While I’m not yet a parent, I can imagine it must be very difficult to select a name for your child. In choosing the name, you must also consider what nicknames may be associated with it. For as long as I can remember, I have been called Kim. I assume it was shortened in grade school and the name just stuck.
As a student, Kim seemed appropriate and still is on a social level, however as I further my career, I question whether I want to use Kim or Kimberly professionally. I have always used my full name for all legal matters, contracts, bank accounts etc. but use Kim in less professional and social contexts.
While this issue has come up recently for me personally, it is an issue we address with clients frequently. When clients initiate their estate plan, we ask for their complete names and any nicknames or aliases they use. An estate plan should include the names in which you have used to hold ownership of assets and for most, title of ownership is not always consistent. Additionally we often see that married women change their name on their driver’s license or other form of identification but fail to change the title of accounts or real property. When the time comes to transfer or sell property, there is no identification that matches the name listed, which can create complications when having documents notarized.
When establishing or reviewing your estate plan, it is an opportune time to look at your name as stated on your driver’s license, passport and assets. It is suggested that all of your identification documents as well as title of ownership match so there is no confusion regarding your legal identity. In funding and transferring your assets to your living trust, you can create consistency in holding title as Trustee.