Wealth Preservation, Trusts and Estates

Estate Planning Seems Hard, Costly, and
Time Consuming?

Can Estate Planning Be Any Easier?

Many recent polls have concluded that
fewer than half of all adult Americans (44%)
even have a will much less an estate plan that
coordinates wills and assets to achieve what
they really want.

And, many Americans responding to a recent
AOL online poll said that they were more
concerned about maintaining their weight
than in doing a will.

Yet, almost 75% of those
polled said that
they should have a will.

In other words, we all know
we should but most of us don’t

-or if we do, they are out of date.

So what’s the problem?

Why don’t people
get to signing and updating their wills
and estate plans especially when the failure
to do it right can be so costly?

And, if the process is too hard, is there
an easier way to get it done the right way?

Here are the answers to a few of the most
important questions that families need
to ask about the ease and effectiveness of
estate planning and about how and why to
get it done.

Why don’t American families get to estate
planning even though they know it needs to
be done and they want to protect their heirs?

Again, according to the polling data Americans
say that they are too stressed about their day
to day activities to get that will done, AND
the process seems too complicated.

According to the survey, most families
whether affluent or moderately well to to agree,
“It Has To Be Easy.”

Why not use the internet?
Isn’t it safe and easy?

Most Americans still don’t trust the internet
for something this personal and complex.
And, internet based programs are often
not much less expensive than a lawyer when you
add up all of the smaller charges.

Finally, such programs do a bad job of helping
people with sophisticated needs to coordinate
their  documents, assets, and trusts in a cohesive
and easy to understand system.

Well, as lawyers who spend their lives helping
people to complete their wills and estate plans
including wills, trusts (when needed),
powers of attorney, medical powers, living wills
HIPPA authorizations, and all of the essential stuff
that makes life easy for our surviving heirs, reduces taxes,
protects them from law suites and divorce and many
other risks, we listen.

It’s now easier than ever to get a simple estate plan
or a complex trust based estate plan in force from
a lawyer who meets with you personally, customizes
your plan and helps you to structure and to coordinate
your assets to make the plan actually work.

The truth is, we haven’t really had to make too many
changes to achieve these goals for our clients.

For years, our clients have been raving about
our proprietary process.  And, while it may take a few weeks
to get an appointment (because we are client friendly and
good at what we do), the whole process for most people -
from start to finish- only takes two appointments and a
a few minutes to fill out some paper work and to
answer some well thought out questions.

Do many affluent clients and families take longer?
Sometimes.  But usually, they get the basic planning
in place within a few weeks and with a few appointments.

In fact, even clients who use advanced techniques
such as Irrevocable Trusts, GRATs, and Qualified
personal residence trusts to move assets out of their
estates for tax purposes often get these done in a short
amount of time.

And, the savings and protection can be substantial.

Do some families require more meetings or a
family meeting?

Sometimes families with closely held businesses or family
vacation homes will need or request an extra meeting and/or
one of our famous family meetings.  When family
meetings are used they usually help to improve the result
and help the next generation to understand and to more
easily do what needs to be done when the time comes.

Family meetings can involve as much or as little
financial detail as you want to share but they are
great at eliminating family disputes and the delays,
costs, and problems that arise when no one knows
what to do.

How does your process ensure that we get an
estate plan or will customized to our family’s needs
and goals at a fair price?

Well, a “fair price” is in the eyes of the beholder.
But, we don’t want or expect you to take a chance that
what we think is fair seems too high to you.

So we offer prospective clients the ability to meet with us,
to hear all the options, and to get a flat fee in advance for all
of the specific planning that they have selected. There is
no fee for that consultation.  We take all the risk.

How can we do that?  The truth is that almost everyone
who has one of those appointments hires us.

We know, from listening to clients that this
removal of risk makes for a trusting and effective
relationship right from the start.

And, if you want to know more before you start
working with us, you are also free to review our
extensive library of informative
reports, videos and articles on our two sites:

http://www.utbf.com/trust-estate

and

http://www.PaEstatePlanners.com

Watch, listen, and read what we write and produce
on a variety of topics and judge for yourself and
read what clients and other lawyers say about us
on rating services such as AVVO.com.

Want to read what other lawyers say about Dave?
AVVO Peer Comments* See notes below.

You can also see that David Frees has been a
“Top Lawyer” in the Main Line Today’s rating
of Trust and Estate lawyers, and that he has been
a SuperLawyer for many years.

How much homework is required?

We have created, based on over 25 years
of client appointments and experience, a
document – sent to you before your appointment -
that will walk you through the most important things
that you need to think about.  After your appointment,
we’ll review what  needs to be done and what you want
to do or what you want the lawyer to do for you.

If you’re so experienced, then isn’t this
very expensive too?

In the Trust, Estate, and Wealth Preservation
Section of the firm, this is what we do every day.

We invest hundreds of thousands of dollars
in software, training, and hiring of talented
people that make up the team that helps you.

Paralegals, an effective system and a focused
practice allows us to offer services that are
often very reasonable or appropriately expensive
depending on how advanced and sophisticated your
estate planning needs may be.

But, you’re never surprised by a bill
because you get to select your specific planning
tools and you always know, before you commit
to any costs, exactly what the fees will be.

I hope that this helps you to move out
of the majority of Americans who have no
will or an old and defective estate plan and
into the elite group of families and individuals
that have estate planning that will accomplish your
specific goals.

For a copy of our copyrighted Enhanced
Estate Planning Questionnaire or
any of our consumer reports or Affluent
Family Series of Reports, call 610-933-8069
or email dfrees@utbf.com.

For more reports and information call
David Frees at 610-933-8069.

*Please note, that at least one person mentions
the word “expert” when referring to David as a
trust and estate lawyer.  However, while this
is not true in all states, Pennsylvania lawyers
may not refer to themselves as experts in any field.
David limits his practice to trusts and estates but
wants to inform you that their is no such thing
as a trust and estates “expert,” in Pennsylvania.

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Guardianship allows a person to manage the affairs and assert the rights of another person who is unable to do these things.

There are two common ways in which a guardian is appointed:

• For an adult who is incapacitated. The person might be in a coma from an injury or they might be suffering from dementia. Usually this is done by the court but you can do it if it’s in advance in a well drafted Power of Attorney.
• As summer fades and school approaches please read our article on Why Your College Student Needs a Power of Attorney before they leave for school.

• For minor children. If both natural parents die or become incapacitated and they have minor children, a guardian will be appointed by a court for the children. However, parents can also appoint a guardian for minor children in their will.

In this article we will examine the issue of Guardians for Minors. When one parent dies or is unable to act and there are minor children, the surviving natural parent is the guardian of the children. If you die leaving children from a previous relationship, unless that parent’s custodial rights have been terminated by a court that parent will probably be appointed the guardian of the children.

It is so important for you to indicate by will who you would want to act as your children’s and your guardian. Without this vital designation, the court will decide.

How to Appoint a Guardian

-For Your Minor Children-

If you have minor children, you should nominate a guardian for them and yourself in your will. Remember the other parent may not survive you. If neither natural parent of minor children survives or is available, the courts will appoint a guardian. Although the courts are not required to appoint the person you nominate in your will as guardian, they place great weight on the parent’s selection. Make sure you do this.

Who Should You Choose as a Guardian

In naming a guardian for yourself (under a power of attorney) and your children (under your will), there are several important points to keep in mind:

• The guardian should be a person who is well equipped to handle the situation from making important medical decisions to rearing children and or to  providing a stable and nurturing home life for your children. Make sure the person you pick has the ability to take on these emotional situations and that they will be able to co- update with trustees managing your funds for your children.

• Will he or she be able to financially cope with the burden of additional children or the incapacitation of their loved one? It might be wise to provide assets through your will or life insurance to bear the expense of raising your children and care for incapacitation.

• You should try to select someone close to your age.  Your parents may be excellent grandparents but they may not be able to follow through with the at time difficult job of being a Guardian (they may be in nursing home care at that time).

• Check with the person you want to name as guardian to make sure they are willing to take on the responsibility of being a Guardian. It may also be a good idea to have a backup Guardian so if at the time they are needed (which hopefully is NEVER)  they are unable you have planned a backup.

• Naming a husband and wife as co-guardians can get complicated. You do not want to place your children at risk of being fought over in a divorce custody battle. It is better to nominate the person you would want your children to reside with like your sister or brother and not that person’s spouse as well.

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There are many families blending children from multiple marriages. The children from these families often range widely in ages.

Parents I meet with often want to provide for only the younger children until they reach a certain age. Their belief is typically that the younger children have greater needs and should have the benefit of great financial assistance. When developing this plan we have to weigh the need to provide for the younger children against the desire to ultimately share the family assets equally among all of the children.

One suggestion is the Sprinkle Trust. This trust would be established under the will of the second decedent spouse. The trust, through a named trustee, would benefit only the named “younger” children until the youngest reaches an appointed age often in the early twenty’s. The trustee can pay for expenses for the named children’s health, support, maintenance and education. After the youngest child attains the appointed age, the Sprinkle Trust will then split into equal shares for each of the older and younger children. The assets after the split can either be paid outright to a child or can be maintained as a separate trust for each beneficiary.

The Sprinkle Trust is only one planning opportunity and is not one that solves the planning issues for all families. Second marriage planning can be very complex and should be reviewed with experienced planners and advisors.

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Has Marcellus shale changed the issues faced by your family?

Do you want or need better sources of neutral information on the
issues you now face?

Families with mountain property, vacation homes, and hunting camps
located in regions rich in marcellus shale gas deposits are now faced
many difficult decisions ranging from:

* How will the drilling and fracking effect use of the land?

* Restoration of the family land and related water issues

* How to own the land and pass on the land or gas revenues, and
many related issues

* The use of trusts and other tools to minimize expenses and
taxes

Penn State has been developing information resources for
Pennsylvania residents, government, and the gas industry.

For more information on Marcellus shale resource through Penn
State, click here.

The actual Penn State Site and Source for Marcellus shale information.

For information about free well water testing click here.

For More Estate Planning Options Related to Marcellus Shale,
call 610-933-8069 and mention Marcellus Shale offer code 2011
for a free estate planning consultation with one of  our estate
planning or business section lawyers.

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Delaying Estate Planing For Law Changes?  Does That Make Sense?

DO You Delay Other Acts of Love and Responsibility?

Gifts To Children and Grandchildren in 2011

Well, you’d expect lawyers who make
a living advising affluent clients
on issues of estate planning to be biased.

They’ll tell you to do it now.
Why wait?

Well, as it turns out, there are few good
reasons to delay and many great
reasons to get the job done now.

When done right, thoroughly, and with the right tools, estate planning
is, plain and simple, an act of love.  It really matters only if you want to
preserve your legacy and to make life better, and easier for those you leave
behind.

But I’m a trust and estate lawyer so you’d think that I would feek that way.
As it turns out, this reporter also thinks that way and review the issues
involved in effective estate planning and why delay makes no sense.

Click here for Delaying Estate Planning Is Never A Good Idea.

Want To Protect Your Spouse, Children and Grandchildren?

Call any time between April 15th and June 1st to get this
limited time Family Plan pricing.

For a limited time, now that tax season is over we will be offering
estate planning family programs.  You can get your own plan, a family
meeting (by phone or in person) and gift certificates for your heirs
to get their own estate planning done.

If you and one or more of your children and grandchildren live in
the state of Pennsylvania, this Family Plan Program might be
just what the estate planning “Doctor” ordered.

Want your spouse to stop worrying?  Want to protect your heirs
from divorce or lawsuits?

Want to mimimize taxes, trouble, and expenses if you die?

Want to make sure that your adult children do the same for your
grandchildren?

CALL 610-933-8069 and ask for David Frees to review your
estate planning and the terms of our Business Class, First Class
and Family Plan Estate Planning options

You can also email dfrees@utbf.com to request a free telephone
consultation or appointment to get one of the limited spots available
until June 1st.

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Many spouses express fear and grave concerns that they would not
know what to do if a spouse or loved one dies.  They are terrified
when you don’t have a will, trust, or estate plan and a list of
people and instructions to guide them.

And, if you are the primary bread winner and/or have responsibility
for handling finances or investments, then this fear and concern can
be even more profound.

And you, like many clients are justifiably so busy with work, paying
tuition, mortgages, and in some cases the demands of running a
business, professional practice, or corporation that you just can’t
find the time to get to a will, trust, or estate planning.

But, deep down you know that getting this done is a reasonable
request by a spouse.

And, you certainly want to protect yourself, and your minor or adult children.
If you have just been waiting for a way to make this happen that is easy,
methodical and turn key then your wait is over. And the price is a fixed
fee.

David M. Frees III on Wills, Trusts, Estates and Estate Tax

Find our more about our risk free, simple, easy, and refreshingly effective
estate planning by clicking one or more of our programs:

Enhanced Estate Planning (TM) (for basic family needs) which
also can include our Elder Law Solutions for those facing nursing
home care.

Business Class Estate Planning(TM) (for those with businesses,
professionalpractices or more complex planning needs), and

Our premier First Class Estate Planning (TM) (for families
planning to pass on substantial wealth, complicated business or
real estate interest or for those with major philanthropic goals).

You can also schedule a risk free appointment for any one of these programs
or to find out which is right for you.

Simply call 610-933-8069 or contact David Frees at dfrees@utbf.com
and ask for your free materials and a no risk appointment with David Frees or
Douglas Kaune and mention the New Year’s Resolution Offer.

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Are you are a business owner or professional, a real estate investor or
entrepreneur who has been putting off your estate planning because
it’s too time consuming, costly, or complicated?

Have you been promising a spouse, children or other loved ones that
you’re going to “get around to” this but just never do?

Has it been more than five years since your last business and estate
planning?

Do you believe that the changes to the federal estate tax law will now
automatically protect your family and spouse?

If you answered yes to any one of these questions, then you’re probably
ready to hear about moving up from coach to a Business or First Class
Estate Plan(TM).

To us, that is planning that respects that you’re a busy person with many
people relying on you.  That you demand a high ROI from whatever you
are spending time doing,and that you need services that are efficient, with
limited or no risk and that will work to carry out your goals with a high
level of accuracy and at a reasonable price.

Well, you just don’t get that with a coach class ticket or a simple will.

My partner Douglas Kaune and I have developed a plan to help busy
business people just like you. To find out what we can do for you, and
to upgrade your estate planning from “coach” to our Business Class Estate
Plan or our First Class Business Plans(TM) call 610-933-8069.

Mention: Business Class Estate Planning to claim your no cost
and no risk consultation and flat fee pricing.

If you’d like to read a bit more about our
estate planning programs, click here

David Frees is a Pennsylvania lawyer with offices in Malvern,
West Chester and Phoenixvillle Pennsylvania.  His practice is
limited to trusts, estates, wills and probate and related matters
such as elder law and asset protection for your heirs.

He is a Super Lawyer and has been recipient of Main Line Today
Magazine’s Top Lawyer honor for multiple years.  He is the
developer of Business Class Estate Planning and First Class
Estate Planning (TM) which are both designed for families and
individuals who expect high return on their investment of time
and money and who want to pass on family wealth and
values.

He can be reached at dfrees@utbf.com or by calling 610-933-8069.

Mention Business Class or First Class Estate Planning for your no
obligation and no cost consultation.

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Do End Of Year Gifts To Children and Grandchildren Still Make Sense?
By: David M. Frees III

In the last few days of 2010 Congress passed, and the president signed, a new bill governing federal estate and gift taxes.

Since we are so close to the end of a calendar year, many people are calling and asking whether or not to make their traditional end of year gifts.

General Thoughts On Gifting and Gifting Before The End of 2010

In general, you should not make gifts that will negatively impair your personal lifestyle. This is especially true when you are retired and on a fixed income.

However, many clients find that they are fortunate enough to be building estate value even though they are comfortable in their retirement. In these cases, or even in cases of smaller estates, where you want to preserve assets and protect them from the nursing home spending, gifts may be a valuable end of year planning strategy.

This article deals predominantly with gifts where you have sufficient funds to avoid medicaid and nursing home issue. If you desire to protect
your assets from nursing home costs, click here.

For those who want to continue making gifts to family members, there is some very good news in the new estate tax law.

Here is a quick review of the new federal estate tax law and rates.

Strategies For End of Year Gifting and Gifts in 2011:

Since the federal estate tax rate will be the same for the next 2 years, and since five million dollars will be covered and tax free at death (or even during lifetime) for those same two years (before we fall back again to only $1 million dollars) large gifts do not need to be made before the end of 2010 unless very large gifts are being made to grandchildren.

Annual gift tax exclusion gifts (currently $13,000.00) per person can be made before December 31st and again after January first (for 2011) without using any of your lifetime or death exemption. Note that this amount might adjust again in the future.

These annual gifts can be made to children and grandchildren and can be made to the spouses of your children and grandchildren as well. If you are married, both you and your spouse can make these gifts and effectively double the amount that can be given without filing a gift tax return or paying any tax.

In addition, greater amounts can be paid directly to a school or for medical purposes in certain circumstances as well.

In short, make gifts of up to the $13,000.00 per person annual gift tax exclusion amount before the end of the year. In 2011 gifts in excess of this amount will either be taxed (at the historically low rate of 35% for the next two years)

Since the effectiveness of gifts can vary widely from person to person, and because there are better and worse ways to make gifts depending on your personal circumstances ask your lawyer and/or tax adviser to consider your personal facts and circumstances when advising you on the use of gifts, paying up insurance policies, or the use of trusts, annuities, and other gifting strategies.

David M Frees III
Unruh, Turner, Burke and Frees
Offices serving Malvern, Phoenixville, Devon, Wayne, West Chester,
Chester Springs and many surrounding communities.

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Do End Of Year Gifts To Children and Grandchildren Still Make Sense?
By: David M. Frees III

In the last few days of 2010 Congress passed, and the president signed, a
new bill governing federal estate and gift taxes.

