1. Living Trust Probate Avoidance Estate Preservation Peace of Mind

2. Probate  A court procedure by which a will is proved to be valid or invalid;  In current usage, this term has been expanded to generally include all matters and proceedings pertaining to administration of estates, guardianships, and distribution of a deceased person’s estate.

3. What’s So Bad About Probate?  It can be expensive; 3% - 9 % (of Estate Value)  It takes time; Usually 9 months to 3 years. During part of this time, assets are usually frozen so an accurate inventory can be taken.  Privacy. Probate is a public process, so any interested party can see what you owned and who you owed.  Your family has no control. The probate process determines how much it will cost, how long it will take, and what information is made public.

4. Example: Home with Fair Market Value of $500,000  With fees averaging 3 - 9 % lets use 5% in our example;  $500,000 (times the fee) 5% = $25,000.00  Even if you don’t have equity in the property the amount will be collected from the overall estate

5. Why would the court get involved at incapacity?  If you can’t conduct business, due to mental or physical incapacity only a court appointee can sign for you- even if you have a will. (Remember, a will only goes into effect after you die.)  Once the court gets involved, it usually stays involved until you recover or die. The court, not your family, controls how your assets are used to care for you. This public process can be expensive, embarrassing, time consuming and difficult to end if you recover. And it does not replace probate at death-your family could have to go through the court system twice.

6. By now you have learned: Wills = Probate:  Expensive 3%-9 %  Time consuming  9 months to 3 years.  No Privacy  No Control Living Trust  Avoids Probate & fees  Acts immediately  Privacy  Control of assets

7. Your Attorney  Robert Fink, Attorney at Law, designs, creates and implements estate and retirement planning strategies, and specializes in protecting IRA’s and retirement plans from excessive taxation. “The best thing we offer our clients are unique strategies and state-of-the-art techniques. We have the knowledge and the ability to take complex ideas, boil them down and apply them.”  Robert Fink, Attorney at Law, designs, creates and implements estate and retirement planning strategies, and specializes in protecting IRA’s and retirement plans from excessive taxation. “The best thing we offer our clients are unique strategies and state-of-the-art techniques. We have the knowledge and the ability to take complex ideas, boil them down and apply them.”  Robert received his Bachelor of Science degree in 1991 from Michigan State University, and his Juris Doctorate degree in 1994 from the University of Detroit Mercy School of Law, where his course focus was estate planning, taxation, securities and business planning, and advanced estate planning.

8. Living Trust Components  Pour Over Will  Living Trust Document  Power of Attorneys;  Health, Living Will, & Property  Funding Instructions  Quitclaim Deed, Transfer of Assets, including Notary Living Trust

9. Are you on track with your estate planning? Use the following ten point checklist to find out. Just answer each question with a “Yes” or “No.” Does your estate plan:  Include an up-to-date Will?  Name a guardian for your minor children?  Take into consideration any special medical or educational needs certain family members may have?  Include provisions for long-term health care for you and your spouse and/or other dependents should the need arise?  Take advantage of the benefits of lifetime gifts.  Include charitable gifts?  Provide investment assistance for family members who may need help managing their inheritances?  Minimize taxes?  Provide for a smooth and tax-advantaged transfer of your business interests at your retirement or death or if you become disabled?  Every “NO” answer may indicate a gap in your estate planning?

10. Remember… Where there’s a Will … there’s a PROBATE! Conclusion: