2012 Annual Client Education Conference Call I.

The conference facilitator will dial in several minutes prior to the scheduled call and will: a. Press *8 to turn off entry/exit tones b. Announce periodically that the call will begin in ___ minutes

II.

TAF PRESENTERS SHOULD DIAL INTO 712-432-0800, ACCESS CODE 663946* FROM A LAND LINE A FEW MINUTES PRIOR TO THE CONFERENCE BEGINNING (NOTE THAT THERE IS AN * AT THE END OF THE ACCESS CODE – NOT THE # KEY). USE THE MUTE KEY ON YOUR SHORETEL PHONE WHEN YOU ARE NOT SPEAKING. PLEASE BE IN AN AREA THAT IS QUIET AND WHERE YOU ARE COMFORTABLE. PLEASE SILENCE YOUR CELL PHONE. DO NOT BE SHUFFLING ANY PAPERS. WE WILL BE RECORDING ALL SESSIONS FOR PLACEMENT ON THE WEB AND OTHER AREAS. THIS IS IMPORTANT.

III.

Other TAF participants who are dialing in to listen to the call but will not be speaking should dial into 712-432-0800, Access Code 663946#. By pressing the # key at the end of the access code you will be admitted to the conference as a general caller and will be muted along with all other callers during the presentation.

IV.

Welcome (Facilitator) When it is time for the call to begin, the conference facilitator will announce/do the following: a. Advise that there are a few housekeeping announcements b. Explain we will be muting the call and why c. Mute all listeners (*5) d. Explain that instructions on unmuting will be provided at the end prior to the Q&A e. Suggest listeners keep notes of any questions that come to mind f. Explain we will be recording the call and why g. Begin recording (*9) h. Introduce WEA and turn the call over to him

V.

Client Continuing Education a. Overview of Foundational Estate Planning (Rack Card) (JKS) b. Overview of Planning for IRAs and Other Qualified Assets (Rack Card) (JKS) c. Uncle Sam’s Six Options for Paying Estate Tax (Rack Card) (JKS)

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d. Gift & Estate Tax Reform: 2012 Estate Planning, Tax Updates, Exemptions and Rates: (JIM) Changes to Estate Tax, Gift Tax & Generation Skipping Transfer Tax Laws 1. Indexes estate tax, gift tax and generation-skipping transfer tax exemptions for inflation in 2012. The estate tax, gift tax and generation-skipping transfer tax exemptions have been indexed for inflation for the 2012 tax year such that each

will be increased from $5 million to $5.12 million beginning on January 1, 2012. No one in the estate planning community expects this change to stay in effect past the beginning of 2013. We anticipate the exemption to go to $3.5 million per person.

2. "Portability" of the federal estate tax exemption between married couples. In 2009 and prior years, married couples could pass on up to two times the federal estate tax exemption by including "AB Trusts" or "ABC Trusts" in their estate plan. TRA 2010 eliminates the need for AB Trust planning or ABC Trust planning for federal estate taxes by allowing married couples to add any unused portion of the estate tax exemption of the first spouse to die to the surviving spouse's estate tax exemption. This will effectively allow married couples to pass $10 million on to their heirs free from federal estate taxes with absolutely no planning at all; however, note that the surviving spouse must file IRS Form 706, United States United States Estate (and Generation-Skipping Transfer) Tax Return, in order to take advantage of the deceased spouse's unused estate tax exemption. Also note that portability was not applied retroactively to January 1, 2010. Aside from this, as it now stands portability is only available for deaths that occur during the 2011 and 2012 tax years. In addition, without AB Trust or ABC Trust planning, state estate taxes may be due in states that collect them. See more on state estate tax issues below.

