Hello Everyone,

We hope you are all doing well!

We had a wonderful 2nd Quarter Seminar. Thanks to all of you who registered and were able to attend! We're glad you found the presentation so informative and motivating.

This seminar on Estate Planning covered important options and key points to consider when making decisions for how to plan ahead, for your life - as well as your estate.

Attendees also received an invitation to schedule a complimentary estate planning consultation with Myatt & Bell, P.C.

VALUABLE HIGHLIGHTS

WILLS

Depending upon your situation, a Will may be sufficient for your estate planning needs, but:

• Wills do not take effect until your death
• Wills are public records and subject to probate
• Beneficiaries do not have access to their inheritance until probate is completed
• Probate takes a minimum of a few months, and varies by county. It can last much longer if there are complicated or complex issues to resolve.

TRUSTS

This option avoids probate entirely, and allows your beneficiaries to receive their inheritance upon your death:

• Trusts can be used before and after your death
• Trusts are private and allow you to designate specific terms for the timing, qualifications, etc., for disbursement to each of your beneficiaries
• Revocable Living Trusts allow for asset protection, including some taxes, as well as planning for incapacity while you are still living

POWERS OF ATTORNEY

When planning for possible disablement or incapacitation, setting up a Power of Attorney (POA) allows you to designate a specific person to speak and/or act on your behalf, and ensure that your most important decisions and wishes are followed regarding your health care and finances.

It's important to know that there are two different categories of POA, and two different types of POA options available to you. With this information, you can consider the best choices for your own situation.



CATEGORIES

• Healthcare POA

Authorizes a specific person to discuss your care, and make decisions on your behalf, regarding your medical condition, treatment and care.

• Financial POA

Authorizes a trusted representative to act on your behalf for your financial matters.

TYPES

• Durable Option

This type of POA remains in effect in the event you become

incapacitated. All POA's should be durable.

• Non-Durable Option

This type of POA ceases to be effective at the time of your

death.

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Take-Aways

• Estate Planning can sound overwhelming, but it can save you and your loved ones from avoidable issues and stress - before and after your death.
• Estate Planning is not just to determine the who and what of your legacy when you die. It also allows you to maintain control of your health care and financial decisions while living.
• Hiring an attorney to guide you through the process can be a priceless source of guidance and support, particularly if family issues are involved. Some attorneys charge a flat fee, while others charge by the hour, email, call.
• To schedule a complimentary consultation with a Myatt & Bell attorney, call 503-641-6262

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After the presentation was completed, there was conversation and connection, and many attendees took some time to meet with our Education Partners and learn more about the support and services

they can provide.

We received a lot of positive feedback about this month's topic, and attendees had several questions about Trusts in particular.

Please let us know your thoughts:

Should we schedule one of our 2025 seminars

to focus entirely on the topic of TRUSTS?