Page 18 - The Jewish Voice - August '24

Page 18, The Jewish Voice

LiFestyLes

Here’s something else to think about: Instead of
TGH Foundation Fund Helps Financial Focus choosing an individual, you could name a corporate
East Coast Patients Access Whom Should You Choose As a Trustee? trustee. By doing so, you can receive some key benefits,
such as objectivity and potentially avoiding some of the
Cutting-Edge Care When drawing up your family-related disputes that can arise when an estate is
estate plans, you might find settled. Also, corporate trustees have the expertise and
Since 2020, Tampa General Hospital (TGH) has been it useful to create a revocable resources to navigate the various tax and inheritance laws
creating a framework of state-of-the-art services connecting or irrevocable trust, either of affecting living trusts.
patients in Palm Beach and Martin counties with the which can help your estate Whether it’s a trusted individual or a corporate entity, the
expertise and innovation of a preeminent academic health avoid probate court and give right trustee can make a big difference in the effectiveness
system. For patients on Florida’s East Coast needing a you significant control over of your living trust — and, by extension, the outcome of
higher level of care, this has been great news. With a clear how and when your assets your comprehensive estate plans. So, start your search, get
path to TGH, patients no longer have to leave the state when are distributed. But who the help you need, and take the steps necessary to arrive at
they need complex care or procedures. should oversee your trust? a choice for trustee that’s right for you and your family.
As the person who This article was written by Edward Jones for use by
established the trust — known your local Edward Jones Financial Advisor, Edward Jones,
as the grantor or settlor — you can also name yourself as Member SIPC.
trustee. However, this may not be the best move, particularly Edward Jones is a licensed insurance producer in
if the trust is irrevocable. An irrevocable trust protects the all states and Washington, D.C., through Edward D.
assets in the trust from creditors and civil judgments, but if Jones & Co., L.P., and in California, New Mexico and
you serve as trustee this protection will disappear. It might Massachusetts through Edward Jones Insurance Agency
be more advantageous for you to be the trustee of a revocable of California, L.L.C.; Edward Jones Insurance Agency of
(living) trust, which can be modified without much trouble New Mexico, L.L.C.; and Edward Jones Insurance Agency
and allows you to move assets in and out of the trust and to of Massachusetts, L.L.C.
change trust beneficiaries. You should work with a qualified Edward Jones, its employees and financial advisors
estate-planning attorney to determine which type of trust, cannot provide tax advice. You should consult your
if any, is appropriate for your situation, and to get some qualified tax advisor regarding your situation.
guidance on the wisdom of serving as your own trustee. Contact us at (561) 748-7600, Sally Sima Stahl, CFP ,
®
To further help patients access complex care, the If you decide to choose someone else as trustee, you’ll AAMS , 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
™
nonprofit hospital’s TGH Foundation recently initiated a want to consider the following factors:
special fund for those demonstrating a need for financial • Trust: In thinking about whom you might want to serve Five Expert Tips to Support
assistance with travel costs to Tampa. The Patient Support as your trustee, the most important attribute is trust. Do
Fund will cover expenses like transportation, gas, and you trust that this individual will always act in your best Athlete Success this Summer
hotel accommodations. interest? If so, then they may be a good trustee candidate,
“Money raised will help remove possible financial but you’ll also need to look at other considerations. If you have a family of athletes, you know how hectic
barriers for East Coast patients so they can easily travel • Financial management skills: The person you choose the sports schedule can be. As you prepare for another busy
to Tampa to receive the care they need, when they need to be your trustee doesn’t have to be an accountant or season, focus on feeding your athletes right to optimize
it,” said Frann Leppla, senior vice president and chief a financial professional — but they should be skilled at their sports performance and fuel their fun.
philanthropy officer of the TGH Foundation. managing their own finances. And they should be well-
Along with the Patient Support Fund, TGH’s Health organized and good with details.
Ambassador Program offers patients the ability to • Mental and physical fitness: Your trustee could serve
communicate with a nurse with specialized expertise who in that position for many years, so you’ll want to name
will coordinate all aspects of their care. someone who is in good physical and mental health. Of
As Florida’s leading academic health system for more course, things can change over time, so if you observe that
than 50 years, TGH is committed to health care for all your chosen trustee has begun to suffer physical or mental
and serves as the state’s safety net hospital, refusing to decline, you may need to name a successor trustee in your
turn patients away regardless of their lack of insurance or trust document.
ability to pay for services. As the hospital’s philanthropic • Conflict of interest: You want your trustee to carry
arm, the TGH Foundation provides a crucial source of out your wishes in a fair manner — so you should pick
funding to support these cases, furthering TGH’s mission someone who doesn’t have a conflict of interest with any
to heal, teach, innovate, and care for everyone, every day. of the beneficiaries you’ve named in your trust. Of course,
TGH is dedicated to pioneering breakthrough this can be tricky if you want to name a family member
treatments, conducting game-changing clinical research as trustee. If you do, you’ll need to spell out your wishes
and training the next generation of health care professionals clearly — to the trustee and to other family members. Lifestyles on page 19
through its partnership with the USF Health Morsani
College of Medicine at the University of South Florida.
TGH is also consistently recognized as one of the Nation’s
Best Hospitals by U.S. News & World Report.
With its network of practices in Palm Beach County,
patients receiving complex procedures or treatment at
TGH will be able to follow up with their TGH practitioner
on the East Coast upon returning home.
For more information about TGH and its network
of health care services on Florida’s East Coast, please
visit TGH.org/ThePalmBeaches or call (561) 739-4TGH
(4844).