Presented by: Douglas G. Goldberg, Esq.

 50% to 70% have no plan  50% of those are out of date  Baby boomers (Born 1946 to 1964)  48 to 66 years old  76 Million / 314 Million (24%)  Colorado population = 5.2 Million (1,248,000)  Folks are skeptical; Building trust is critical Just the Facts

 The “Two – Step” Practice Model  Document oriented – Minimal counseling  Minimal time with clients  Higher volume  Non-legal funding rarely completed  Weak client relationships  Lower fees  Difficult to eliminate “shoppers” Existing Planning Paradigm

Trust Settlement & Administration Death Tax Return Probate Services Asset Transfer The Documents Updating Failure to Update Taxes

 The “Collaborative” Practice Model  Counseling oriented  Expanded time with clients – 3 or more meetings  Lower volume  Non-legal funding always completed  Strong, generational client relationships  Much higher fees  No “shoppers” Future Planning Paradigm

 Andrew Carnegie’s “Red Shirt”  Action  Attitude  The Estate Planning “Red Shirt”  Team approach to estate planning  Counseling oriented advisors  Fully funded living trusts  Value billing  Technical excellence  Regular follow up  Accountability The Secret of Success

 Process based, not Transaction based  Zero estate tax based planning; “Built in” asset protection  Minimal settlement and transfer costs  Driven by personal and family values  Advisor teams & multi-disciplinary practices  Deliverable = Wisdom NOT documents  Focus on VALUE, rather than COST  Trust; Relationship; Stewardship The “Red Shirt” of the Future

R. I. P. Real Reliable Radical Responsive Impact Individualized Important Integrated Process Protection Possibilities Peace of Mind

 Control and protect assets  Plan for disability  Give what they have  To whom they want  When they want  The way they want  Control settlement costs Reasons to Plan Save Taxes / Avoid Probate Expand and Protect Assets Assets – What; Who; HowFamily & Other BeneficiariesIndividual

  Documents that are properly counseled, designed and drafted   Fully funded and regularly updated   Educated client family   Controlled settlement costs The Perfect Plan

So…What’s in it for me?

Lifetime Provisions Disability Provisions 1. Liability umbrella a. Others on team / referrals b. Protection for managed assets c. Multi-line (Attrition Protection) 2. Street Account / Diversify portfolio a. Ease of transferring assets 3. Retirement accounts (IRA / 401k / Roth) 4.Financial Needs Analysis 5.Assets Under Management 6. Income tax planning (412i; 419) 7. Disability income insurance 8. Business OH expense insurance 9. Long Term Care Insurance a. How to pay for it

12.Funding of Marital and Family Trusts 13.“Debt – Free” Insurance 14. Income Replacement Insurance 15. Assets Under Management a. Non-spousal mgmt of heirs’ assets b. IRA / 401(k) / 403(b) rollovers 16. Investment assistance for spouse a. Cash flow analysis 1st Death Administration 10.Tax returns Survivor’s Investment and planning review Federal Estate Tax Planning Marital Trust Family Trust

2 nd Death Administration 16. Theft (Life) Insurance for estate taxes a.Life insurance trust 17. Wealth Creation / Preservation Insurance b.In Life insurance trust 18. Tax return (706 / 709 / 1041) 19. Succession clients – adults / minors a. Mgmt of minor children’s assets b. IRA / 401 k / 403 b rollovers c. Assets Under Management 20. Investment assistance for adult children a. Cash Flow analysis b. Investment / planning review 21.Offering additional service without any additional cost to you 22. Introduction to charities Beneficiaries’ Separate Shares Common Trust for Minors? Child Grandchild Family Member Charity

3 Legged Stool 3 rd Party Credibility Educate to Motivate Truth Sells

 Planning Timeline  Issue Spotting – Opening the Door  Goals, Risks and Anxieties Checklist  Questions to Ask  Spots on the X-ray  Disability Questions  Will or Trust?  The Big “C”  Do’s and Don’ts  DIY Article  ICI Package Tools to Help

Planning Timeline Planning Opportunity Today Catastrophic Illness Death Mental Incapacity WillLiving Will Powers of Attorney Revocable Living Trust HIPAA Authorization

Questions to Ask  Minor Children  Self Employed  Rental Property  Second Marriage  Income Replacement  Obsolete Planning  Large Qualified Plan  Creditors  Joint Tenancy Property  Special Needs Children  Substance Abuse  Charitable Inclination  Single Parent  Government Benefits  Taxable Estate  Children’s Marriages

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 Who determines disability?  Who acts for them (Agent)?  What can the Agent do?  Providing for family?  Artificial life support?  Who pays for the care? Disability Issues

 Refrigerator or Gun Safe?  When do you want to retitle your assets?  Difference in design fee = “funding” cost  Will Planning  Time to Settle:18 Months  Cost to Settle:~ 2% of gross estate  Trust Planning  Time to Settle:90 days  Cost to Settle:~ ½ % of gross estate Will or Trust?

 No privacy  Disability determined publicly by Court  Limited tax planning  Longer and more costly disposition of assets  No protection while alive; 6-12 months after death  Less work now; Far more work later  Maximum privacy  Disability determined privately  Maximum tax planning  More efficient & cost effective disposition  No protection while alive; Max protection after death  More work now; Far less work later Will or Trust—Which is Better?

Overall Cost of Planning Today Mental Incapacity Catastrophic Illness Death  Documents / Creation Settlement / Distribution  Updating / Preservation Not “if,” just “when”

1.Work with a Counseling Oriented attorney 2.Establish and maintain a formal updating program 3.Control settlement costs 3 Step Action Plan

 We’re really good  Over 50 years combined experience  Commitment to technical excellence  We’re really nice  Attorneys and staff who genuinely care about people  We’re really long term focused  Relationships with the next generation  Reflected in our strategies and documentation  We’re really fanatical about our work  We’ll never embarrass you  You’ll be proud to have us do your mom and dad’s estate plan Why Use Us?

 Joint seminars & events  For Clients  For Employees of Clients  For Your Team  Retail Event  Annual Event  Advisor Teleconferences  Guest Columnist  Newsletter  Blog  Private branding of books Opportunities to Work Together

 Tell them what they need  Tell them the process is “quick & easy” — we are not selling cheeseburgers  Sell the process as a commodity  Quote our fee  Get discouraged if it takes longer than you’re used to – It will be worth it!  Encourage clients to plan with us  Use real life scenarios  Tell them that we customize every plan to fit individual needs  Attend the initial meeting  Follow up with additional planning opportunities  Help us with the asset funding What’s YOUR Part? Do NotDo

 Initial Meeting with clients – Generally, complimentary  About an hour  Explain the process  Explore their planning goals at no charge  Provide sound legal advice, strategy and documents  To achieve their personal and family goals now and in the future  Identify additional planning opportunities for the team  Charge a reasonable fee  If cost if their only concern, send them to Legal Zoom or Office Max What’s OUR Part?

Funding and Financial Strategies With Attorney & Advisors 1 ½ hours Delivery Meeting With Attorney and Service Team 3 hours Asset Identification Meeting With Attorney 1 hour Design Meeting With Attorney 3 hours Our Estate Planning Process Initial Interview With Attorney & Advisor 1 ½ hours

So…What’s in it for me?  Increased service to your clients  Increased value to you client and to the team  Higher quality, longer term relationships  Continued education and expertise  More money  More time

What’s in It For Your Clients? Peace of Mind