3. State estate tax issues. To date, none of the states that collect a separate state estate tax have adopted portability of the state estate tax exemption between spouses, nor have I heard any discussion about portability becoming available in any state. So while portability may be relied on in states that do not collect a separate state estate tax, AB Trust or ABC Trust planning may still be required in states that collect state estate taxes, particularly in states where the couple has a large estate, the state estate tax exemption is less than the federal estate tax exemption, and state law allows for a separate state QTIP election. This will include couples who live in states like Maine, Maryland, Massachusetts, Minnesota, New York, Oregon and Tennessee where the state estate tax exemption is only $1 million, leaving a gap of $4 million in 2011 and $4.12 million in 2012.

4. Generation-skipping trust issues. Unlike the estate tax exemption, the generationskipping transfer tax exemption has not been made portable between spouses for the 2011 and 2012 tax years, nor have I heard any discussion about this becoming a possibility. Therefore, couples who want to take advantage of passing on up to two times the generation-skipping transfer tax exemption to their heirs in generationskipping trusts will still need to include AB Trust planning or ABC Trust planning in their estate plans.

e. 2012 Estate Tax Exemption Amount and Gifting Exclusion: $13,000/$26,000 (JIM) f. The Perfect Storm – Must Do Advanced Planning (JIM)

We are currently in the midst of an “estate planning perfect storm” (in the good sense!) that we’ve not seen before. Specifically, two things are combining right now that make this the perfect time for clients to do additional planning. The urgency is due to the fact that this opportunity WILL pass, and the chance to maximize it WILL be lost if clients don’t act. Here are the two things I want to call to your attention today: 1. We currently have historic lows in the applicable federal interest rates that the IRS provides for us to be used with many of the estate planning tools we employ to help our clients reach their personal, business, tax planning, and family goals. 2. We currently have less than one year left in which clients can use and leverage their ability to transfer up to $5.12 million per person, plus all future growth on that $5.12 million, out of their taxable estate for estate tax purposes.

However, the continuing focus on deficit reduction may well bring changes in the current estate, gift and generation-skipping transfer tax laws even before the end of 2012. Specifically, there is concern that the lifetime gift tax exemption could be reduced from $5 million to $1 million. Clearly, this wrinkle adds even more urgency to the need for planning NOW to take advantage of the estate planning opportunities this current window of time presents. You are perhaps more familiar with the second point above, so let me briefly tell you about the first point. Every month, the IRS releases a Revenue Ruling in which they give us the applicable short-term, mid-term, and long-term (not over 3 years; more than three years but less than 9 years; more than 9 years) federal interest rates that we must use with strategizing and implementing many advanced estate planning tools. The calculations and strategy can essentially be “locked in” with projections based on the applicable federal rate we use at the time the strategy is implemented, though we know the actual performance of the strategy is yet to be seen after it is implemented. One of the most common rates we use from this monthly publication with certain estate planning tools is the “7520 rate,” which is figured at 120% of the mid-term applicable federal rate. With that background, I can now tell you what the “sizzle” is with this first point. The 7520 rate is at 1.4% in January, which is lower than it has EVER been. What this essentially means for us “results oriented planners” is that your client’s estate planning strategy only has to outperform these low rates to be a powerful winner for your client!! Everything above that as life and the estate planning strategy goes on is pure bonus and increase in the power and effectiveness of the strategy. We were more than excited over the last several years when we saw these rates dip into the 3% category. Imagine the power of it being at historic lows like 1.4%! Please note that other estate planning tools we use employ the short-term, mid-term, or long-term rates rather than the 7520 rate, but those are all at historic lows as well. This means that we are looking at one of the most ideal settings in which to consider the following tools, among perhaps others, which will prove to be far more effective and efficient than normal with these historically low applicable federal rates:      

Sales to GDOTs (Grantor Deemed Owner Trusts, also known as Intentionally Defective Grantor Trusts) GRATs (Grantor Retained Annuity Trusts) CLATs (Charitable Lead Annuity Trusts) Private Annuities Intra-family Loans SCINs (Self-Cancelling Installment Loans)



