clients forget this critical piece . When you buy a home, stop and think, “I need to update my trust!” Make sure you not only take title to the property as trustee of your trust, but you are listing the new property on your Schedule of Trust Assets. Make sure your trust does its original job — avoiding probate — by contacting an attorney to double check the house is in your trust!
You moved to a new state!
Believe it or not, each state has its own laws and probate code. If you move to California from New York (or anywhere else!), you need to make updates to your estate plan. Most of your documents are state specific, so a new attorney licensed within that state will likely need to restate your trust to incorporate that state’s new laws. This sounds complicated, but it’s commonly done as the Bay Area is the home of many out of staters.
Your relationships have changed!
The trustees, executors and agents you’ve chosen in your plan are crucial for your wishes to be followed. Make sure the ones you’ve listed are still the best suited for the job. Some clients will name their parents in these roles. However, as parents age, their ability to deal with detailed financial information is greatly reduced; as such they may no longer be the best fit for your estate plan. You may have named a friend, but you aren’t close with them or they’ve moved out of the country. Take a look at those people you’ve nominated to make sure they are the ones you trust to handle your finances and health care decisions when you no longer can.
Do you closely follow each change in tax laws? I didn’t think so. Tax laws can change on a state level, but also at the federal level. Estate planning attorneys follow these changes. Tax changes can be on a property tax level, estate tax level or income tax level. It’s important to revisit your plan every few years to make sure that your plan efficiently transfers the bulk of your assets to your beneficiaries as soon as possible with the least amount of taxes and fees.
by Amanda Ewing-Rice, Esq., Associate Attorney, Atashi Rang Law Firm PC
The Atashi Rang Law Firm PC has partnered with David Enemark, Certified Financial Planner, of Morgan Stanley to present a free workshop: Estate Planning for Parents with Young Children.
When: November 16, 2016 at 6 PM to 8 PM
Learn about the basics of an estate plan, nominating guardians, creating health care directives and incapacity planning. You will find out the difference between a will and a trust, the best way to protect your estate for your children and more.
Light refreshments and appetizers will be served.
Where: 1001 Page Mill Road, Building 4, Suite 101, Palo Alto, CA 94304
How do I RSVP? Email Staff@arp-law.com or call (415) 398-7275 and ask for Amanda Ewing-Rice.
Like any other complex subject, estate planning has its share of myths and misconceptions. Understanding the top three estate planning myths will help you to create and maintain a plan that will work the way you expect it to work when it’s needed.
Yes, even the undead need an estate plan. After you stop laughing you need to hear me out. As we’ve learned from the likes of The Vampire Chronicles, the Twilight saga, and HBO’s True Blood, vampires aren’t immortal. They do die, and it’s usually unexpected and messy.
Who needs a Community Property Agreement? Married individuals who own property that has appreciated or is expected to appreciate during their lifetime. The most common examples of such property are stocks and real property. How do I get started or learn more about whether I can benefit from executing a Community Property Agreement with my spouse? We, at the Atashi Rang Law Firm, would be happy to schedule a meeting or call to discuss whether this agreement is a good fit for you. Call us today to get started and do not hesitate to contact us with any questions.
Planning for your death may seem a bit morbid. Yet proactive people protect their loved ones and their estates through well drafted and properly funded estate plans. A good estate planning attorney will create a comprehensive plan to address your goals and concerns. Here are the top five reasons you need to get started on your estate plan today