Presents

1. ALPHA PHI ALPHA FRATERNITYMu Lambda ChapterBrothers Keeper’s Legal SymposiumOctober 19, 201310:a.m.-12:00 Noon 2405 1st Street NW Washington, DC 20001

2. Presents A Brief Introduction to Wills, Trusts, Estates, Powers of Attorney, and Advance Directives

3. BrothersKeeper’s Committee Presents this program to bring general awareness to (1) steps to help prevent diminution of assets at death and; (2) the need for legal documents such as powers of attorney and advance directives. We hope that after the presentation you with loved ones and legal counsel will work to find ways to preserve your assets and carry out your health-care wishes should you be unable to articulate them.

4. THE BIG PICTURE • The purpose of a Will is to make a transfer of assets upon the death of the estate holder (decedent). • The purpose of a Trust is to instruct the trustee on how to handle/distribute the assets of the trust whether or not the grantor/settler is deceased. • This may make the transfer of assets easier, less expensive, and time-efficient upon the death of the person planning his estate.

5. Generally Accepted Definitions • A Will is a written instrument legally executed by which a person makes disposition of her estate to take effect after her death by making bequests. • A Trust is property held by a natural or legal person for the benefit of another. • An Estate is the degree, quality, nature, and extent of one’s interest in land or other property. • A Power of Attorney (POA) is a legal instrument from a person authorizing another to act as the attorney or agent for the person under certain conditions. • An Advance Directive provides instructions for future situations and may also be known as a Health Care POA, Living Will or Financial POA.

6. The State Has Written Your Will • Intestate Succession describes how property passes to others upon death when a person dies without having written a formal Will. In effect, this is the Will written by the State. DC Law makes disposition in this order. • Spouse (or domestic partner) 100%/Children 100% • if no spouse/children; • Parents 100% • If no spouse/children/parents: siblings/descendants 100% • DC gets all if no relations to the 5th degree

7. Who Should Write Your Will and Powers of Attorney • Consider your level of assets • Your comfort level to avoid Will contests • Competent Counsel • Internet Programs • Five Wishes -http:/www.agingwithdignity.org/five-wishes.php

8. Bequests that are not Expeditious and Economical • Leaving money to a cat. • Leaving money to a long-lost sister (“if she be living”). • Leaving a 2013 automobile to a brother who will be in prison until 2025. • Leaving a house to a minor.

9. Probate Property (Estate) Probate property is any property owned by the decedent at the time of her death or that is payable to her estate, or does not pass at time of death to another by terms of an instrument or by operation of law.

10. Probate Administration • Probate administration is the court process that enables title to pass from the decedent to recipients of her personal property (legatees) or real property (devisees)under the will, through a personal representative. • The filing of a petition for probate is the first step in the process. A personal representative may be nominated in a will or in the petition for probate.

11. Probate Administration (Continued) • The court provides overall guidance for the supervision of the estate that are carried out by the personal representative. • Generally, the Last Will and/or state law controls the disposition of probate property. • When all probate property has been distributed, all creditors properly notified or paid, the probate estate is closed.

12. Non-Probate Property • Examples of non-probate property are: • Joint real or personal property with right of survivorship, transfers payable on death (POD), real estate property transferred on death (TOD); • Insurance policies with named beneficiaries; • Employee benefits, such as retirement accounts with TIAA-CREFF, IRAs, Thrift Savings Program, etc. with named beneficiaries.

13. Will Considerations • Choose a Personal Representative • Nominate a guardian for children • Avoid Will Contests to the extent possible by • Making nominal gifts to or mentioning all close family members • Making equal treatment to children to the extent possible, e.g. special needs, other inheritance, present/future income • Avoiding sudden or significant changes that could suggest undue influence • Avoid provocative language and score settling • Avoid “no contest” language for bequests

14. Surrogate Decision MakingThe Alternatives

15. Considerations for Choosing A Health Care Agent • Willing to act • Strong advocate for you versus– doctors & family (doesn’t fold under authorities) • Can separate own feelings • Lives nearby or will travel and stay, if necessary • Someone you trust completely, not necessarily love completely

16. How Your Health Care Agent Makes Decisions • No power to make decisions for you until you can’t make or communicate a health-care decision. • Agent then acts upon wishes you have expressed that may be in writing. • What the agent believes you would want done under the circumstances after discussion with health-care providers that would be in your best interest.

17. Drafting and Safekeeping Health Care Documents • Keep documents where they can be found when needed. • Give copy to agent and family members. • Give copy to primary health-care provider. • Give copy to assisted living facility, nursing home, hospital, other residences, as appropriate. • Follow jurisdiction requirements for witnesses and notary.

18. Considerations for Choosing a Financial Power of Attorney Agent • Capacity and willingness to act with understanding of financial matters and business matters • Suitable fiduciary • No debt, drugs, alcohol, sexual, or gambling problems (an earthly Saint!) • Available in the distant future • Someone you trust completely, but may not love completely

19. How Your Financial POA Makes Decisions • Unlike a health-care POA, that is only effective when you can’t make or communicate a health-care decision, a financial power of attorney may be effective upon signing or upon specific conditions. • Financial institutions may require completion of their own forms before acceptance of a financial power of attorney.

20. Drafting and Safekeeping of Financial POA • Make several original copies (agencies may require that you give/send them an original copy • Keep where it can be found (consider giving copy to power holder and originals with your attorney) • Follow jurisdiction requirements for witnesses and notary

21. Very Important Reminder None of these documents will do you any good if no one knows about them. You have to talk with your primary health care provider and the person you designate as your health care agent. Discuss with your health care providers and doctors what kinds of end of life medical treatments you want. She can help you by answering any questions you have about certain treatments. Once you've decided what it is you do or don't want, make your wishes known to your doctor and your family.

22. Unsettled and Emerging Issues • Social media concerns • Safeguarding passwords • Access to website passwords • Freezing of password protected website financial accounts upon death

23. Resources • Health Care POA - DC Code Section 21-2207 • Living Will - DC Code Section 7-622 • Financial POA - DC Code Section 21-2101 • AARP Legal Counsel for the Elderly Client Interview Sheet (attached)