Estate Planning Videos
Estate Planning Basics
This video explains revocable living trusts and wills, and how they are used for estate planning in California. The advantages of living trusts are highlighted including probate avoidance, cost savings, privacy, and incapacity planning. Based in Orange County, Dwight Edward Tompkins focuses on estate planning and family trusts.
Probate Basics in California
This overview explains Probate in California, and describes the six general steps involved in the probate of a Will. The problems associated with a California Probate are highlighted, as well as the alternatives to using a Will in Estate Planning.
The Probate Privacy Problem
This video reveals how California Probate case files are a public record, and are open to anyone to inspect, copy, and publish publicly.
Avoiding Probate
This video explains the basics of Revocable Living Trusts and why you need one. Triggers that cause an estate to go into probate court are discussed.
Living Trusts
This video explains how revocable living trusts avoid probate, and other advantages for clients in California. Living Trust Attorney Dwight Edward Tompkins points out how a living trust can provide management of assets for children and other beneficiaries.
Special needs trusts for disabled adult children are highlighted in the video. I provide comparisons between the use of a will vs a living trust.
Orange County Estate Planning: Trust Funding
Trust funding makes a living trust work. Estate planning lawyer Dwight Edward Tompkins explains how real estate, personal property, and bank & investment accounts are funded into the living trust. Exceptions to the rule are also highlighted.
Doing Nothing, the BIG MISTAKE!
This video highlights the BIG MISTAKE of doing nothing (failing to plan).
California residents who fail to plan their estates are subject to the rigid control of the probate code and court. Lawyer Dwight Edward Tompkins reveals the unintended consequences of the intestate succession statutes in California.
Probate
This video explains how probate cases are triggered in California, and how Revocable Living Trusts avoid probate.
Living Trust Failures: Costly Mistakes to Avoid
This video warns of the danger of botched trusts which fail to carry out the client's estate plan. Botched trusts include badly written trusts, unfunded trusts, and unexecuted (unsigned) trusts. Failed trusts are commonly produced by non-lawyers. Living trusts should always be created with the assistance of a qualified estate planning attorney.
Orange County Living Trusts: Trust Administration
Trust administration steps are set out in this video, and the importance of the role of the trustee is explained by Estate Planning lawyer Dwight Edward Tompkins.
Special Needs Trusts
Parents of special needs children face the challenge of preparing an estate plan to protect their family while at the same time ensuring that their special needs child is cared for in a manner that does not interrupt vital governmental benefits for that child. Dwight Edward Tompkins, an Orange County Estate Planning attorney breaks down how a special needs trust achieves the those goals.
Pet Trusts
An explanation of the essentials of setting up a Pet Trust in California, including the appointment of the trustee and the custodian of the benefited animal.
When to Review and Amend Your Trust
This video outlines when to review and amend revocable living trusts. Attorney Dwight Edward Tompkins discusses how family changes, changes in assets, and in relationships impact the goals and objectives in estate planning.
The Problems with Joint Tenancy
This video discusses how the use of Joint Tenancy creates multiple problems for married couples, widows and widowers. Southern California Attorney Dwight Edward Tompkins explains how Joint Tenancy is not a true estate plan, but a way to hold title. Various tax and creditor-related problems occur when Joint Tenancy is used in place of an effective estate plan.
Community vs. Separate Property
This video explains the concept of community property vs. separate property in marriage, and its significance in estate planning. This is important for couples considering marriage, and for married couples planning their estates.
Wills
This video describes the use of wills in estate planning, with emphasis on the advantages and disadvantages of using a will as a primary estate planning tool. Estate Planning Lawyer Dwight Edward Tompkins provides examples of how the will is crucial for parents concerned about the nomination of guardians for minor children. Attorney Tompkins also discusses the costs involved in the probate of a will in California, including fees and delays arising out of the court processes.
Incapacity Planning
This video explains the importance of incapacity planning in CA, and the differences between living wills, powers of attorney for health care, and advance health care directives. Estate Planning Lawyer Dwight Edward Tompkins emphasizes how the use of the California Medical Association Form for the advance health care directive is recommended because of its acceptance among California doctors. He clearly distinguishes living wills from living trusts which are often confused in the media.
Understanding Estate Taxes
In this video, the important points to consider about the Federal Estate Tax when planning your Estate is discussed. The Federal Estate Tax law has historically contained an "exemption amount" which often changes year to year. Knowing how to apply the exemption amount and what your estate is valued at are key elements to take into account in every estate plan.
Durable Powers of Attorney
The proper use of a Durable Power of Attorney for management of assets and money is explained in this video. Powers of Attorney have limited uses, and it is important not to confuse a power of attorney with a complete estate plan. If you are considering executing a Power of Attorney, this video contains vital information you should know.
Prenuptial Agreements
Anyone entering into a second marriage who has assets of their own and children should consider a prenuptial agreement as part of their estate plan to protect the assets they own prior to marriage, and to protect their children. California Attorney Dwight Edward Tompkins explains how a prenuptial agreement in these circumstances will clarify the ownership of property between the prospective spouses and protect family.
Irrevocable Trusts
The basics of irrevocable trusts and a description of the three most common uses of irrevocable trusts are covered in this video, including Special Needs Trusts.
Business Planning
Business Planning involves setting goals and objectives, analyzing tax consequences and operational realities, and selecting the right business structure: corporations, LLCs, and partnerships. Orange County California lawyer Dwight Edward Tompkins outlines the critical steps to forming a profitable and efficient business.
Business Succession Planning
Business Succession Planning is a critical part of estate planning for those who own a family business. Tax impacts and avoidance of family conflicts due to the change of control and ownership are important to consider when forming a business succession plan.
Life Insurance in Estate Planning
This video explains the importance of life insurance and how it fits into the overall estate plan. Guest speaker Suzanna Sanchez discusses the various kinds of life insurance products that are available today.
Estate Planning: Maximizing Company Benefits
This video explains why you should maximize company benefits offered by your employer in order to build wealth during your lifetime, and create an estate for your family when you pass away. Guest speaker Suzanna Sanchez provides an excellent overview given in a seminar to a live audience.
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Estate Planning For Unmarried Couples
Unmarried couples who wish to benefit their partner in the event of their passing away need to form an estate plan, either through a will or living trust. Failure to create an estate plan will cause their partner to be excluded under California intestate succession law, because unmarried partners are not considered "heirs" under law.