Check out our latest edition!
APRIL 2023
Meet Jessica, Our New Attorney She’s Here to Make Your Life Easier!
I like to keep things simple. Life is easy at home: It’s me, my two cats, and my piles and piles of books. I spend the weekends outside enjoying the San Diego weather. You can find me walking around the bay on warm evenings, kayaking on the weekends, or testing my newly learned sailing skills. Give me sun, water, fresh air, and kitten snuggles, and I’ll be happy! This taste for simplicity comes through in my work as an attorney. And speaking of that work, I should probably introduce myself! My name is Jessica Guiliani, and I’m the newest lawyer on the team at Preston Estate Planning. I started working for Preston — or really, working for you — in November 2022, and I’ve enjoyed every day since.
With smart estate planning, we can provide the clarity you need to avoid conflict instead of charging into it. I’m relatively new to the Preston team, so for now, I’m focused on reviewing Trusts and Trust documents like Advance Health Care Directives, HIPAA Releases, Financial Powers of Attorney, and Last Will and Testaments. Soon, though, I’ll be working directly with clients like you! I look forward to helping as many people as possible avoid litigation and gain peace of mind knowing their wishes will be carried out accurately and without conflict.
There are hundreds of estate planning firms out there, but unlike most of them, the team at Preston doesn’t just rest on their laurels. Doing things the way they’ve always been done isn’t good enough for us — as the law changes, we change our practices with it! I think it’s amazing that the team is constantly learning and growing to do what’s best for our clients. As someone who loves reading and learning, I feel right at home! Now that my work is about keeping things simple, going home to walk around the bay, read my latest novel, and snuggle Parker and CC just feels right. (Parker is my reserved black cat. CC, on the opposite side, is named after Bette Midler’s character in “Beaches” — she’s a redhead and needs a lot of attention.) If I haven’t met you yet, I hope I will soon! Like the rest of the Preston team, I’m here to make your life a little easier. –Jessica Guiliani
My entire goal is to make your life easier — and that’s exactly what Preston’s Life Plan
Membership does. You don’t have to worry about what will happen to
I love this job because estate planning is about keeping things as simple and easy as possible. I gravitated toward
your assets when you pass or stress out thinking of your children and grandchildren arguing over your home. We take care of it all and keep you up to date! Of course, you know that already, but I’m sharing it to explain why I chose to work at Preston Estate Planning.
transactional law at California Western School of Law because it’s the gentler side of the profession. The law can be very adversarial: It’s often a battle with winners and losers, a crusade for justice, and the pursuit of making things right. Estate planning is different.
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3 Trust Administration Mistakes!
THE RIGHT WAY TO OBTAIN A TAX ID NUMBER
If you’re named as the Successor Trustee of someone else’s Trust, one of your responsibilities when they pass away will be obtaining the Tax ID Number for their Trust. Going online, completing a 15-minute questionnaire, and getting a nine-digit number from the IRS sounds simple, right? Not necessarily. In my experience, almost everyone who tries to obtain a Tax ID Number without expert guidance from an estate planning attorney does it incorrectly. This can create a mess because it triggers a complicated correction process with the IRS that can take weeks to resolve. That’s why I’m writing to you today! In this article, you’ll find three common mistakes Successor Trustees make during this process and how you (and one day, your Successor Trustee) can avoid them. Mistake No. 1 deals with why you are requesting the Tax ID Number — This is a multiple-choice question and one of the answers is for an “Estate.” Many people choose this answer because it seems logical, but it’s actually incorrect. If you select “Estate,” the IRS will think you’re asking for the number as part of a probate case. Instead, you should choose the option for “Trusts.” Mistake No. 2 is choosing the wrong answer to the question, ‘When was this Trust funded?’ — This question is incredibly misleading. Most people assume the IRS is looking for the date the Trust was set up. After all, you fund your Trust in the process of creating it, right? That’s correct, but that’s not the response the IRS wants. They actually want to know when the need for the trust Tax ID Number became necessary. In this case, that’s the date of death of the Trustmaker (the person who created the Trust). So, to avoid
this mistake, answer the question with the date of death — even though it makes no sense!
