This document discusses basic estate planning and common estate plans such as wills, joint ownership, beneficiary transfers, and revocable living trusts. It explains that a revocable living trust can help avoid probate, control the distribution of assets after death, and provide maximum tax savings. The document outlines some of the key components of an estate plan including a trust agreement, pour over will, powers of attorney, living will, and trust amendments. It also describes the estate planning process of completing forms, reviewing a draft living trust, signing final documents, and funding the trust.

1. Estate Planning Basic Estate Planning Workshop

2. What Is An Estate?

3. Why Do Estate Planning? After Death Control Who Receives Assets Pay Minimum Legal Fees, Taxes At Incapacity Control Assets, Medical Decisions

4. A.D.D. Alive Disabled Deceased

5. Common Estate Plans Will Doing Nothing Joint Ownership Giving Away Assets Beneficiary Transfers Revocable Living Trust

6. Probate Assets Titled in Just Your Name Go Through Probate PROBATE Probate Fees Taxes Beneficiaries

7. Giving Away Assets You Lose Control

8. Stepped-Up Basis Lifetime Gifts (Your Basis) Selling Price $150,000 Basis - 10,000 Gain $140,000 Capital Gains Tax $ 28,000

9. Stepped-Up Basis Lifetime Gifts Transfers At Death (Your Basis) (New, Stepped-Up Basis) Selling Price $150,000 $150,000 Basis - 10,000 -150,000 Gain $140,000 $ 0 Capital Gains Tax $ 28,000 $ 0

10. Beneficiary Transfers Court Interference if Beneficiary: Incapacitated Dies First or at Same Time “ My Estate” Minor

11. Keeping Control with a Revocable Living Trust

12. Expenses That Reduce Your Estate Probate Estate Taxes Income Taxes

13. Tax Relief Act of 2001 EGTRRA 2001 2002 & 2003 $1,000,000 2004 & 2005 $1,500,000 2006 - 2008 $2,000,000 2009 $3,500,000 2010 Estate and GSTT repealed 2011 to 2013 $5,000,000

14. Choices in Estate Planning No Joint Simple Power of Living Will Tenancy Will Attorney Trust Avoid Guardianship? Avoid Probate on the 1st Death? Avoid Probate on the 2nd Death? Control the Distribution on the 1st Death? Control the Distribution on the 2nd Death? Provide the Maximum Tax Savings? No No No No No No No Yes Yes Yes Yes No No No No Yes Yes Yes Yes No No No No No Yes Yes Yes Yes Yes Yes

15. What is an Estate Plan? A Trust Agreement “ Pour Over” Will Durable Power of Attorney Durable Power of Attorney for Health Care Living Will Trust Amendments (Trust Minutes) Quit Claim Deed Trust Execution & Management Instructions

16. The Actual Process Complete the Data Form and schedule an appointment to review your Data. The attorney will prepare a draft of your Living Trust for your review and approval. Upon your approval of the draft, the final copy of your Living Trust will be prepared for signing. Upon your Execution of your Personal Family Living Trust , your Estate Planning Team will assist you in the FUNDING of your Trust !

17. Thanks for Attending

18. Estate Planning Presented by Arthur J. Pauly, Jr. J.D. Esq. 916-207-7526 www.paulylaw.com [email_address]