What You Need to Know About

Estate Planning™

Jim EagarAttorney & Counsellor at Law

Part 1

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Most Estate Plans Just Don’t Work

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The “Snapshot” TestWednesday, October 9, 13

Definition

• Control My Property While I’m Alive & Well

• Plan for My Incapacity & My Loved Ones

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Leave What I Have:

•To Whom I Want

•When I Want

•The Way that I Want

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•People are Different

•Things Change

•We’re all Going to Die

Why Plans Don’t Work

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1. People are DifferentWednesday, October 9, 13

Save Taxes

Expand Wealth

Preserve Wealth

Family

Me

Estate Planning Pyramid

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Willvs.

TrustWednesday, October 9, 13

Vs.

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WPWednesday, October 9, 13

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Personal Planning Goals

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Disability Protection

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Remarriage Protection

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Creditor Protection

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Divorce Protection

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Three-StepProcess

#1 - Base Your Plan on

Counseling, not Word Processing

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2. Things ChangeWednesday, October 9, 13

Types of Change:

•Life

•Personal & Financial

•Law

•Tax & Non-Tax

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Three-StepProcess

#2 - Be Part of a Formal Update &

Education Program

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3. We’re All Going to DieWednesday, October 9, 13

Controlling the Cost

•Cost of the Documents

•Cost of Updating

•Cost After Death

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After Death Fees

•Trust Settlement Administration

•Death Tax Return Preparation

•Probate Services

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(a)$Subject$to$the$provisions$of$this$part,$for$ordinary$services$the$attorney$for$the$personal$representative$shall$

receive$compensation$based$on$the$value$of$the$estate$accounted$for$by$the$personal$representative,$as$follows:$

$$$(1)$Four$percent$on$the$first$one$hundred$thousand$dollars$$$$$$$$$($100,000).$

$$$(2)$Three$percent$on$the$next$one$hundred$thousand$dollars$$$$$$$$$$($100,000).$$$$(3)$Two$percent$on$the$next$eight$hundred$thousand$dollars$$$$$$$$$$$($800,000).$

$$$(4)$One$percent$on$the$next$nine$million$dollars$($9,000,000).$

$$$(5)$OneLhalf$of$1$percent$on$the$next$fifteen$million$dollars$

$$$$$$$$$$$($15,000,000).$$$$(6)$For$all$amounts$above$twentyLfive$million$dollars$$$$$$$$$$$$($25,000,000),$a$reasonable$amount$to$be$determined$

by$the$court.$

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Oregon:

“Reasonable Fees”

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Approximate Fees

•Traditional Probate 2% - 8% +

•Trust Settlement 1.5% - 2.5%+

•Lifetime Planning Process 2%

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Traditional*Estate*Planning*Fees*

Updating*?*

Settlement*Fees*Probate*288%*Trust*1.582.5%*

Initial*Investment*

Total of all 3 costs of estate plan ??????

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Family'Lifetime'Planning™'Estate'Planning'Fees'

Updating'$399'yr'

Lower'Settlement'Fees'

Initial'Investment'¼'%'+'$995'

Saves $1,000�s, plus a customized plan that works Overall cost �about� 2% - �More for less�

Counselling'

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Full Disclosure &Controlled Cost

= Peace of Mind

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Three-StepProcess

#3 - Plan for a Controlled

Transfer Process

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• Counseling-Based

• Full Asset Integration

• Formal Review

• Appropriate Help

Keys to anEffective Plan

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We Need A Process!

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“If you’re not satisfied at any time before you sign the documents, your money

cheerfully refunded!”

Your Satisfaction Guaranteed:

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The Next StepWatch Part 2 of

“What You Need to Know About Estate

Planning”

• Personal Planning Goals• Reducing Estate Taxes• Trust Design• 3 Levels of Service

Wednesday, October 9, 13