Family Protection Plan Seminar


Published on

This presentation was presented to families with young children concerning their estate plan options.

  • 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

Family Protection Plan Seminar

  1. 1.<br />
  2. 2. A little about me. . . <br />
  3. 3.
  4. 4. What do you want to learn from this presentation?<br />
  5. 5. How many people have their estate plan done?<br />Why did you do it?<br />
  6. 6. The purpose of your estate plan?<br />To protect your kids!<br />
  7. 7. What should your estate plan include?<br /><ul><li> Last Will & Testament
  8. 8. Revocable Trust
  9. 9. Temporary Custodian Designation
  10. 10. Power of Attorney
  11. 11. Healthcare Directive</li></li></ul><li>What are we going to talk about?<br />The importance of a Will. . .<br />What is a temporary custodian?<br />Do I really need a Trust?<br />
  12. 12. The importance of a Will. . .<br />. . . and how does it protect my kids?<br />
  13. 13. A Will accomplishes three things. . .<br />Appoints a guardian for your children<br />Allows you to create a tangible personal property list<br />Distributes property to your trust<br />
  14. 14. Guardianships . . .<br />
  15. 15. What should you consider when choosing your guardian? <br />First, let’s consider the responsibilities of a guardian:<br />
  16. 16. Other Guardianship considerations . . .<br />
  17. 17. Question #1:<br />Do your children actually like who you are proposing to act as your guardian? <br />
  18. 18. Do your children actually like who you are proposing to act as your guardian? <br />
  19. 19. Question #2:<br />What is your proposed guardian’s relationship with their own family?<br />
  20. 20. Is your proposed guardian in a stable relationship? <br />How is their marriage?<br />How do they communicate?<br />How happy are their children?<br />
  21. 21. Question #3:<br />What are your proposed guardian’s religious beliefs? <br />
  22. 22. Do they share your values, ethics, spiritual beliefs and morals?<br />Do you practice the same religion as your proposed guardians?<br />Do they attend church regularly?<br />Does it matter to you whether your child is exposed to a different religion or potentially none at all?<br />
  23. 23. Question #4:<br />Do you have the same child rearing techniques as your proposed guardian?<br />
  24. 24. Question #5:<br />What activities will they do with your kids?<br />
  25. 25. Question #6: <br />What is the ability of your proposed guardian to raise your children?<br />
  26. 26. Question #7:<br />Is their house too small or is it BIG enough?<br />
  27. 27. Question #8:<br />Where does your proposed guardian live?<br />
  28. 28. Will your children attend the same school?<br />Will your children have easy access to your relatives?<br />
  29. 29. Questions on Wills and Guardians?<br />
  30. 30. Designation of Temporary Custodian. . .<br />
  31. 31. What is a Temporary Custodian Designation?<br />A Temporary Custodian Designation is a written document naming a standby or temporary custodian who may act if you become incapacitated, incompetent or if you die.<br />
  32. 32. Why do I need to designate a temporary custodian?<br />A Temporary Custodian Designation can avoid your children having to be placed temporarily into a foster home <br />
  33. 33. Why do I need a Trust. . .<br />
  34. 34. To avoid<br />PROBATE<br />
  35. 35. What is Probate?<br />
  36. 36. How does probate work?<br />Probate Court<br />Assets<br />Beneficiaries<br />
  37. 37. Probate takes time!<br />Probate usually takes 6 to 12 months to complete<br />
  38. 38. In addition!!!<br />Without a Trust. . .<br />A conservator must be Court appointed to manage your children’s inheritance<br />Your children receive their lump sum share when they turn 18<br />At the age of 18 your children are in charge of managing their lump sum distribution and can spend it on the purchase of their choice<br /> <br />
  39. 39. How do I avoid Probate?<br />
  40. 40. By Establishing a Trust<br />Avoids Probate<br />Accelerates Distributions to your Beneficiaries<br />Keeps your Estate Plan Private<br />Cost Savings to your Beneficiaries<br />You are able to plan for your Disability or Incapacity<br />
  41. 41. How does a Trust work?<br />Probate Court<br />Assets held in Trust<br />Beneficiaries<br />
  42. 42. With a trust, there is no delay in the availability of your estate assets for your children<br />
  43. 43. Why should I establish a trust for my children?<br />A trust can prevent your children from receiving a large lump sum distribution when your children turn 18!<br />
  44. 44. Why should I establish a trust for my children?<br />You can determine appropriate expenses for your children such as. . . <br />
  45. 45. Why should I establish a trust for my children?<br />You can determine when and under what conditions they are able to receive their inheritance! <br />
  46. 46. Why should I establish a trust for my children?<br />TRUST<br />=<br />PROTECTION<br />PEACE OF MIND<br />CONTROL<br />GUIDANCE<br />
  47. 47. Questions on Trusts?<br />
  48. 48. 130 North Rum River Dr.<br />Princeton, MN 55371<br />(763) 389-0178<br />Fax (763) 225-0636<br />Go to: for an Estate Planning Packet<br />Copyright © 2010 Berry Law Offices 2010<br />