Estate Planning

FPM is a unique nonprofit partnership of ministries dedicated to providing individuals and families with a path to sound biblical stewardship through their estate plans. Since 1982, more than 40,000 families and individuals have benefitted from their unique “stewardship through estate planning “ministry. The 90-minute presentation provides clear and accurate information that cuts through misinformation and helps members avoid unnecessary and costly mistakes in securing their loved one’s future. You can get more details about this FREE estate planning ministry at www.fpm.org (homepage ABOUT dropdown).

Five years ago, we started on an exciting stewardship journey when we offered Dave Ramsey’s Financial Peace University to the entire church family. It was not long after, we started getting questions as our people thought about the legacy they would like to leave to their families, church, and other entities dear to them. Many asked the question, “Who do we talk to about these type questions?” Working with our trustees, leadership team and the First Orlando Foundation, …. We started looking for partners that we could walk alongside and help our members get their questions answered and get plans in place about the legacy they wanted to leave. After a nationwide search for reputable ministries, we chose to work with FPM. FBO is committed to providing this service FREE to you and your family. FPM provides all the legal documents and works with you throughout your lifetime. All these details are explained in the 90-minute seminar that you must attend in person or online. We provide these seminars in February and September each year.

A Living Trust can keep your estate from going through the high costs and delays of probate, and unlike a will that becomes public after your passing, a Living Trust offers total confidentiality and complete control over your assets. Upon your passing, whomever you named as Successor Trusteee at the time you established your Trust would immediately take control over your assets and distribute them according to your directions. There are no required waiting periods. You can name a legal "Guardian" in your Trust to care for your minor children at the time of your passing. You can also name a "Conservator" for yourself, should you at any time become disabled. Assets are easily placed in the Trust by changing the title on your stocks, real estate, bank accounts, etc. The property will now be titled in the name of your Living Trust, with yourself named as the Trustee. It is still your property, and you may continue to enjoy it or sell it as you choose, as you are the owner of your assets, and Trustee of your Living Trust. NOTE: A Revocable Living Trust may be revoked or amended by you at any time in your lifetime.

Probate is the legal process through which the court sees that, when you die, your debts are paid, and your assets are distributed according to your will. If you don't have a valid will, your assets are distributed according to state law. In Florida, if your estate is valued at $75,000, your estate will go through probate. Probate costs can be 6%-8% of the value of your estate and your records are public. In most cases, probate takes 6-9 months and as much as two years

Contrary to what you've probably heard, a will may not be the best plan for you and your family. That's primarily because a will does not avoid probate when you die. A will must be validated by the probate court before it can be enforced. Also, because a will can only go into effect after you die, it provides no protection if you become physically or mentally incapacitated. So, the court could easily take control of your assets before you die. This is a concern of millions of older Americans and their families. Fortunately, there is a simple and proven alternative to a will -- the Revocable Living Trust. It avoids probate, and lets you keep control of your assets while you are living -- even if you become incapacitated, as well as, give your loved ones control of your estate after you die.

In the information above, there are many unanswered questions about a Revocable Living Trust and the choices one needs to make about setting up your estate. Can you give me additional help by answering more of my questions?

On the www.fpm.org website, you have two specific Q/A sections that have proven to be very valuable to those that have previously registered for the FPM Free Estate Planning Seminar.

• On the Homepage of the website locate the MEMBERS tab.
• Click on the MEMBERS dropdown
• You will find two sections where you will get many answers: MEMBER FAQ and ESTATE PLANNING 101.
• Click on the question needed and you will get an answer; questions are not exhaustive, but very helpful with many issues in estate planning.