Are your parents retired? Have they planned out the future for their estate or family business? Whether you need to draft a Will, prepare a Succession Plan for the future of your business or simply understand how to hold your property in a Living Trust, this workshop will cover all that you need to know and more.
Come join us as we Plan your Family legacy. We will also have a Ugly Sweater Contest.
What we will cover:
How to make a will. In a will, you state who you want to inherit your property and name a guardian to care for your young children should something happen to you and the other parent.
Protecting your business. If you’re the sole owner of a business, you should have a succession plan. If you own a business with others, you should have a buyout agreement.
What is a trust? If you hold your property in a living trust, your survivors won’t have to go through probate court, a time-consuming and expensive process.
Benefits of a financial power of attorney. With a durable power of attorney for finances,you can give a trusted person authority to handle your finances and property if you become incapacitated and unable to handle your own affairs.
Understanding estate taxes. Most estates — more than 99.7% — won’t owe federal estate taxes. For deaths in 2015, the federal government will impose estate tax at your death only if your taxable estate is worth more than $5.43 million. (This exemption amount rises each year to adjust for inflation.)