Don't overlook estate planning: Tamiel Holloway, Attorney

When most people start family planning, they consider buying homes, picking the right schools and choosing a health insurance plan. An important but often overlooked consideration is estate planning. An estate plan typically involves a will, trust and power of attorney.

If you are unsure of where to start, make a simple will. A will can help you dispose of your assets as well as appoint caregivers for your children. Be sure to include who you would like to become guardians of your children. You don’t need to settle on one person or couple. Some people are great with money but not very kid-friendly while some people are the entire package. You can appoint one person responsible for the “person” or physical custody of your child and another to be responsible for your child’s financial needs or “estate.”

A sponsored post by Tamiel Holloway

A trust is a more sophisticated way of dealing with assets that would go into a will. A trust can be for an individual or both spouses. They can also be changed or revoked anytime during your lifetime. Trusts usually become irrevocable at death. Under a trust your property transfers to your chosen beneficiaries. A fully funded trust enables you to dispose of your assets and provide for the well being of your children and other beneficiaries by avoiding the expense and time of the probate courts. There are many types of specialized trusts, and an attorney can help you find the one that best fits your circumstances. For example, if you have a child who is disabled, you might consider setting up a special needs trust.

A power of attorney is also a useful tool that can make life easier for those who will take care of you in your later years. A power of attorney allows another person to make medical, financial and social decisions for you in the event you lose your ability to do so yourself. Having one in place can help you avoid having to seek a conservatorship in the probate or mental health court, and can make the transition more efficient for your caretakers. Thinking about how you want to care for your children or distribute your assets in the event of your death is something most people wait too long to consider. Starting on these tasks earlier in life ensures your wishes are met and that your children are not overburdened at an inevitably stressful time.

Finally, remember to keep the documents in your estate plan updated. Try and update your plan every three years at the minimum because your family, assets, laws and goals may change.

My name is Attorney Tamiel Holloway. I am licensed to practice law in California, Massachusetts and New Mexico.

For more information regarding Wills and Trust, please contact me at:

Call 213-272-1000



This  article is based on the opinion of one practitioner. It is recommended you seek the advice of an attorney as you begin your estate plan.

A sponsored post by Tamiel Holloway

Views: 304


You need to be a member of Leimert Park Beat to add comments!

Join Leimert Park Beat

Leimert Park Beat is the news and social network for Leimert Park and the surrounding neighborhoods. Stay informed. Join now!


• Got news you think everyone should know? Blog it.

• Have a show or attending a benefit? Put it on the calendar.
• Video of the big game? Embed it.
• Photos of your business or the school play? Upload them.


With your help, raised money to hire reporters, graphic artists and community members to cover our area.
Read the stories - Urban Economy 411, Redevelopment Hell and One of these don't belong.

Latest Activity

DojO- posted events
17 minutes ago
DojO- posted a status
""It'z gon'na b ok... A'ight?!" - O-!"
8 hours ago
DojO- commented on DojO-'s event RISE on KPFK 90.7 FM w/ /\/\ark /\/\axwell - Mondayz 12AM to 3AM
" RISE on KPFK Respect to Randall Roberts for this reminder (+ extra credit for the Bennie Maupin mention). - /\/\/\/\, Facebook Timeline/wall The lost art of deep listening: Choose an album. Lose the phone. Close your eyes. - Randall…"
10 hours ago
Profile IconLatest Events - University Park Family
10 hours ago
DojO- commented on DojO-'s blog post CNN TV: Schedule / Wkdaze - Apr., Mon. 6th thru Fri. 10th; NEWs + Wolf BLITZER / Anderson COOPER / Chris CUOMO / Don LEMON - *updatez* ~
""Remember?" Joe Biden says he informed Bernie Sanders he will begin the VP vetting process - Sarah Mucha & Veronica Stracqualursi, CNN"
DojO- posted a blog post

CNN TV: Schedule / Wkdaze - Apr., Mon. 6th thru Fri. 10th; NEWs + Wolf BLITZER / Anderson COOPER / Chris CUOMO / Don LEMON - *updatez* ~

  Regular wkly programin' will more than likely change w/o a moments notice. ✔ *updatez* (& check local listings) -  O-!.CNN Newsroom Live…See More
DojO- commented on DojO-'s blog post CNN TV: Schedule / Wkdaze - Apr., Th. 2nd & Fri. 3rd; NEWs + Pandemic: World Wide Coverage / "live" Global Town Hall Coronavirus Facts & Fears / Wolf BLITZER / Anderson COOPER / Chris CUOMO
"CNN's Brooke Baldwin tests positive for coronavirus - Oliver Darcy, CNN Business"
DojO- commented on DojO-'s event "BreakN'ews" Andrew Yang 2020 "Fun-raisinz" - YanGang, YangO'crats
"Yang says Asian Americans being attacked over coronavirus is 'a heartbreaking phenomenon' Kate Sullivan byline - Kate Sullivan, CNN         Lisa Ling       /   Andrew Yang ..."

© 2020   Created by enhager.   Powered by

Badges  |  Report an Issue  |  Terms of Service