Estate Planning Presentation


Published on

  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Estate Planning Presentation

  1. 1. Estate Planning Workshop<br />Evergreen Commons<br />P. Haans Mulder<br />Cunningham Dalman, P.C.<br />321 Settlers Road<br />Holland, MI 49423<br />(616) 392-1821<br /><br />
  2. 2. Background<br />Partner at Cunningham Dalman, P.C.<br />Specialize in estates/elder law and business planning <br />Have a Masters in Tax and close to completing Certified Financial Planning designation<br />
  3. 3. Background<br />Office is located in Holland<br />Firm has been serving the Holland/Zeeland area since 1900<br />Have 15 attorneys specializing in all areas of the law<br />
  4. 4. Overview<br />Discuss the parts of an estate plan<br />Cover the estate planning process<br />Explain the most common types of estate plans<br />
  5. 5. What is estate planning?<br />Process of planning for the future management and distribution of your assets and your future medical care<br />Includes documents such as wills, trusts, and powers of attorney<br />
  6. 6. Why is estate planning important?<br />Significantly reduces the cost of administration<br />Minimizes the stress for your family and friends involved in the process<br />
  7. 7. Why is estate planning important? <br />It allows you to determine who will receives your assets<br />It authorizes someone to make your medical decisions<br />
  8. 8. Is it time consuming?<br />Collect your financial information <br />Attend one initial planning meeting that will last one hour<br />Review drafts of documents<br />Attend a signing conference for one hour<br />
  9. 9. How much does it cost?<br />There are two common estate plans<br />One plan avoids probate is $850 (includes a living trust, pour-over wills, and powers of attorney)<br />
  10. 10. How much does it cost?<br />Other plan does not avoid probate is $500 (includes wills and powers of attorney)<br />Does not include estate tax or Medicaid planning<br />
  11. 11. What is probate?<br />Probate is a court process to administer a deceased person’s financial affairs<br />Required when someone passes away with assets in his or her own name or fails to name a beneficiary<br />
  12. 12. Why avoid probate?<br />Probate is a public process so anyone can access information on your assets and your beneficiaries<br />Probate process can exacerbate otherwise tense family situations<br />
  13. 13. Why avoid probate?<br />Probate can be costly to administer (between 3-8% of your estate)<br />Probate process takes time to complete (6-9 months)<br />
  14. 14. What does the estate planning process look like?<br />Sent information about estate planning and a questionnaire<br />Attend a meeting that we discuss your goals and the types of estate plans<br />
  15. 15. What does the estate planning process look like?<br />Prepare and send to you a draft of the estate planning documents<br />Review documents and call with questions or changes<br />
  16. 16. What does the estate planning process look like?<br />Attend a signing conference<br />May need to change beneficiaries on life insurance and retirement plans or/and fund your trust<br />
  17. 17. What are the most common estate plans?<br />Basic plan includes wills (potentially with a trust) and powers of attorney<br />For clients who have young children and are not concerned with avoiding probate <br />
  18. 18. What are the most common estate plans?<br />Other plan includes a living trust, pour-over wills, and powers of attorney<br />Plan is designed for clients with grown children and who desire to avoid probate<br />
  19. 19. Questions……<br />
  20. 20. Thank You<br />P. Haans Mulder<br />Cunningham Dalman, P.C.<br />(616) 392-1821<br /><br /><br />