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NOVEMBER 2022
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Make Sure You’re Never Forgotten Why Our Family Celebrates Dia de los Muertos
When my wife Lucero was little, she and her family celebrated Dia de los Muertos on Nov. 2 every year. Her memories of Mexico match perfectly with the Disney movie “Coco.” Her family created altars for their late loved ones and covered them in photos and their favorite things, including snacks and mementos (mine would definitely have a Packers cap). Then, they visited the local cemetery and decorated their family members’ graves with flowers and candles. As Lucero explains it, if you offer your loved ones their favorite things during Dia de los Muertos (aka The Day of the Dead), they can rejoin you in spirit and enjoy the finer things in life again. How cool is that? I love the tradition of Dia de los Muertos. As a kid, I was fascinated by photos of people with their faces painted to look like skulls, but it really became special to me when I met Lucero and learned the true meaning behind the holiday. The idea that a family can keep their loved ones alive by sharing their stories,
dear to her on the altar every November. It’s our job to make sure her family doesn’t forget her (and others, for that matter), and this is a wonderful way to do it. I think being forgotten is one of the biggest fears we have as humans. We all want our legacies to live on through our children and other loved ones. I think about that every year during Dia de los Muertos, but it also comes into play in my estate planning work. Estate planning goes beyond figuring out what will happen to your assets when you pass away. It should also include preserving your traditions and how you hope to be remembered. To ensure that base is covered, I offer “Legacy Interviews” to all my estate planning clients. When someone books a Legacy Interview, we sit down together in my office and go over questions like, “Which values do you want your kids to live by?” “Where did you go for your most memorable vacation and why was it so memorable?” “If you had to describe your child in just one word,
them with their children. Sharing such personal stories and insights can be tough, but the struggle is always worth it. Years later, the audio recording of your Legacy Interview could be the inspiration your kids need to keep going on a tough day, or course-correct when they find themselves on the wrong path in life. Lucero and I will definitely record something like a Legacy Interview for Quentin one day, and hopefully, he’ll also keep our memories alive through Dia de los Muertos. We’re excited to pass on Lucero’s family tradition and really lean into the holiday. As soon as Quentin is old enough, we’ll paint his face and watch “Coco” as a family! “Coco” may be an animated Disney movie, but it’s one of my favorite films of all time. The studio captured Dia de los Muertos to a T, and the story of Miguel’s journey through the Land of the Dead to learn more about his family is heartwarming. If you’ve never seen “Coco,” definitely check it out on Disney+ this month. It may just inspire you to book a Legacy Interview.
what would it be?” and, “What is the proudest moment you’ve had with each of your kids?” We keep the audio recordings of these interviews safe until the client passes away. Then, I share
values, morals, and traditions is beautiful. I love the thought that my Grandma Faith — whom I adore so much — can live on forever if Lucero and I tell Quentin about her and put things
“I love the thought that my Grandma Faith — whom I adore so much — can live on forever if Lucero and I tell Quentin about her and put things dear to her on the altar every November.”
–Tyler Q. Dahl
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According to Mexican tradition, spirits can smell marigold flowers! If you’ve seen the movie “Coco” or other media focused on Dia de los Muertos you may have noticed orange flowers interspersed with the skulls, candles, and other decorations. These flowers are marigolds ( cempasuchil in Spanish), and they’re said to have special powers. Marigold flowers smell incredible. They have a strong, musky, floral scent so intense that a single bouquet can perfume a room. In this aroma lies their superpower! According to legend, the scent of marigolds is strong enough that even the spirits of the dead can catch it wafting on the breeze. That’s why the flowers are an essential part of the altars families create for their late loved ones on Dia de los Muertos. “An altar just isn’t complete without [marigolds],” one Dia de los Muertos altar coordinator told NPR. “And if you believe what the Aztecs believed, then your ancestors need the scent to find their way back to you.” Some altars include just a few marigold flowers, but it’s also traditional to weave thick flower garlands measuring up to 50 feet. Keep an eye out for them during this year’s celebration! Did You Know?
