Centennial Community Education

What is estate planning and why is it crucial? This class explores the purposes for estate planning; basic plans for married couples and single individuals; and reviews wills and trusts in detail. Also reviewed are power of attorney, guardianship, health care directive and the probate process. A well-planned estate will allow the maker to stay in control even in the event of disability and will avoid probate and unnecessary fees and delays upon death.

Planning for Medicare is intimidating. If you or a family member is nearing the age of 65, you should plan to attend to learn the basics of what Medicare is, how it works, how to avoid penalties, and what you need to know to prepare yourself for this process.

This is a relaxed and friendly open-forum seminar for participants with a seasoned Will & Trust attorney. You may have questions like: Should I avoid probate? Is a Will good enough? Do I need a Trust? How does my plan deal with a nursing home? How do we gift the assets of husband and wife? What about separate assets not of the marriage? If I am alone, what tools will protect me best? How do I decide who should serve in my estate plan? What is the death tax? How do I avoid leaving a mess for my children? Which Trust is best for my needs? Can I use a Transfer-On-Death Deed? How do my retirement assets operate in my Will or Trust? All questions will be answered.

A vital part of every retirement or resettlement discussion involves the roadmap of issues that help us decide where we want to call home. Is it taxes, the political landscape, the weather, the location of family assets, debt or income concerns in retirement, cost of living, health concerns, or our friends are already there. When should we start this conversation? Did you know how many states do not tax Social Security, pensions or other qualified retirement income sources? Which are the worst states for estate taxes? How do we establish a domicile? How about quality of medical resources and retirement facilities, who is good, who is not so good? All these issues will be raised and discussed in an open and friendly manner with questions encouraged.

A Trust is a very popular component and tool to be used in our estate planning. However, there are a variety of vastly different Trust options to be used, and the question arises: "Am I using the right Trust for my needs and goals?" Trusts often used include: Living Trusts, Testamentary Trusts and Irrevocable Trusts, each serves a different purpose, each has a different result. One common problem that often needs addressing is the over-utilization of the Living Trust for goals or problems that it does not resolve. For example, "Does my Living Trust protect my assets against Medicaid and the nursing home?" The answer is probably no. The Irrevocable Trust and the Testamentary Trust each have their strengths and weaknesses as well. We will clearly define the strengths and weaknesses of these different types of Trusts and when to use them. Explore your goals and wishes to see where they fall in the realm of Trusts. Class encourages questions and we hope to provide answers that will set your mind at ease or assist you in the decision making in this area.

Participants should be comfortable using a computer with some typing ability. Prepare a valid will on a computer and learn about probate, estate planning, and wills. Some prep work required; packet will be sent prior to class. NOTE: This is a "simple will" class, not appropriate for those who have assets more than one million dollars or who need a Trust as well. Couples must register individually.