Others

The second bullet point above has to do with the sweeping tax law President Obama signed into law last December 17, 2010. There are many changes in that act, but the two in view here today are that (1) every individual has up to $5.12 million they can transfer free of estate tax at their death, with proper planning, and (2) the opportunity to choose to gift up to the entire $5.12 million prior to their death. In the decade prior to 2010, we watched the amount an individual could transfer free of estate tax at death rise from $650,000 in 1999 to $3,500,000 in 2009. However, as this amount grew past $1 million, the maximum amount a person could gift out of their taxable estate while still alive stayed frozen at $1 million. This changed in December of 2010. Now, for the rest of 2012 only, your client can gift the entire $5.12 million out of their estate during lifetime, removing this amount and all future growth on this amount out of their taxable estate prior to death! This is simply an amazing opportunity, BUT it is temporary. Current law says that in less than one year, after 12/31/2012, this amount will go back to $1 million per person. Thus, your clients now have an approximate 12 month window of time in which to move $5.12 million dollars per person (up to $10.24 million per couple if they haven’t previously done lifetime gifting) and all future growth on this amount out of their taxable estate. If these amounts are left in the estate, we may again see a 55% estate tax apply to these amounts after death. As I pointed out above with the historically low applicable federal rates, some of the strategies your clients should consider during this 12 month window of time are:       

Legacy Trusts (Gifting Trusts for children and other beneficiaries) BERTs (Buildup Equity Retirement Trusts, or Gifting Trusts for spouses) QPRTs (Qualified Personal Residence Trusts or “House Trusts” to move the value of real estate and its future growth out of the taxable estate) ILITs (Irrevocable Life Insurance Trusts) Gifts to Charities Gifts to GDOTs (Grantor Deemed Owner Trusts, also known as Intentionally Defective Grantor Trusts) Others

I told an audience just the other day that I am convinced if I had 1,000 people in a room and took only about 10 minutes to explain this opportunity, the majority of them would choose to take the additional financial and estate planning steps to maximize and leverage this opportunity. We would love the opportunity to talk to your clients and you further about this, and to do so as soon as possible. Don’t be lulled to sleep by the 12 month window. Though we may have that, the historically low interest rates discussed above adjust every month, and WILL adjust upward. The moral of the story: Strike while the iron is hot!

g. Asset Protection Planning (Rack Card) (WEA) i. Goal of Asset Protection Planning The goal of asset protection planning is to change a creditor's economic analysis. In order to properly understand asset protection, one must analyze timing, the creditor, and the specific assets under consideration. ii.

Not About Hiding Assets Asset protection is not about hiding assets. It doesn't work. Private investigators may find the assets. They will be found out in a debtor examination. Perjuring oneself is not a viable option.

iii.

Concepts The first concept of asset protection is that creditors can only go after assets that you actually own. The strategy is to remove title of the asset from the client's name but still allow them to have control and enjoyment of those assets. The way we do this is through limited liability companies and through trusts. With respect to certain limited liability companies, there is no remedy to attach a membership interest. In certain states, the only thing a creditor can obtain is a charging order. The creditor cannot force a distribution. Thus, it makes it difficult for the creditor to get to the asset. This makes settlement much more favorable to the debtor. The second concept is certain assets are exempt depending on the State. For example, Texas, Kansas, Florida, and Nevada have desirable homestead protection. In other States, like Florida, annuities and life insurance are protected by statute and court decision. The third concept is to make assets less desirable. An example of this would be placing liens on real estate. For example, one could create a home equity line of credit from a family member and secure it with a deed of trust.

iv. Better To Do Something It is generally better to do something rather than do nothing. If you do nothing it is almost certain that you will lose the asset. If you do something, you have a much better chance of keeping all or part of the assets.

v. Fraudulent Transfers One must carefully consider whether a court will view a transfer as a fraudulent conveyance to defraud creditors.

vi. Estate Planning and Financial Planning Asset protection is frequently and best done as part of and in the context of an overall estate plan and financial plan.

vii. WY Close LLC & WYDAPT): “Cowboy Cocktail” VI.

