1. Estate Planning Workshop Evergreen Commons P. Haans Mulder Cunningham Dalman, P.C. 321 Settlers Road Holland, MI 49423 (616) 392-1821 phmulder@holland-law.com

2. Background Partner at Cunningham Dalman, P.C. Specialize in estates/elder law and business planning Have a Masters in Tax and close to completing Certified Financial Planning designation

3. Background Office is located in Holland Firm has been serving the Holland/Zeeland area since 1900 Have 15 attorneys specializing in all areas of the law

4. Overview Discuss the parts of an estate plan Cover the estate planning process Explain the most common types of estate plans

5. What is estate planning? Process of planning for the future management and distribution of your assets and your future medical care Includes documents such as wills, trusts, and powers of attorney

6. Why is estate planning important? Significantly reduces the cost of administration Minimizes the stress for your family and friends involved in the process

7. Why is estate planning important? It allows you to determine who will receives your assets It authorizes someone to make your medical decisions

8. Is it time consuming? Collect your financial information Attend one initial planning meeting that will last one hour Review drafts of documents Attend a signing conference for one hour

9. How much does it cost? There are two common estate plans One plan avoids probate is $850 (includes a living trust, pour-over wills, and powers of attorney)

10. How much does it cost? Other plan does not avoid probate is $500 (includes wills and powers of attorney) Does not include estate tax or Medicaid planning

11. What is probate? Probate is a court process to administer a deceased person’s financial affairs Required when someone passes away with assets in his or her own name or fails to name a beneficiary

12. Why avoid probate? Probate is a public process so anyone can access information on your assets and your beneficiaries Probate process can exacerbate otherwise tense family situations

13. Why avoid probate? Probate can be costly to administer (between 3-8% of your estate) Probate process takes time to complete (6-9 months)

14. What does the estate planning process look like? Sent information about estate planning and a questionnaire Attend a meeting that we discuss your goals and the types of estate plans

15. What does the estate planning process look like? Prepare and send to you a draft of the estate planning documents Review documents and call with questions or changes

16. What does the estate planning process look like? Attend a signing conference May need to change beneficiaries on life insurance and retirement plans or/and fund your trust

17. What are the most common estate plans? Basic plan includes wills (potentially with a trust) and powers of attorney For clients who have young children and are not concerned with avoiding probate

18. What are the most common estate plans? Other plan includes a living trust, pour-over wills, and powers of attorney Plan is designed for clients with grown children and who desire to avoid probate

19. Questions……

20. Thank You P. Haans Mulder Cunningham Dalman, P.C. (616) 392-1821 phmulder@holland-law.com www.holland-law.com