family and estate planning in vermont
DESCRIPTION
This presentation talks about the many changes that affect family through the years and its impact to family and estate planning in Vermont.TRANSCRIPT
![Page 1: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/1.jpg)
FAMILY & ESTATE PLANNING IN VERMONT
The Many Changes that Affect Families Through the Years
![Page 2: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/2.jpg)
HUMAN NATURE AS A REASON WHY WE AVOID ESTATE
PLANNING
![Page 3: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/3.jpg)
There are many reasons people avoid estate planning
![Page 4: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/4.jpg)
It’s uncomfortable
It’s intimidating
We don’t understand the legal jargon
Past experiences with lawyers only confused us more
![Page 5: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/5.jpg)
It’s uncomfortable
It’s intimidating
We don’t understand the legal jargon
Past experiences with lawyers only confused us more
![Page 6: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/6.jpg)
It’s uncomfortable
It’s intimidating
We don’t understand the legal jargon
Past experiences with lawyers only confused us more
![Page 7: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/7.jpg)
It’s uncomfortable
It’s intimidating
We don’t understand the legal jargon
Past experiences with lawyers only confused us more
![Page 8: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/8.jpg)
The New American Family
![Page 9: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/9.jpg)
Modern family dynamics makes it even more important to
ensure estate planning is a priority
![Page 10: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/10.jpg)
New marriages
Step-children
Same sex marriages
![Page 11: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/11.jpg)
New marriages
Step-children
Same sex marriages
![Page 12: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/12.jpg)
New marriages
Step-children
Same sex marriages
![Page 13: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/13.jpg)
Marital Deductions
![Page 14: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/14.jpg)
A favorite tool for estate planning
![Page 15: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/15.jpg)
A favorite tool for estate planning
It must be right, or else, higher taxes could be the result
![Page 16: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/16.jpg)
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
![Page 17: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/17.jpg)
Gross estate is calculated after the estate executor takes over
![Page 18: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/18.jpg)
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
![Page 19: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/19.jpg)
One especially important benefit is the absence of marital deduction limits
![Page 20: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/20.jpg)
Estate taxes can be eliminated in their entirety by
leaving the whole estate to the spouse
![Page 21: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/21.jpg)
It’s not always the answer though; marital deductions defer taxes,
NOT ELIMINATE THEM
![Page 22: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/22.jpg)
Outside Factors that Must Be Considered
![Page 23: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/23.jpg)
The recession changed everything
Unemployment is still high
Foreclosures are still problematic in most states
Lawmakers have few answers
![Page 24: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/24.jpg)
Other Questions We’re Asked
![Page 25: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/25.jpg)
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?
![Page 26: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/26.jpg)
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?
![Page 27: Family and Estate Planning in Vermont](https://reader034.vdocument.in/reader034/viewer/2022052522/554c3325b4c905191f8b53f3/html5/thumbnails/27.jpg)
Want to Know More About Family and Estate Planning
in Vermont?