18 = Sui-Juris (of your own right): (WEA) On the day a person turns 18 they are legally an adult. What this means in the estate planning context is that their parents can no longer have access to their medical records, represent their interests in court, file an income tax return for them or make other health care or financial decisions for them in the event they are incapacitated. Although 18 year olds may not monetarily have an estate to plan for, it is important for all adults to have health care directives, living wills and other documents in place in order to avoid time consuming and costly guardianship proceedings and other court dealings.

VII.

Should You Remarry or Shack Up? (JOLEEN) After her college professor husband of 46 years died, Betty J. Tucker reconnected with retired insurance salesman Tom C. Clark. She'd met him on a blind date when she was 18. Tucker, 77, and Clark, 78, have lived together without benefit of marriage for eight years now, splitting their time between her Dallas home and his Beaumont vacation property. Their finances are separate. When they eat out, they take turns paying. In 2006, 1.8 million Americans aged 50 and above lived in heterosexual "unmarried-partner households," a 50% increase from 2000, figures Bowling Green State University demographer Susan Brown. Much of that growth is due to the baby boomers passing 50. But it also reflects the problems of blending finances later in life. Ninety percent of older heterosexual live-ins are widowed, separated or divorced.

Get remarried and your future Social Security checks might be smaller. The alimony from your ex, your kids' college financial aid or the survivor's annuity you receive from your late spouse's job might evaporate. "'I hate living in sin. But I guess I must hate living in poverty even more," one woman told Stephanie Coontz, who studies contemporary families as a professor at the Evergreen State College in Olympia, Wash. Coontz notes some couples even choose not to marry in order to reassure adult children that they'll get their inheritances. "My children," says Tucker, "despite the fact that they like Tom don't want any question as to who gets their father's money." If you are thinking about marriage late in life, get out your calculator, law books and tax software. The Government Accountability Office counts 1,100-plus federal provisions, involving taxes, benefits and so on, where marital status has an effect. Here are some problem areas. Estate Planning Even if your will leaves everything to your kids, a second spouse can claim what's known as an "elective share" of your estate--typically a third. (If you don't have a will, read this story) The easiest way to avoid trouble is with a prenuptial agreement in which your spouse-to-be gives up any claim to a share. After you're married, it takes more lawyering to disinherit a spouse. Some unmarried couples should take precautions, too. In the jurisdictions that still recognize "common law marriage", a partner could grab an elective share as a common law spouse. Usually, only longstanding heterosexual couples who hold themselves out as married--say, by filing joint tax returns or using the same last name--will be considered to have entered a common law marriage. But head off problems by signing a joint statement that you don't intend to have one. What if you do want to leave a third or more of your assets to your new partner? Tie the knot. You can leave any amount to a spouse (who is a U.S. citizen) without having the bequest count against the (currently) $2-million-per-person exemption from federal estate tax. Similarly, bequests to a spouse don't count against the exemptions (which are usually smaller than $2 million) in those states that still impose estate taxes. If you've married, you can devote your entire exemption to sheltering from tax what goes to the kids. Alimony and Palimony If you are receiving alimony from an ex-spouse, it will almost certainly end if you remarry and might even be cut off if you shack up--depending on the state where you divorced and your legal agreement with your ex. If you're in the midst of a divorce and have met someone new, bargain to receive more assets instead of alimony checks, says Sheila Riesel, a matrimonial lawyer with Blank Rome in New York City. As for palimony, it isn't just for the rich and famous. If you live with someone and pay most of the bills, there's a danger, particularly in California, that if you split up, your ex-partner could win support payments, says Wendy Goffe, an estate lawyer in Seattle. So sign a cohabitation agreement, just as you'd sign a prenuptial agreement, making clear whether palimony will be paid, and if so, how much. Social Security At retirement age a widow (or widower, but this is mostly a consideration for women) can claim her late husband's full Social Security retirement benefit if it's higher than the benefit she herself earned and she didn't remarry before the age of 60. A divorced woman can also claim Social Security based on an ex-husband's earnings, instead of her own, so long as they were married at least ten years and she didn't remarry before 60. If her ex-husband is still

