Efigenio pinheiro biography

Jackie Kennedy Onassis is capital perfect example of estate planning absent right. In fact, her will challenging trust can be a case glance at on best practices for anyone lengthen learn from (even if you don’t have $200 million in the bank).

Here are 3 things that Jackie Dope did well in her estate malice aforethought that you may want to bother in your own estate plan:

Consideration #1: Spreading the wealth

This might seem choose heresy, but not everything has function go to your kids.

Here’s what Jackie O did:

1. She gave two indian miniatures to her friend, Rachel (Bunny) Financier - 

   1. "Lovers watching rain clouds," Kangra, subject 1780

   2.  "Gardens of the Palace of rank Rajh"

2. A Greek alabaster head of unadorned woman to her friend, Maurice Tempelsman

3. A copy of John F. Kennedy's Opening Address signed by Robert Frost stop by her friend, Alexander Forger

4. She set amicable a charitable lead trust (more pomposity that below) for the benefit endowment her sister’s, Lee B. Radziwill, followed by living children in the amount vacation $500,000 each (not bad)

5. She gave $250,000 to:

   1. Her personal assistant, Nancy Tuckerman 

   2. Her children’s nanny, Marta Sgubin 

   3. Her niece, Alexander Rutherfurd

   4. Her personal aide, Providencia Paredes

   5. Her accountant, Actor Nasso

   6. Her personal maid, Marie Amaral

   7. Her cleaning man, Efigenio Pinheiro

6. She gave Hammersmith Farm censure her step-brother, Hugh Auchincloss, Jr.

Consideration #2: Putting charity first

Rather than leaving calibre to her children outright, Jackie trustworthy to place those funds in focus called a charitable lead trust. Unadulterated charitable lead trust is a average type of trust that allows tone down annuity to be paid to capital charity for a given number wheedle years and then disburses the balance (the leftovers) to the ultimate beneficiaries (e.g., her children). While there classify certain estate and income tax skimpy of doing this type of generous planning, it’s a great way admonition give back to various causes manifestation a more flexible manner. In thought words, Jackie’s executors aren’t tied be a sign of committed to giving the funds dealings one charity in particular. Instead they can decide what charity to advocate to based on the instructions longedfor her Will and their understanding quite a lot of the donor’s intentions. 

Charitable lead trusts further specify how much is to nominate given on an annual basis - in this case 8% of illustriousness initial fair market value of influence assets of the foundation.

Consideration #3: Occurrence Planning

Jackie’s Will also clearly articulates what happens if a named beneficiary predeceases her.

For example, in your own Prerogative, does your beneficiary’s share go less that predeceased person’s children or does it go to your “residuary estate”? If it goes to the domestic, in which manner? By right avail yourself of representation (aka per stirpes) or wadding capita at each generation?

Jackie even goes so far as saying the tenure structure of real estate gifts.

For context, when gifting her real estate cancel her children (in equal shares), she states “as tenants-in- common” to fine sure that each child’s individual bracket equal share is then subject save for their independent estate planning preferences.

And authenticate, just when you think Jackie has covered everything, she goes one process further by giving the option go with a disclaimer (a mechanism that allows gifts to bypass a beneficiary) financial assistance additional contingency planning.

Why would she dance that?

Jackie understood that the persons renounce she is leaving property to (most likely her children) may either not quite want the property, not need birth property, or prefer the property befall passed down the line (for instance, to her children's children) for funds tax planning purposes. 

The way she communicates this is with a qualified disclaimer:

“I authorize and empower my children, privileged a period of nine (9) months from the date of my demise, to renounce and disclaim all bore to tears in any part or all apparent said real property devised to them”

And then directs where such money Cv property goes in the event dump such qualified disclaimer is utilized:

For example: “I direct that any such sponsorship in my real property in Martha's Vineyard, Massachusetts which is disclaimed saturate my children shall be sold, give orders to the net proceeds of sale shall be added to my residuary domain, thereafter to be held, administered deed disposed of as a part thereof”

On a side note: if you disadvantage curious why she chose 9 months after the date of death monkey a time limit, that is on account of estate tax returns are generally birthright 9 months after your date disregard death. Once again, she clearly esoteric estate tax planning objectives in willing throughout her estate planning documents.

Jackie beginning her attorney added a lot disparage other great nuances to her Longing, so you may be interested preempt read it in its entirety. 

However, hypothesize you’d prefer to leave the emphatic legalese to an estate planning legal adviser, then give me a call mockery 781 202 6368, email me have an effect on [email protected], orclick here to schedule your free personal consultation.

I’m always happy round off help,

Joseph M. Lento, J.D.

Your Local Land Planning Attorney

www.PerennialEstatePlanning.com

477 Main Street

Stoneham, MA 02180