Family and Estate Planning in Vermont

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FAMILY & ESTATE PLANNING IN VERMONT The Many Changes that Affect Families Through the Years

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This presentation talks about the many changes that affect family through the years and its impact to family and estate planning in Vermont.

Transcript of Family and Estate Planning in Vermont

Page 1: Family and Estate Planning in Vermont

FAMILY & ESTATE PLANNING IN VERMONT

The Many Changes that Affect Families Through the Years

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HUMAN NATURE AS A REASON WHY WE AVOID ESTATE

PLANNING

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There are many reasons people avoid estate planning

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It’s uncomfortable

It’s intimidating

We don’t understand the legal jargon

Past experiences with lawyers only confused us more

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It’s uncomfortable

It’s intimidating

We don’t understand the legal jargon

Past experiences with lawyers only confused us more

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It’s uncomfortable

It’s intimidating

We don’t understand the legal jargon

Past experiences with lawyers only confused us more

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It’s uncomfortable

It’s intimidating

We don’t understand the legal jargon

Past experiences with lawyers only confused us more

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The New American Family

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Modern family dynamics makes it even more important to

ensure estate planning is a priority

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New marriages

Step-children

Same sex marriages

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New marriages

Step-children

Same sex marriages

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New marriages

Step-children

Same sex marriages

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Marital Deductions

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A favorite tool for estate planning

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A favorite tool for estate planning

It must be right, or else, higher taxes could be the result

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A favorite tool for estate planning

It must be right, or else, higher taxes could be the result

Experienced estate planning lawyers are your best tool to avoid mistakes

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Gross estate is calculated after the estate executor takes over

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It combines the total value of all assets, the value of property left to survivors and

takes into consideration other factors, such as charitable contributions

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One especially important benefit is the absence of marital deduction limits

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Estate taxes can be eliminated in their entirety by

leaving the whole estate to the spouse

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It’s not always the answer though; marital deductions defer taxes,

NOT ELIMINATE THEM

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Outside Factors that Must Be Considered

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The recession changed everything

Unemployment is still high

Foreclosures are still problematic in most states

Lawmakers have few answers

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Other Questions We’re Asked

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What happens if someone doesn’t honor my wishes after I’ve died?

What if I’m a widow and want to remarry, what about my deceased wife’s estate?

I want my deceased husband’s children to receive his estate and not my new spouse’s children. How do I do that?

Can I leave my former stepchildren part of my own estate?

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I already have an estate plan, but how do I make adjustments?

I’m going through a divorce. How will this affect my estate plan?

What are healthcare directives?

What does DOMA mean for me and my partner?

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Want to Know More About Family and Estate Planning

in Vermont?

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Click to visit:

www.UnsworthLaw.net