Presentation from February 2009 Delta Township District Library, Lansing, Michigan.

1. Living Trusts for a New Generation
A Smart Parent’s Guide to Wills & Trusts
This presentation is intended for educational
purposes only. The information contained
herein does not constitute legal advice nor
does it create an attorney-client relationship
between the viewer or seminar participant
and Attorney Jo Anne Hinds.
Jo Anne Hinds
Attorney at Law
Delta Township District Library
February 2, 2009

2. Parents today are making smarter choices.
Tonight we’ll learn how to…
• simplify your estate
• reduce administrative costs
• reach your goals

3. …and what can happen if you don’t.
Would you want
a JUDGE to decide?
• who will raise your children, if
they are under the age of 18
• who will administer your estate
• who will receive your estate
• who will make medical decisions
for you if you can’t make them
yourself?

4. Wills vs. Trusts – What’s the Difference?
Last Will & Testament Living Trust Agreement
• Assets passing through will • Assets passing through trust
subject to probate not subject to probate
• Court costs • No court costs
• Public court file • Private agreement
• Less control of assets • More control of assets
• Only provides for • Provides for your care for
distribution of your assets at your lifetime and distribution
death of your assets at death

5. A living trust is
like a basket.

6. With a Living Trust…
• You can simplify the
administration of your estate
• You can reduce
administrative costs.
• You can have an estate plan
that accomplishes your
objectives.
Let’s find out how…

7. You can simplify your estate.
• Be organized!
• Get it done right.
• Choose the right people for the right roles.

8. You can reduce administrative costs.
• Choose your
legal counsel wisely.
• Avoid unnecessary
court proceedings
during your lifetime.
• Avoid probate at death.

9. You can have an estate plan that
accomplishes your goals.
• Identify your expectations
and priorities.
• Clearly communicate your
goals to your attorney and
carefully review your
documents before signing.
• Review your estate plan every
3-5 years to make sure your
plan remains on target.

10. What if the future
brings unforeseen changes?
• Keep trust agreements
funded correctly
• Amend or restate trust
terms that are no longer
appropriate/accurate
• Update fiduciary roles
whenever necessary

11. What Can You Do Yourself to Prepare?
• Make a list of your beneficiaries
• Note if there are strings attached
to the gifts
• Make a list of people you trust to
carry out your wishes (with at
least one alternate)
• Make a list of special items you’d
like to give
• Make a list of your assets – real
estate, financial accounts, stocks,
investments, businesses

12. What We’ve Learned Tonight
Let’s Review…
• We can be smart about our estate plans.
– We can minimize costs.
– We can accomplish our goals.
– We choose the right people for the right roles.
• We can make a difficult situation
easier for our families.

13. Jo Anne Hinds
Advising Families Just Like Yours Since 1994
• Wills, trusts, powers of attorney
• Estate planning for clients of all ages
• Estate administration and mediation services
• House calls exclusively, at no additional charge
• Weekday evening and Saturday consultations
• Free 30 minute initial telephone consultations
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Thank you!