This presentation was presented to families with young children concerning their estate plan options.

1. www.berrylawoffices.com

2. A little about me. . .

4. What do you want to learn from this presentation?

5. How many people have their estate plan done? Why did you do it?

6. The purpose of your estate plan? To protect your kids!

8. Revocable Trust

9. Temporary Custodian Designation

10. Power of Attorney

12. The importance of a Will. . . . . . and how does it protect my kids?

13. A Will accomplishes three things. . . Appoints a guardian for your children Allows you to create a tangible personal property list Distributes property to your trust

14. Guardianships . . .

15. What should you consider when choosing your guardian? First, let’s consider the responsibilities of a guardian:

16. Other Guardianship considerations . . .

17. Question #1: Do your children actually like who you are proposing to act as your guardian?

18. Do your children actually like who you are proposing to act as your guardian?

19. Question #2: What is your proposed guardian’s relationship with their own family?

20. Is your proposed guardian in a stable relationship? How is their marriage? How do they communicate? How happy are their children?

21. Question #3: What are your proposed guardian’s religious beliefs?

22. Do they share your values, ethics, spiritual beliefs and morals? Do you practice the same religion as your proposed guardians? Do they attend church regularly? Does it matter to you whether your child is exposed to a different religion or potentially none at all?

23. Question #4: Do you have the same child rearing techniques as your proposed guardian?

24. Question #5: What activities will they do with your kids?

25. Question #6: What is the ability of your proposed guardian to raise your children?

26. Question #7: Is their house too small or is it BIG enough?

27. Question #8: Where does your proposed guardian live?

28. Will your children attend the same school? Will your children have easy access to your relatives?

29. Questions on Wills and Guardians?

30. Designation of Temporary Custodian. . .

31. What is a Temporary Custodian Designation? A Temporary Custodian Designation is a written document naming a standby or temporary custodian who may act if you become incapacitated, incompetent or if you die.

32. Why do I need to designate a temporary custodian? A Temporary Custodian Designation can avoid your children having to be placed temporarily into a foster home

33. Why do I need a Trust. . .

34. To avoid PROBATE

35. What is Probate?

36. How does probate work? Probate Court Assets Beneficiaries

37. Probate takes time! Probate usually takes 6 to 12 months to complete

38. In addition!!! Without a Trust. . . A conservator must be Court appointed to manage your children’s inheritance Your children receive their lump sum share when they turn 18 At the age of 18 your children are in charge of managing their lump sum distribution and can spend it on the purchase of their choice

39. How do I avoid Probate?

40. By Establishing a Trust Avoids Probate Accelerates Distributions to your Beneficiaries Keeps your Estate Plan Private Cost Savings to your Beneficiaries You are able to plan for your Disability or Incapacity

41. How does a Trust work? Probate Court Assets held in Trust Beneficiaries

42. With a trust, there is no delay in the availability of your estate assets for your children

43. Why should I establish a trust for my children? A trust can prevent your children from receiving a large lump sum distribution when your children turn 18!

44. Why should I establish a trust for my children? You can determine appropriate expenses for your children such as. . .

45. Why should I establish a trust for my children? You can determine when and under what conditions they are able to receive their inheritance!

46. Why should I establish a trust for my children? TRUST = PROTECTION PEACE OF MIND CONTROL GUIDANCE

47. Questions on Trusts?

48. 130 North Rum River Dr. Princeton, MN 55371 (763) 389-0178 Fax (763) 225-0636 Go to: www.berrylawoffices.com/forms for an Estate Planning Packet Copyright © 2010 Berry Law Offices 2010