Mistake No. 3 is choosing the wrong answer to the question, ‘Who is the responsible party?’ — Most people assume that because they are now the Trustee of the Trust, they are the responsible party. That makes sense, right? Of course, it does, but again it’s not the answer the IRS is looking for. They actually want to know the name of the person who created the Trust and recently passed away. To avoid this mistake, respond with their name and information, not yours. Avoiding these three mistakes can be very helpful when obtaining a Tax ID Number. But many of the questions on that 15-minute questionnaire can be tricky, not just those three! With that in mind, we do NOT recommend trying to complete the process yourself. Odds are you’ll make an error and trigger a complicated process with the IRS. To avoid that, call us right away if you need a Tax ID Number and tell your Successor Trustee to do the same when you pass. We’ll get the questionnaire done right the first time. If you’ve already tried getting a Tax ID Number for a friend or family member’s Trust and run into problems, you can call us, too. We’ll help you navigate the cancellation process and get the correct number as soon as possible. – JMPreston
2 PrestonEstatePlanning.com
Making the Most of Life With Crafting
AFFORDABLE OPTIONS TO TRY
Solution on Pg. 4
Reality shows like “Making It” and “Making Fun” have brought crafting to a new generation — and reignited the passion of viewers who remember when TLC mostly aired DIY shows. “Making” hobbies are a fulfilling and productive way to spend your free time, and it doesn’t necessarily take much money or skill to start. Here are some of the most accessible and affordable crafting hobbies you might consider trying. Stitching Hobbies Almost any crafting hobby that involves needles is perfect for beginners looking for a part-time pastime. There are multiple options available for all artistic types. Those with an attention to detail may prefer the delicacy of sewing or embroidery, while less-perfectionist crafters might have a great time punch needling or quilt making. Knitting and crocheting are also perennial favorites that are back with younger crafters in a big way. Best of all, many stitching hobbyists hold regular free meet-ups filled with enthusiasts who happily pass along tips and encouragement. Papier-Mache Some would-be crafters want to get a little more three-dimensional, but trying to sculpt from clay can be intimidating, and pottery classes are often expensive or scheduled at inconvenient times. Why not try papier-mache? All you need is some old newspaper, glue, paint, and a willingness to get your hands dirty. It’s a great way to determine whether you love sculpting before exploring other options. And papier-mache is an art form in its own right, so there’s every chance you might fall in love. Jewelry Making Why spend money on overpriced fashion jewelry when you can make custom pieces? This relaxing and creative hobby takes much less to get started than you think. As long as you don’t go overboard, you can buy all the beginner tools and supplies you need for under $100. There is also no shortage of classes or online tutorials to walk you through the process. Soon, friends and family may come knocking for some original pieces. Whether you charge is your call! Any crafting hobby can get expensive and complicated, but there’s no need to worry about that yet. The above hobbies will let you wet your feet without making a big commitment. Once you’ve been at it for a while, you can determine whether your hobby will stay a casual pastime or become a more serious passion project.
Cod and Asparagus Bake Inspired by TasteOfHome.com
Ingredients
• • • • • • •
Oil for baking pan 4 4-oz cod fillets
1 lb thin asparagus, trimmed 1 pint cherry tomatoes, halved
2 tbsp lemon juice
1 1/2 tsp grated lemon zest 1/4 cup grated Romano cheese
Directions
1. Preheat oven to 375 F. In a 15x10x1-inch baking pan brushed with oil, place cod, asparagus, and tomatoes. 2. Brush cod with lemon juice, then sprinkle with lemon zest. Sprinkle cod and vegetables with Romano cheese. Bake until fish flakes easily with a fork, about 12 minutes. 3. Remove pan from oven; preheat broiler. Broil cod mixture 3-4 inches from the heat source until vegetables are lightly browned, about 2-3 minutes.
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PrestonEstatePlanning.com
12396 World Trade Drive, Ste. 301 San Diego, CA 92128
800.698.6918
Inside 1
Meet Our Newest Attorney
2 3
The Right (and Wrong) Way to Get a Tax ID Number
The Best Beginner Crafting Hobbies
Cod and Asparagus Bake
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Top 3 Extended Stay Destinations
All Aboard the Extended Vacation Trend Top 3 Vacation Destinations for a Longer Stay
Visit the national parks. There is no better way to connect with nature than to tour the national parks. Several epic national park road trips could allow you to pack in a dozen or more of these natural gems in just a couple of weeks! Many national parks also accommodate RVs for comfort and convenience. Drive the California coast. A trip up and down the California coast never disappoints. With so many great places to stop and breathtaking views to absorb, you’ll need at least two weeks to experience them properly. You’ll want to explore the Redwood National Forest, the Lost Coast, Pebble Beach, Monterey Bay, Half Moon Bay, Big Sur, Venice Beach, and many more! Hop aboard a cruise. A cruise is one of the best ways to see many destinations in one trip. You could visit several countries in just two weeks, stopping in different ports to explore! On a cruise, you could see the Caribbean one day and wake up somewhere completely different the next day with a new adventure ahead!
The pandemic slowed us down. Over the past few years, we collectively took fewer vacations, boarded fewer cruise ships, and avoided airports. However, many studies and reports show that now, more than ever,
Americans are taking longer vacations! Why might this be, and what are some of the greatest destinations for an extended stay?
According to Amex Travel’s 2022 Global Travel Trend Report, 55% of vacationers are interested in taking longer trips because they can work remotely. The trend of swapping homes is also on the rise. HomeExchange’s website reports that home exchanges of two weeks or more increased by 13% in January-May last year. According to Travel Pulse, 26% of people opt to take a trip that exceeds 10 days. If you are interested in taking a more extended vacation, whether it’s because your job went remote, you lost out on travel time in 2020-2022, or you saved on gas money while working from home, here are some great destinations that support a longer stay.
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