FOR IMMEDIATE RELEASE
Washington, DC – October 4, 2022: In celebration of National Hispanic Heritage Month, The American College of Trust and Estate Counsel (ACTEC) released the video Consejos Basicos en Planificacion Paternal to provide recommendations for Latinos as to why it is critical to develop estate planning documents such as a will and power of attorney, to protect, preserve, and distribute assets at death or during incapacity. This video is the first ACTEC has shared in Spanish with English subtitles. National Estate Planning Awareness Week begins October 17, and serves as a reminder to all Americans the importance of estate planning.
The video is part of the College’s informational series Planning for a Diverse and Equitable Future, a project of ACTEC’s Diversity, Equity and Inclusivity Committee, funded by The ACTEC Foundation.
ACTEC Fellow Karin C. Prangley and guest Carlos M. Alarcon, a Wealth Strategies Executive at Bank of America, share critical information regarding essential estate planning documents and information for Latinos.
During the interview, Alarcon noted that many states have laws in place that prohibit spouses from being disinherited.
"They (spouses) can elect to receive a percentage of the assets depending on state law, even if the will intends to leave them nothing, they may choose to receive a percentage of assets," Alarcon added.
Prangley also provided advice during the interview. "Make a list of your assets and debts, it will help the attorney."
For further information about ACTEC’s Planning for a Diverse and Equitable Future series, please visit actec.org/diversity.
About The American College of Trust and Estate Counsel (ACTEC): Established in 1949, The American College of Trust and Estate Counsel (ACTEC) is a national, nonprofit association of approximately 2,500 lawyers and law professors from throughout the United States and abroad. ACTEC members (Fellows) are peer-elected on the basis of professional reputation and expertise in the preparation of wills and trusts, estate planning, probate, trust administration and related practice areas. The College’s mission includes the improvement and reform of probate, trust and tax laws and procedures and professional practice standards. ACTEC frequently offers technical comments with regard to legislation and regulations but does not take positions on matters of policy or political objectives.
About The ACTEC Foundation: The ACTEC Foundation is the philanthropic arm of The American College of Trust and Estate Counsel or ACTEC. The Foundation is a nonprofit, 501(c)(3) that offers education to families and professionals and supports students interested in the trust and estate area of the law. Through continued financial support, The ACTEC Foundation offers professional development, scholarships and education for a number of important efforts, including legal education, educational support, public initiatives, legal publications and the student editorial board.
To add this video to your website, visit https://www.actec.org/share/#diversity.
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