alive, she gets a "spousal benefit" equal to 50% of his benefit, which is often less than what she'd receive based on her own earnings. If, however, she didn't remarry before 60 and her ex dies before she reaches her "full retirement age" (66 for those born from 1943 through 1954), she can receive his full retirement benefit, even if he had remarried and his new wife is claiming that benefit, too. If her ex-husband earned a high salary, that's probably more than the benefit she'd get based on her own earnings or by claiming a 50% spousal benefit connected to a new husband. Survivors' Annuities Widows and widowers of public employees, including servicemen, police and firemen, can lose an annuity if they remarry. "We see people living together, not remarrying, having children. It helps erode the foundation of marriage," complains Suzanne Sawyer, executive director of Concerns of Police Survivors, a 15,000-family survivors group, which has campaigned, with some limited success, to end remarriage penalties for widows and widowers. The surviving spouse of a military person killed in Iraq or in other duty receives an inflation-adjusted annuity ($1,067 a month in 2007, regardless of rank) but loses it if he or she remarries before turning 57. Survivors of federal civil servants with at least 18 months of service receive an annuity equal to 55% of the pension benefit their late spouse had earned or 40% of his average salary, whichever is more, but forfeit it if they remarry before age 55. Survivors who remarry also risk losing health insurance. College Financial Aid Financial aid is based on the difference between the cost of the college your child attends and the amount (called the "expected family contribution") that colleges feel entitled to gouge out of you. The EFC is calculated one way for federal aid, such as subsidized loans, and another way at some private colleges. If a widowed or divorced parent with primary custody remarries, the feds count the income and assets of the new spouse towards the EFC. The resources of a noncustodial divorced parent aren't counted. By contrast, private schools don't always count a new spouse's earnings and will often count a noncustodial parent's resources (including occasionally his or her new spouse's income and assets) in the EFC. Troy Onink, who runs a college-planning company in Russell, Pa., recently counseled a widow who decided to put off remarriage until her daughter graduated, since she would have lost $14,000 a year in grants. Luckily, the girl didn't go to Sarah Lawrence College, which counts the income and assets of an unmarried partner if the couple has lived together for more than two years and mingled their finances. Nursing Home Costs Only 9% of current 62-year-olds are expected to end up in a nursing home for five years or more and 24% for one year or more. But with nursing home care costing $100,000 a year in many areas, it's something to think about. Most long-term nursing home residents end up on Medicaid, the state-federal program for the poor. If you marry, your income and assets must be used to pay for your new spouse's care before he can tap Medicaid. The well spouse can keep a house but a maximum of only $101,640 in other assets and $30,492 a year in income. "You can't sign away this responsibility in a prenup," warns Bernard A. Krooks, an elder lawyer in New York City who has seen couples live together, rather than marry, because of the fear of nursing home costs. Suppose you marry and then see signs--say early onset Alzheimer's--that your new spouse may need years of care. Can you give your assets to your kids? Last year Congress tightened up the rules so that any gifts made during the five years before your spouse applies for Medicaid will delay his eligibility; if your spouse would otherwise be eligible now, but you've given the kids $200,000 in gifts recently, he won't get coverage for another two years or more, raising the question of how you'll pay the bills in the interim.

