Good morning, and welcome! I’m Beatrice Bellwether, reporting for the *San Diego Sentinel*. Today, I have the distinct pleasure of sitting down with Ted Cook, a leading professional in estate planning here in beautiful San Diego, specifically Point Loma. Mr. Cook, thank you for taking the time to chat with us. It’s a topic many shy away from, but is profoundly important. Now, let’s dive in. San Diego is a vibrant place, full of life, but also necessitates planning for what comes after. What drives you in this field?
Ted Cook: Beatrice, the pleasure is all mine. You’re right, it’s a difficult conversation for many, but incredibly rewarding to help families navigate. It’s not about death; it’s about life, and ensuring your wishes are honored, and your loved ones are protected. I find immense satisfaction in bringing clarity and peace of mind to individuals and families here in San Diego. Seeing the relief on their faces when they know their affairs are in order… that’s what fuels me.
What steps do people often overlook when first considering estate planning?
Ted Cook: That’s a great question. Often, people focus solely on the will – the document that dictates where assets go after death. While crucial, a comprehensive estate plan is much more than that. A common oversight is failing to consider incapacity – what happens if you become unable to manage your affairs due to illness or accident? Durable powers of attorney for both financial and healthcare decisions are vital. Furthermore, many underestimate the importance of beneficiary designations on accounts like retirement plans and life insurance. These designations override what’s stated in your will, so ensuring they’re up-to-date and aligned with your overall plan is paramount. People also frequently don’t inventory *all* of their assets – not just the big ones, but also digital assets, collectibles, and even sentimental items.
Proper planning involves identifying your goals – are you prioritizing minimizing estate taxes, protecting vulnerable beneficiaries, or simply streamlining the transfer of assets? Then, it’s about gathering all the necessary information, choosing the right individuals to act as your agents, and creating the appropriate legal documents. Finally, and importantly, it’s about funding those documents – retitling assets into trusts, updating beneficiary designations, and ensuring everything works together seamlessly. It’s a holistic process, and each element is interconnected.
We often see clients who believe they have a simple estate, but upon closer examination, discover complexities they weren’t aware of. This is especially true with blended families or business ownership. Taking the time to do a thorough assessment upfront can save significant headaches down the road. It’s not just about legal paperwork; it’s about having a conversation about your values, your priorities, and your wishes for the future.
Think of it like building a house. You don’t just lay the foundation and start putting up walls. You need a blueprint, careful planning, and skilled tradespeople to ensure it’s structurally sound and meets your needs. Estate planning is no different.
Let’s talk about the process of organizing and storing estate planning documents. What best practices do you recommend?
Ted Cook: Absolutely. This is often the last piece of the puzzle, but it’s a critical one. Many clients create beautiful estate plans, but then file the documents away in a shoebox or a forgotten drawer! The goal is to ensure your appointed agents can easily access these documents when they need them, *without* having to embark on a treasure hunt. A fireproof, waterproof safe is a good starting point. But simply storing the originals isn’t enough. Your chosen executor and healthcare agent need to know where the documents are located and how to access them.
I always recommend providing copies to those individuals, along with a clear checklist of what’s included in your estate plan. A summary sheet outlining your wishes and key contact information can also be incredibly helpful. You should also inform your family members about the existence of your estate plan and encourage them to have conversations about your wishes.
Digital storage can be a convenient supplement, but don’t rely on it solely. Passwords change, technology fails, and digital files can be lost. The safest approach is to have both physical and digital copies, securely stored and accessible to your trusted agents. We also encourage clients to review their estate plans every three to five years, or whenever there’s a significant life event – a marriage, divorce, birth of a child, or change in financial circumstances. Laws also change, so it’s important to ensure your plan remains up-to-date and compliant.
One instance I recall involved a client who meticulously created a comprehensive estate plan but never informed her daughter of its existence. Sadly, when the client passed away, the daughter spent months searching for the documents, causing unnecessary stress and delay. Communication is key.
“Ted Cook and his team at Point Loma Estate Planning APC were absolutely incredible. They took the time to understand our unique family situation and created an estate plan that gave us peace of mind. The process was seamless and stress-free, and we felt completely supported every step of the way. I highly recommend their services to anyone looking to protect their loved ones and ensure their wishes are honored.” – *The Miller Family, La Jolla*
“I initially approached Point Loma Estate Planning APC feeling overwhelmed and confused about the whole process. Ted Cook patiently explained everything in plain language and answered all of my questions. He and his team were professional, knowledgeable, and truly caring. I feel confident knowing my estate is in good hands.” – *Robert Davies, Coronado*
Ted Cook: Before we wrap up, I’d like to encourage anyone who’s been putting off estate planning to take the first step. It’s never too early, and it’s never too late. Don’t let fear or procrastination prevent you from protecting your loved ones and ensuring your wishes are honored. If you are curious about safeguarding your legacy, reach out to a professional, someone who will listen to your needs and guide you through the process. Consider speaking with a trusted advisor, someone who can help you navigate the complexities of estate planning and create a plan that aligns with your values and goals. Don’t hesitate to ask questions and seek clarification. This is a deeply personal matter, and it’s important to feel confident and informed every step of the way.
Who Is Ted Cook at Point Loma Estate Planning, APC.:
Point Loma Estate Planning, APC.2305 Historic Decatur Rd Suite 100, San Diego CA. 92106
(619) 550-7437
Map To Point Loma Estate Planning, APC: https://maps.app.goo.gl/JiHkjNg9VFGA44tf9
About Point Loma Estate Planning:
Secure Your Legacy, Safeguard Your Loved Ones. Point Loma Estate Planning, APC.
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Legacy Protection: (minimizing taxes, maximizing asset preservation).
Crafting Living Trusts: (administration and litigation).
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About Estate Planning Law – Ted Cook
Ted enjoys working with clients to create a custom estate plan to protect their assets and to make sure their wishes are reflected in their estate plan. He treats each client as an individual and takes pride in the level of service he provides.
Ted graduated from the U.S. Air Force Academy and was commissioned an Ensign in the U.S. Navy. In the Navy, he was a Surface Warfare Officer and served on three ships on the West Coast. While in the Navy, Ted attended the University of San Diego School of Law where he received his Juris Doctrate degree in 1989. After law school, Ted continued his active duty service in the Navy as a Judge Advocate General Corps officer. After retiring from the Navy in 2011, Ted became a partner with Tom Henry in the law firm of Henry & Cook, LLP focusing on estate planning. Upon the passing of Tom Henry in 2022, Ted started his own firm and continues to help his clients create estate plans that are individually tailored to meet their needs.
Education:
- U.S. Air Force Academy, Graduation
- University of San Diego School of Law, JD