1. TEN GOOD REASONS NOT TO AVOID PROBATE Presented by: Andrew T. Morehead, CFP®, ATP, ECS NSA Annual Meeting Kansas City, Missouri August 28-30, 2008

2. NEED FOR A WILL If you die intestate: Court appoints administrator Assets divided equally or by statute Grandchildren/Stepchildren may be excluded Favorite people may not get favorite things No contributions to church or charity May disqualify recipient for benefits

3. MINIMIZE CAPITAL GAINS Use stepped up basis provisions Post-mortem planning Disclaimers

4. COST V. SAVINGS Informal/small estate provisions Cost of living trust

5. FUNDING A LIVING TRUST All assets must be conveyed Title problems and other restrictions

6. CERTAINTY AND FAIRNESS Intent of the decedent Statement of intentions Apportionment/payment of estate taxes

7. SELLING ESTATE PROPERTY Personal representative’s deed Costs of sale Partition of real property

8. ELIMINATE CREDITOR/OTHER CLAIMS Statutory notice provisions Challenges from heirs Time limits under probate

9. AVOID ENVIRONMENTAL CLAIMS Inheritance defense under Superfund

10. HOLD S CORP STOCK LONGER Full period of administration

11. INCOME TAX ADVANTAGES Taxable years Related party rules