WASHINGTON, Sept. 15, 2016 /PRNewswire-USNewswire/ -- The American College of Trust and Estate Counsel, the leading association of trust and estate lawyers and trust counsel peer-elected to membership, today launched the first two in a series of YouTube videos, as part of the "ACTEC Family Estate Planning Guide."
The videos feature 10-minute talks presented by ACTEC Fellows who speak to a live audience highlighting common questions and worse case scenarios that illustrate the value of preparing an estate plan customized to the needs of a family. The speakers offer insights targeted to help families plan and protect their assets and personal well-being and explain terms to help viewers engage in an informed discussion with their lawyer or advisor.
"The video series gives ACTEC a platform to address frequently-asked questions and share the vast experience of our practitioners directly with consumers," said ACTEC President Cynda C. Ottaway. "ACTEC members serve a spectrum of clients - from individuals of modest wealth to large family businesses with complex interests – and our goal is to offer an educational resource to encourage planning for families of any means."
The inaugural videos in the series feature prominent ACTEC Fellows and Elder Law experts Bernard A. Krooks and Professor Mary F. Radford.
The Most Important Gift
In "Understanding Powers of Attorney," Krooks suggests a Power of Attorney (POA) "is the single most important gift you can give your family and loved ones. Something that will make their lives easier in the event something happens to you." Krooks explains incapacity, how the law varies by State, the Immediate or Durable POA, and whether you need a customized document or not.
Can I Avoid Probate, Taxes, and Creditors
Professor Radford defines a Living Trust or "What is a Revocable Trust and Do I Need One?" by sharing a real-life situation debunking some common myths regarding Avoiding Probate, Taxes, and Creditors, Retaining Privacy, and a primary reason why most people may want to think about having a Revocable Trust.
Elder Law and Special Needs Experts
Bernard A. Krooks is a founding partner of the law firm Littman Krooks LLP (New York) and Chair of its Elder Law and Special Needs Department. He is past President of the National Academy of Elder Law Attorneys (NAELA), certified as an Elder Law Attorney (CELA) by the National Elder Law Foundation and is an Accredited Estate Planner (AEP). Krooks co-authors (1) a chapter in the NYSBA publication Guardianship Practice in New York State entitled "Creative Advocacy in Guardianship Settings: Medicaid and Estate Planning, Including Transfer of Assets, Supplemental Needs Trusts & Protection of Disabled Family Members;" and (2) the NYSBA publication Elder Law, Special Needs Planning and Will Drafting. Krooks is a member of the National Association of Estate Planners & Councils (NAEPC) Estate Planning Hall of Fame and is the recipient of the Accredited Estate Planner Distinguished designation and the NAELA New York Chapter Outstanding Achievement Award for lifelong work on behalf of seniors and individuals with disabilities.
Professor Radford teaches at the Georgia State University College of Law with specializations in Elder Law and Wills and Trusts. She is past President of ACTEC (2011-2012.) Radford is the author Georgia Trusts & Trustees; Guardianships & Conservatorships in Georgia; the sixth and seventh editions of Redfearn: Wills & Administration in Georgia; and numerous law review articles. She served as the reporter for the Georgia Trust Code Revision Committee (2005-10), the Georgia Guardianship Code Revision Committee (1997-2004) and Georgia Probate Code Revision Committee (1992-96) of the State Bar of Georgia. She was the principal draftsperson for Georgia's newly enacted Trust, Guardianship, and Probate Codes. She was the 2004 Chair of the The Association of American Law Schools (AALS) Section on Donative Transfers, Fiduciaries, and Estate Planning. In 2009, she was awarded the Verner S. Chaffin Career Service Award by the Fiduciary Law Section of the State Bar of Georgia. In 2002, she was awarded the Treat Award for Excellence by the National College of Probate Judges.
Find an ACTEC Fellow
The American College of Trust and Estate Counsel (ACTEC)
Established in 1949, ACTEC is a nonprofit association of lawyers and law professors skilled and experienced in the preparation of wills and trusts; estate planning; and probate procedure and administration of trusts and estates of decedents, minors and incompetents. Its more than 2,600 members or "Fellows" practice throughout the United States, Canada and other foreign countries. Candidates for election to the College must meet rigorous eligibility criteria including, but not limited to, no less than 10 years experience in the practice of probate and trust law or estate planning.
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SOURCE American College of Trust and Estate Counsel