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THE VALLEY BUSINESS JOURNAL 10 www.TheValleyBusinessJournal.com October 2022 What Happens If You Die Without a Will? A will is an excellent tool to make a plan for your assets and heirs after you die. Everyone needs to have an estate plan, but most people do not make a plan until they approach the golden years in life. Unfortunately, oftentimes people pass away unexpectedly, never having made arrangements for a will. Here’s what happens when that occurs. What Happens After You Die and There Is No Will? Each state has an intestacy law that instructs how your money and assets are distributed if you were to pass away without a will. Through a process called probate, the government decides who gets what. Most of the time, the assets are distributed to family members. Non-family loved ones or stepchildren are not on the list of distribution. If you want your assets to be split among specific people that may not fall in line with what the state would do, you’ll need to draw up a will. For example, if you pass away and have a surviving spouse with adult children, the money will be divided evenly among all of those family members. However, if you die single with no children, the beneficiaries start to include parents, siblings, and other relatives. Many single people without children have friends who become family throughout the years, including the people you spend the holidays with and raise kids together. These people will have no right to your estate if you do not specify so in the will. If you die in a domestic partnership, it depends on the state if your partner is recognized as a beneficiary. For those states that recognize domestic partnerships, the assets will be distributed the same as with a surviving spouse. Some Assets Have Named Beneficiaries You may think you are covered if you have named beneficiaries of some funds. For example, a life insurance policy will ask you to name a beneficiary, and you can ensure that your domestic partner is specified. Similarly, retirement funds will ask that you choose the beneficiary. Keep in mind that not all assets are covered, even if you have chosen a beneficiary for some sources of money. Creating a will is the most secure path toward passing down your assets to the people that you love the most. It’s time to get your estate plan together. Shoup Legal is here to help. Give us a call at (951) 455-4114 or email us at info@shouplegal.com to learn more about how we can help you plan today for peace of mind tomorrow. “ Unfortunately, oftentimes people pass away unexpectedly, never having made arrangements for a will. SHOUPLEGAL.COM LEGAL by by Andrea Steve Fillingim Shoup
October 2022 THE VALLEY BUSINESS JOURNAL www.TheValleyBusinessJournal.com Professional Women Toastmasters Wins Publicity Award 11 Join their OPEN HOUSE on October 10, 2022 to experience this award winning club Event is free to the Public Professional Women Toastmasters (www.professionalwomen.toastmastersclubs.org, invites residents to its open house to meet members and learn about the importance of communication and leadership skills for today’s professional. Members and guests will enjoy a regular Toastmasters meeting that will include prepared speeches, Table Topics (impromptu speeches) and evaluations (the gift of feedback). Professional Women Toastmasters was awarded the Chuck Weck Publicity Award three years in a row by Toastmasters District 12. This is due to the efforts of our Vice President Public Relations, Mona Payan. “Toastmasters has given me the opportunity to step outside my comfort zone and grow into new environments. Impromptu speaking has allowed me to be intentional with every conversation and interaction. Giving me new meaning to thinking on your feet, “says Mona Payan, Vice President Public Relations. On September 8, 2022, one of our members, Mary O’Dwyer, had the opportunity to be a speaker at the Women in Business Conference hosted annually by the Temecula Valley Chamber of Commerce. “My experience with Professional Women Toastmasters has allowed me to clearly and concisely articulate my message. It has also brought awareness to distracting hand gestures, body movements and unnecessary words such as um, ah, so, you know, allowing me to eliminate these, maximizing my audience engagement. As a professional speaker I highly recommend Professional Women Toastmasters to anyone wanting to develop and fine tune their communication skills,” says Mary O’Dwyer, Founder of The Breath Of New Life and Professional Speaker. “Professional Women Toastmasters provides a supportive and positive environment where members have the opportunity to develop their communication and leadership skills. This is where we come to practice and get feedback to help us get ready for the real world. The skills I learned in Toastmasters helped me to gain the confidence to be able to co-emcee the Temecula Valley Chamber of Commerce, Women In Business Conference, on September 8, 2022, addressing over 450 attendees,” says Esther Phahla, Founder of Professional Women Toastmasters. Join us October 10, 2022, for our OPEN HOUSE. The Professional Women Toastmasters Club meets each Monday at 12:30 pm to 1:30pm at the Temecula Valley Chamber of Commerce, 26790 Ynez Ct, Temecula, CA or via Zoom. For more information about this event and the club, please email Monique Payan at vppr-5077319@toastmastersclubs.org or visit www.professionalwomen.toastmastersclubs.org. About District 12 District 12 serves approximately 100 Clubs and 1700 members in the large Southern California region East of highway 57, South of Barstow, West of the Arizona border, and North of Temecula. District 12 includes two of California’s largest counties (by square miles) – Riverside and San Bernardino. To learn more about District 12, please visit http://www.d12toastmasters.org. About Toastmasters International Toastmasters International is a worldwide nonprofit educational organization that empowers individuals to become more effective communicators and leaders. Headquartered in Englewood, CO., the organization’s membership exceeds 352,000 in more than 16,400 clubs in 141 countries. Since 1924, Toastmasters International has helped people from diverse backgrounds become more confident speakers, communicators and leaders. For information about local Toastmasters clubs, please visit www.toastmasters.org. Follow @ Toastmasters on Twitter. FINANCIAL Esther Phahla, CPA, CTS, MST
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