ESTATE PLANNING

Avoiding  Costly    

Mistakes  

Kevin Lake ���A t t o r n e y & C o u n s e l o r a t L a w

Kevin T. Lake ���A t t o r n e y & C o u n s e l o r a t L a w

Practice Areas

Estate  Planning  

Family  Juvenile  

Li9ga9on  

•   Wills  &  Trusts  •   Probate  

•   Adop9on  •   Custody  

•   Civil  •   Criminal  

What is Estate Planning?

  Protect  the  people  you  care  about  aBer  you  have  gone.  

  A  systema9c  process  for  the  accumula9on,  conserva9on  and  distribu9on  of  an  asset  porFolio.  

Is Probate Bad?

   Disburse  Estate  

   Costly      Slow      Public  

Fast Lane to Probate

Procras9na9ng  •  •  •  •  •  

DIY  •  •  •  •  •  

Will    

But that is not all….

The  Joint  Tenancy  Trap    Control    Liability    Tax  (GiB,  Estate  &  Income)  

This is not enough

Limita&ons    BeRer  than  Joint  Tenancy    Limited  Control    Inflexible    Disinheritance    Under  age    No  planning  for  disability    

Transfer  on  Death     Beneficiary  Deed  

Who Loves Paying TAX?

  Estates  valued  $5.12  million  35%  

  Estates  valued  up  to  $1  million  or  more  55%  from  2013  

4 Levels of Protection

Revocable  Living  Trust  

Pour-­‐Over  Will  

HEALTHCARE  Power  of  ARorney  

DURABLE  Power  of  ARorney  

“LIVING” Trust

  Review  it      Update  it    Keep  it  safe  but  accessible  

  Life  Events    Births,  Marriages,  Deaths,  Illness,    

Estate Planning

 Protect  loved  ones   Avoid  probate   Avoid  tax  

Questions?

What  is  the  price  of  peace  of  mind?  

Kevin  T.  Lake  ARorney  &  Counselor  at  Law  

     2  Mee9ngs       An  estate  plan  to  meet    your  budget