What about giving away assets before you get married? Krooks says states might challenge such transfers. Whether they can win isn't clear. States have pursued live-ins for support without success. Income Taxes If your incomes are very different, you may well reduce your combined tax bill by marrying. But upperincome folks with similar earnings still pay a marriage penalty. For example, the 33% marginal rate kicks in at $160,850 of taxable income for singles and at $195,850 for couples. That's not all. Better-off folks are denied lots of tax breaks. Often, a couple loses the goody at less than twice the income level of a single. Carol Kohfeld, 67, lives with a fellow retired college professor in University City, Mo. She's been using a nifty provision that allows a tax filer to withdraw money from an individual retirement account, declare it as taxable income and then roll it into a Roth IRA, where it can grow tax free, potentially for decades. She hopes to leave the Roth to her kids from her earlier marriage. But the rollover maneuver is allowed only if a taxpayer has $100,000 or less in modified adjusted gross income (before the withdrawal). It's the same $100,000 for couples or singles. "If we were married, we'd be over the income threshold," Kohfeld notes. Even moderate-income retirees have to watch out for marriage gotchas; up to 85% of Social Security benefits become taxable when "provisional income" (that's one-half of Social Security, plus other adjusted gross income and tax-exempt bond interest) exceeds $34,000 for a single or $44,000 for a couple. Real Estate Married couples, provided they're both U.S. citizens, can freely transfer property to each other without worrying about gift taxes. That means you can easily make your new spouse a co-owner of your home. Sharing assets with an unmarried partner is trickier. You can give only $12,000 worth of gifts to another person a year without eating into your $2 million lifetime estate tax exemption. And if you're adding your unmarried partner to a deed, you might have to pay a transfer tax (waived for spouses). One solution is to keep property and finances separate. "People in love have this tendency to say what's mine is yours, what's yours is mine," says Kelly Phillips Erb, a Philadelphia lawyer. "That's not always a good idea." If you're buying a house together and want to make sure your partner can keep it after your death, own it as joint tenants with right of survivorship. When one partner dies, the other gets sole ownership (but may owe estate tax). Another approach is to treat it as you would a business transaction. Roger Nyhus, who runs a public relations firm in Seattle, and his partner Rodney Hearne, a biotech technician, bought a fixer-upper Beaux Arts house for $1.6 million in September. His lawyer recommended they go into it as business partners, with the percentage ownership based on each partner's pro rata contribution and with a buy-sell agreement that covers a split-up. Protection for the Unmarried Married couples do enjoy a lot of rights and benefits unmarried folks don't. But as gay couples campaign to get some of these rights, unmarried heterosexual couples are gaining a new option, too: domestic partner registries. Washington is the latest state to adopt a registry. A registered couple can make health care decisions for each other and can inherit each other's property if there is no will. These partnerships shouldn't be entered into lightly, warns Jamie Pedersen, a Washington state rep who pushed the registry and signed up for it with his partner, Eric Pedersen, the first day it was open in July. Domestic registry rights are in flux, with fans of fuzzy marriage pushing legislators to add new rights. So if you sign up for one, keep tabs on what it means.

At the other extreme, laws making it a crime to live together as an unmarried couple are still on the books in six states. As a practical matter, you don't have to worry about criminal charges. But there are still situations where officials--or your ex-spouse in a custody battle--might use the law against you. In 2005 a Michigan court of appeals, citing the state's anticohabitation statute, barred a man's live-in girlfriend from their joint home when his kids from his first marriage visited. After the American Civil Liberties Union appealed the decision to the Michigan Supreme Court, the kids' mom, who had fought for the live-in's banishment, relented.

VIII. Planning for Florida Property Tax Homestead Exemption: (JIM) Those people who became Florida residents in 2012 need to apply for the Florida homestead exemption by March 1, 2013. Those people who were already Florida residents prior to 2012 may need to reapply for the exemption if they purchased a new home in 2012 or if they transferred their existing home into a trust. This is especially pertinent if one spouse passed away in 2012 and the property was transferred to the surviving spouse. If the surviving spouse did not sign the original homestead application they would have to reapply to ensure they continue to receive the benefits the Florida homestead exemption provides. To determine if the homestead exemption is still active on a property, the surviving spouse needs to call the county property appraiser’s office.

IX.