Since we are so close to the end of a calendar year, many people are
calling and asking whether or not to make their traditional end of year
gifts.

General Thoughts On Gifting and Gifting Before The End of 2010

In general, you should not make gifts that will negatively impair your
personal lifestyle. This is especially true when you are retired and on a
fixed income.

However, many clients find that they are fortunate enough to be building
estate value even though they are comfortable in their retirement. In these
cases, or even in cases of smaller estates, where you want to preserve assets
and protect them from the nursing home spending, gifts may be a valuable
end of year planning strategy.

This article deals predominantly with gifts where you have sufficient funds
to avoid medicaid and nursing home issue. If you desire to protect
your assets from nursing home costs, click here.

For those who want to continue making gifts to family members, there is
some very good news in the new estate tax law.

Here is a quick review of the new federal estate tax law and rates.

Strategies For End of Year Gifting and Gifts in 2011:

Since the federal estate tax rate will be the same for the next 2 years, and
since five million dollars will be covered and tax free at death (or even during
lifetime) for those same two years (before we fall back again to only $1 million
dollars) large gifts do not need to be made before the end of 2010 unless very
large gifts are being made to grandchildren.

Annual gift tax exclusion gifts (currently $13,000.00) per person can be made
before December 31st and again after January first (for 2011) without using
any of your lifetime or death exemption. Note that this amount might adjust
again in the future.

These annual gifts can be made to children and grandchildren and can be made
to the spouses of your children and grandchildren as well. If you are married,
both you and your spouse can make these gifts and effectively double the amount
that can be given without filing a gift tax return or paying any tax.

In addition, greater amounts can be paid directly to a school or for medical
purposes in certain circumstances as well.

In short, make gifts of up to the $13,000.00 per person annual gift tax
exclusion amount before the end of the year. In 2011 gifts in excess of this
amount will either be taxed (at the historically low rate of 35% for the next
two years)

Since the effectiveness of gifts can vary widely from person to person, and
because there are better and worse ways to make gifts depending on your
personal circumstances ask your lawyer and/or tax adviser to consider your
personal facts and circumstances when advising you on the use of gifts,
paying up insurance policies, or the use of trusts, annuities, and other gifting
strategies.

David M Frees III
Unruh, Turner, Burke and Frees
Offices serving Malvern, Phoenixville, Devon, Wayne, West Chester,
Chester Springs and many surrounding communities.

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Are Your Pets in Your Estate Planning?

Are Your Pets – horses, cats or dogs included in your estate plan? If you have horses, cats, dogs or other pets with long life spans, it might be time to include those pets in your estate planning.  Pets in estate plans are often thought of as an estate planning activity of the rich and famous, but many Americans now purchase pet health insurance, pet vacations, pet day care and many other luxuries for their beloved animals.

So, it’s only rational to make provisions for your pets in the event of your death.

Estate planning for pets can range from the very simple to the very complex and from very inexpensive to more costly arrangements.

From simple to more complicated here are a few points to consider:

1) The Informal Memo Option -At the very least, consider putting together a memorandum to your executor and/or family members suggesting the disposition of your pets.  In this case, where no financial provision is being made for the pets and their care, it is often advisable to discuss the plans with the friends or relatives involved to ensure that they will, in fact, take on the responsibility. In any case, a memorandum that sets out instructions is still always a good idea.

Equine trusts in your estate plan

What something more complicated but more certain?

2) The Outright Gift Option – Consider a bequest to heirs or others who agree to care for one or more pets.  Remember, selection of such care takers is important where there is a flat and outright bequest sine there is no way of knowing how long the responsibility will last.  For that reason, and given the high cost of equestrian care, many horse and other pet owners prefer a gift to a trust where the trustee can ensure that care givers get what they need to Providence continuing care at the right level anticipated by your trust and in your memorandum of instructions.

3) The Trust Option – First, be aware that not all states permit a trust for pets and animals. Pennsylvania and thirty one other states have, however, adopted such a law.  Next, review the issues such as: identifying your pets (the ASPCA site even suggests DNA identification), identifying a caretaker and trustee.  A memorandum to the trustee and care takers with specifics about your pets needs, and your desires for care can be vital. Finally, determine how much will be needed and who gets the balance at the death of your pet or pets.

For more on these issues and equestrian issues watch for more articles.

Attorney David M. Frees III - Pets, Horses and Estate Planning and Trusts

By:  David Frees – Attorney

For more information on estate planning and trusts for horses, and pets, call at  no obligation for a consultation with David M Frees III.  David’s practice focuses on trusts, estates, and related pet and equine issues in estate planning. dfrees@utbf.com

610-933-8069

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