BDS Trusts Introduction - Why Estate Planning
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http://MyBDSTrusts.com. BDS Trusts Introduction to why you need an estate plan. You work hard your whole live to develop your assets. What will happen to them after you die? Will they go to your loved ones? Or will a big chunk go to lawyers and courts? Everyone already has an estate plan. Either you decide what it is, or the government ill decide for you. BDS Trusts offers an online do-it-yourself estate planning solution that is easy, fast and affordable. Estate planning is no longer just for the rich. Find out more in this BDS Trusts Introduction.
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BDS Trusts Introduction - Why Estate Planning
- 1. Why Do Estate Planning? And Why Now? http://www.MyBDSTrusts.com
- 2. “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.” - Smart Money Magazine (January 2012)* * http://www.smartmoney.com/retirement/estate-planning/why-most-people-need-an-estate-plan-1300823957136/ http://www.MyBDSTrusts.com
- 3. 56% of Americans do not have any estate planning documents in place * * 2011 National Survey by LexisNexis http://www.MyBDSTrusts.com
- 4. Only 23% of American adults over age 50 have a trust * * AARP Poll http://www.MyBDSTrusts.com
- 5. Why Not? • Not enough assets • Costs too much • Uncomfortable topic • Too complicated http://www.MyBDSTrusts.com
- 6. Everyone Has an Estate Plan • Your plan or the government’s plan • Two questions: • Who makes decisions over your assets, your healthcare, your family’s future, etc. - You or the government? • How much of your estate do you want to be paid to courts and lawyers? http://www.MyBDSTrusts.com
- 7. No Documents or Will = Probate • Courts decide who receives your assets • Your private matters are public record • Family waits months before receiving assets • Multiple probates if assets in 2+ states • Thousands of dollars in costs and fees http://www.MyBDSTrusts.com
- 8. Costs of Probate • Filing fees (CA: $395; FL: $400) • Legal notice fees • Bond fees • Personal representative fees • Attorneys fees • Appraisal fees http://www.MyBDSTrusts.com
- 9. Total Cost of Probate • Ballpark range: 1% to 8% of estate • $300,000 estate: $3,000 to $24,000 • California: $100,000 estate can cost $8,000+ • PLUS: cost of time • PLUS: loss of privacy http://www.MyBDSTrusts.com
- 10. Solution: BDS Trusts Estate Planning Portfolio 20+ years working with estate planning professionals nationwide We are not a law firm and do not provide legal advice or services. BDS Trusts’ products are not a substitute for the advice of an attorney. http://www.MyBDSTrusts.com
- 11. Benefits of BDS Trusts • Easy: Online platform walks through process • Fast: Create documents in about 1 hour • Flexible: Can change documents later • Affordable: $600 for entire package • Comprehensive: Full estate planning package http://www.MyBDSTrusts.com
- 12. Documents Included • Revocable Living Trust • Last Will (Pour-Over Will) • Durable Powers of Attorney • Advanced Medical Directives • Many more documents! • PLUS: Secure on-line storage http://www.MyBDSTrusts.com
- 13. What is a Living Trust • Document that creates a new entity • Fund your assets into the trust • You own and control the trust while alive • Move assets in and out of the trust • Specify what happens to assets after you die • Revocable and changeable while alive http://www.MyBDSTrusts.com
- 14. Benefits of Avoiding Probate • Save money • Save time • Save hassles (paperwork) • Privacy http://www.MyBDSTrusts.com
- 15. You Decide - Not a Court • Who receives your hard earned assets • When they receive them (at what age) • How they receive them (over time; lump sum) • Who makes decisions if you are incapacitated • Who manages assets for minors • Who raises your children http://www.MyBDSTrusts.com
- 16. The Ultimate Gift • Peace of mind for you • Ease burdens for your family • Fewer decisions for them to make • Peace of mind because they know they are following your wishes http://www.MyBDSTrusts.com
- 17. Do It Now! • While you are healthy and capable • Don’t wait for tragedy before acting http://www.MyBDSTrusts.com
Editor's Notes
- Most people should have an estate plan for what happens to their assets after they die.
- If you don’t make your own plan, government will make those decisions for you.
- 6+ months. 1 reason probate takes time becausemost states have minimum periods of time that creditors are allowed to respond.No documents or will: give up decision making to court system and pay a lot of money to attorneys.If you don’t handle your affairs, the government and expensive lawyers will do it for you; and that will likely mean your family will get a lot less of you’re the assets your worked hard for your entire life;
- Flexible: circumstances change…divorce, beneficiary dies, add beneficiary or other changes in your life
- What happens to assets: who manages assets, who distributes them, who receives themOwn and control: you are the trustee and beneficiaryContinue to do what you’ve always done, and you can move assets into and out of the trust
- A will does not provide these benefitsMoney goes to your family without taking out a big chunk to courts or attorneys
- Decisions if you are incapacitated: involving financial matters, involving healthcare matters, whether you want to be placed on life support systems if you are terminally illYou control decisions that affect you, you health, your assets and your family…not a court or attorneys
- Make future easier for your loved ones; less logistics and decisions;hard to make decisions when they are grieving
- When someone in hospital and told only few years or months to live, have to make important decisions under a great deal of stress. Don’t do that to yourself & yr family.