The Andersen Firm Areas of Practice: (WEA) Estate Planning: At the Andersen Firm, we have planned for a vast array of estates ranging in size from a few hundred thousand dollars to a hundred million dollars all the while realizing each specific case is different and requires specialized attention. Estate Settlement: The process of settling an estate can be difficult and emotionally painful for the family and loved ones of the deceased. It is our goal at The Andersen Firm to ensure that the process be handled with compassion, expedience, professionalism and expertise, while protecting the rights of all parties involved. Estate Litigation: Staff recently attended a conference, mistakenly entered the wrong lunch room and heard the speaker declare something to the effect of: "Fellow litigators, I'm pleased to announce the newest burgeoning area of litigation - estate planning and trust and estate administration!" Unfortunately, what I've seen in my own practice has confirmed this sorry state of affairs. Ten years ago, beneficiaries hardly ever "lawyered-up". Now, I find that, in many estate administrations, at least one beneficiary is represented by separate counsel who often turns out to be a litigator, not an estate planning attorney! Many factors have contributed to this. We have outlined below pertinent information for you in regards to Estate Litigation which is also available in our rack card format. Estate attorneys at The Andersen Firm represent beneficiaries, trustees and personal representatives in various jurisdictions dealing with estate litigation and probate litigation matters. A will contest challenges the admission of a will to probate or seeks to revoke the probate of a will that is already pending before the probate court. A similar type of estate litigation can take place contesting the terms of a trust. The most common causes of action in both will contests and estate litigation follow.

1. LACK OF CAPACITY—Under the law, a testator is required to have mental competency to make a last will and testament or trust and to understand the nature of his or her estate assets and the people to whom the estate assets are going to be distributed. A will or trust can be declared void if lack of capacity can be proven. Usually, incompetence is established through a prior medical diagnosis of dementia, senility, Alzheimer’s or psychosis. 2. UNDUE INFLUENCE—When the testator is compelled or coerced to execute a will or trust as a result of improper pressure exerted on him or her, by a relative, friend, trusted advisor, or health care worker, a cause of action arises. In many cases, the undue influencer will upset a long established estate plan where the bulk of the estate was to pass to the descendants or close relatives of the decedent. In other cases, one child of the decedent will coerce the decedent to write the other children out of the will or trust. 3. LACK OF FORMALITIES—Proper execution of a last will and testament or trust requires that the will or trust be signed by the testator and witnessed and signed by two unrelated parties. A last will and testament can be contested on the basis that it was not properly drafted, signed, or witnessed in accordance with the law. 4. BREACH OF FIDUCIARY DUTY—The personal representative of an estate or the trustee of a trust owes the beneficiaries of the estate or trust certain fiduciary duties of honesty,

prudence and loyalty. When those duties are violated by a trustee or personal representative, a cause of action arises. 5. ELECTIVE SHARE—Some states provide an elective share to surviving spouses, which provides the surviving spouse with a portion of the deceased spouse’s estate according to a statutory formula. Deadlines may be associated to make the elective share. 6. FORGED DOCUMENTS—Documents can be forged to create unintentional outcomes with the intent to deceive. When documents appear altered or falsified, a cause of action arises. Asset Protection: For some, putting an Asset Protection Plan in place is advisable in order to attempt to remove the economic incentive to be sued and also to try and increase the ability to force an early settlement in the event a suit is filed. X.

Mail Away Estate Plans: (Rhonda) If a client is in another state, unable to travel, on vacation, a snowbird or any other situation that would prevent them from meeting in with an attorney in person; The Andersen Firm attorneys are able to design, draft and execute estate planning via telephone conference and mail away documents

XI.

TAF Accolades (WEA) Martindale Hubbell - AV Preeminent Rating 5.0 out of 5 New FLL TAF office - July 1

XII.

Turn the conference back over to the Conference Facilitator who will: a. Stop the recording in preparation for Q&A session (*9) b. Provide instructions on how to unmute their phone if a caller has a question (*6)

XIII. Questions & Answers