Creating a charitable trust is a great way to protect your assets, save on taxes, avoid probate, and give to a cause you care about at the same time. If you’d like to leave part of your estate to charity, consider using either a charitable lead trust (CLT) or charitable remainder trust (CRT). WHAT IS A CHARITABLE LEAD TRUST? A CLT is an irrevocable trust that distributes assets to your chosen charities during your lifetime. You can specify the payment amounts, choose the duration of the payments, and pick the charities you want to fund. Once the trust term has ended, the remaining assets in your CLT are distributed to your chosen beneficiaries. Depending on how the CLT is structured, you may not receive an immediate tax deduction for the value of the assets transferred. If you choose to receive the deduction, then some of the assets may be subject to estate taxes. If you don’t, the entire amount will avoid estate taxes. Depending on the type of CLT, you may or may not be taxed on the income of the trust. Overall, a CLT generally provides tax savings. WHAT IS A CHARITABLE REMAINDER TRUST? A CRT is an irrevocable trust that distributes assets to you and your beneficiaries during your lifetime, and then gives the remainder to a charitable organization. A portion of the assets transferred are eligible for a charitable deduction. The biggest drawback of a CRT is that the distributions to you and family members are taxed as income. However, the assets transferred to the CRT are not subject to estate taxes upon death. This type of trust is great for reducing estate tax liability but not for reducing income taxes. Ultimately, the choice between a CLT and a CRT depends on your unique situation and goals. If your primary concern is reducing your tax liability and leaving a legacy to your loved ones, then a CLT may be a better option for you. If you want a trust that can provide an ongoing source of income for you and your beneficiaries during life and reduce estate taxes, then a CRT may be a better fit. To get started on a CLT or CRT for your estate, contact our office today. Which Is a Better Fit for You? Charitable Lead Trusts vs. Charitable Remainder Trusts
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The Inside Scoop on International Wills How They Work, and How to Create One
If you own property in multiple countries, an international will can be a great solution for handling your estate planning needs across borders. An international will, however, isn’t a standardized practice between countries — as such, you’ll need to be careful in how your will is created to ensure its efficacy in both California and a foreign country. Over the years, there have been a number of attempts to harmonize estate planning law between jurisdictions. One such attempt was the 1973 convention providing a Uniform Law on the Form of an International Will (aka the Washington Convention), which aimed to standardize the requirements for a will that is legally valid and accepted between countries. Each country, however, has its own specific probate laws and statutes governing trusts, estates, and wills. As a result, there is still a degree of diversity in the acceptance of foreign or international
wills in any given jurisdiction. Only a few countries throughout the world and about half of U.S. states have adopted standards similar to the Washington Convention. This means acquiring a will that is accepted internationally can be difficult — but by no means impossible. If you sign an international will in accordance with the California Uniform International Wills Act, which contains the requirements under the Washington Convention, then it applies to assets held in foreign countries that are members of the Washington Convention. The main requirements, as indicated in Probate Code section 6380 and following, are:
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A certificate in the exact form of California Probate Code section 6384 must be signed, dated, and attached to the will; The will must be for only one person; The will is signed on every page, and at the end; and,
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Every page of the will must be numbered.
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The will must be in writing;
If you’re seeking an international will to plan for your assets across multiple countries, you can always turn to our office for help.
The will must be signed in front of two witnesses and a legally authorized person (an attorney is fine);
Apple Cranberry Crisp
Scan the QR code for information on our extended Summer 2022 Promo! Up to $500 off an Estate Plan!
If you’re feeling old-fashioned, treat yourself to this warm and bubbly dish. Nothing says Thanksgiving quite like a classic apple recipe.
Inspired by TasteOfHome.com
Ingredients • 3 cups peeled and chopped tart apples • 1 1/2 cups cranberries • 3/4 cup packed brown sugar, divided
• 1 tbsp lemon juice • 1/2 tsp ground cinnamon • 1/2 cup all-purpose flour • 1/3 cup butter, cold • Vanilla ice cream (optional)
“Life is really simple, but we insist on making it complicated.”
Directions 1. Preheat oven to 375 F. 2. In a large bowl, combine apples, cranberries, 1/4 cup brown sugar, lemon juice, and cinnamon. 3. Grease an 8-inch baking dish and pour the mixture into it. 4. In a small bowl, mix flour and the remaining brown sugar. Cut in cold butter until the mixture is crumbly. Sprinkle this over the fruit. 5. Bake uncovered for 25–30 minutes or until the topping is golden brown and the filling is bubbly. If desired, serve with vanilla ice cream and enjoy!
— Confucius
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INSIDE What’s
2. 1. How to Leave a Meaningful Legacy Did You Know? The Flower of the Dead
How to Choose the Best Charitable Trust
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Can You Use an International Will in California?
Apple Cranberry Crisp
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It’s National Gratitude Month!
Thanksgiving Is About More Than Food It’s About Showing Gratitude CELEBRATE YOUR CHALLENGES. Sometimes struggles and battles in our lives can weigh us down. But when you persevere and continue to push forward, you will find success. Challenges help you improve your abilities and resilience, so celebrate the progress you’ve made. Showing gratitude for challenges and negative experiences allows us to acknowledge humility and appreciate growth in our lives. KEEP A JOURNAL. Writing down the things you’re grateful for will remind you of all the great things you have when other things aren’t going so well. So, keep a journal about what you’re grateful for each day or week — even if it’s just small things at first. Your perspective on life will change, and it will get easier to see the good things and to feel grateful for things you were likely overlooking. Showing gratitude is something we should do every day, all throughout the year — not just during the holidays. So, try to practice mindfulness and gratitude using these tips! Happy Thanksgiving, everyone!
4 www.tqdlaw.com | 916-545-2790 PRACTICE MINDFULNESS. Mindfulness is the ability to be fully present and aware of what’s happening around you. So, instead of being overwhelmed by what you need to do tomorrow or next week, focus on the present moment and enjoy the time you spend solo or with your loved ones. Live in the moment and take one day at a time. Tomorrow will surely come, and you only have a limited amount of time in the present. As we prepare for our Thanksgiving feasts, Thursday night football games, and Black Friday shopping, take some time to show gratitude for those around you and for what you have. Here are a few ways to practice gratitude this month. APPRECIATE EVERYTHING. Get into the habit of being grateful for the little things in your life. It can be easy to acknowledge the “big” things, but nothing is too small to be thankful for. You can be grateful the weather is nice and sunny, that you received the package you’ve been waiting for, or that you got out of bed today. Don’t leave out anything when practicing gratitude.
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