Estate planning

April 15, 2011
Why Most People Need an Estate Plan…
Source: Smart Money

Summary from Eclectic’s Scott Rojas:
We are often asked if our clients should have a will/trust. A simple answer is yes. A trust is much more flexible that probate and allows the client more privacy and flexibility. While a trust is more expensive to setup, long term a trust is generally more cost effective than allowing your assets to transfer via probate.

CHICAGO (MarketWatch) — We all may not be millionaires but there are plenty of financial and life-planning secrets we can learn from the well-heeled.

Most people know that wealth in the U.S. is in the hands of a small percentage of the total population. And, today, most of those folks with a net worth of $1 million or more have earned it themselves.

Thanks to the $5 million federal estate tax exemption for those who die in 2011 or 2012, most folks are not exposed to the federal estate tax right now. However, if you have some assets (maybe just a car and some nice furniture) or minor children, you still need an estate plan–even if taxes are not an issue. Here’s the scoop.
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Our People

Carl J. Camp, CFP
CFP President
Carl joined Eclectic Associates, Inc. in 1985 and helped build the business along with his father, W. B. (Bill) Camp. Bill Camp had just started the firm a year earlier in 1984. Carl has been listed as one of the top financial planners in the country by MUTUAL FUND MAGAZINE, WORTH MAGAZINE and MEDICAL ECONOMICS...
Carl Lachman, CFP
Financial Planner
Carl is a Certified Financial Planner and joined Eclectic Associates in 2003. He has a bachelor's degree in economics with a minor in mathematics from Occidental College, and an MBA with an emphasis in finance from the UCLA Anderson School of Management. Carl also earned a Masters...
Scott Rojas, CFP
Financial Planner
Scott joined Eclectic Associates in August 2004. He has a bachelor's degree in business administration from Biola University (1993) and an MBA from Cal Poly Pomona (2004). Scott earned the Certified Financial Planning (CFP) designation in 2008. His previous work experience...
Russell W. Hall, CFP
Financial Planner
Russell joined Eclectic Associates, Inc. in 2001. He is a Certified Financial Planner, and has a Personal Financial Planner designation from the University of California, Irvine and a bachelors degree in communications from Biola University. Prior to earning his CFP designation in...
David K. MacLeod, CFP
Financial Planner
David joined Eclectic Associates, Inc. in 2006. He is a Certified Financial Planner and has a Personal Financial Planner designation from the University of California, Irvine. David is also a graduate of Biola University where he received a bachelor's degree....
Masako Sumita
Financial Paraplanner
Masako joined Eclectic Associates, Inc. in April of 1992. She is a Registered Paraplanner and has a bachelor's degree in business administration from California State University of Fullerton...
Travis McShane
Paraplanner
Travis joined Eclectic Associates, Inc. in September of 2010. Travis graduated Magna Cum Laude from California State University, Fullerton with a Bachelor's degree in Finance, in May 2010. Prior to joining Eclectic, he held positions coaching basketball at La Habra High School as well...