Tax, Estate Planning Attorney Hinton Featured in Minors as Beneficiaries Podcast

March 11, 2020

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Taylor Porter tax and estate planning attorney Rebecca Hinton was featured in a podcast by Simplifynance – “Minors as Beneficiaries”. During this podcast by the Baton Rouge-based advisory services and financial planning firm, Simplifynance financial advisor Rachel Stewart talks with Hinton about the various considerations when naming minor children as beneficiaries on retirement accounts and life insurance policies.

‍Episode Highlights:

  • It’s common to wonder if naming minors as beneficiaries is a good decision.
  • Introduction of special guest, Rebecca Hinton, and description of her specialty in estate and tax planning.
  • Having young children is often a driver of important discussions like such as will prep, potential guardians and life insurance
  • Biggest importance is protecting the minor...from themselves and others.
  • Deciding on WHO will handle the money before age of majority
  • What do to TODAY if we need a placeholder before formal estate plan is in place
  • A will would include language that lays our rules for use of funds on behalf of the child(ren)
  • Is document setup a long and hard process?
  • Are laws different in Louisiana vs other states?

‍Key Points:

  • Work with an estate attorney and your financial advisor to find a custom solution that fits you and your family.
  • In Louisiana, we have forced heirship – children are entitled to a certain percentage of assets when a parent passes away, if under age 24.
  • Although the process is intimidating (and not fun), so many problems can be avoided with proper planning ahead of time.

Hinton represents individuals and businesses in the areas of federal, state and  local taxation; tax controversies; estate planning; business matters; successions; and trusts. Hinton is ranked by her peers among Best Lawyers® in tax law, and is rated Martindale-Hubbell AV-Preeminent. Hinton is an adjunct professor at Louisiana State University Paul M. Hebert Law Center, and frequently presents at CLE and other seminars on the topics of federal estate and gift taxation, estate planning, and federal taxation. She serves as vice president of the Estate & Business Planning Council of Baton Rouge. In the community, Hinton is a board member of the nonprofit SportsBR, dedicated to uniting sports and the Baton Rouge community.

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