The Milwaukee Post

14 • Milwaukee Post • June 21, 2013 Mitchell Park 4th of July The park with the 3 Domes ★ Independence Day Celebration "UNITED WE STAND UNDER ONE FLAG" OUT&ABOUT MatureLiving The 30th annual Seniorfest was held at the American Serb Memorial Hall on June 12 ★Parade 9:00 a.m. ★Flag Raising Ceremony 10 a.m. in front of the Domes. ★Awards will be given for participants who are wearing the BEST PATRIOTIC OUTFIT. This is for all ages from infants - 100 years old. We will have some nice prizes, so start planning your wardrobe now. Decorate your Bicycle/Trike, Doll, Coaster, Stroller, Costume for the parade. You must pre-register by calling with one of the following if you want to be part of the judging at 10 a.m. Bicycles/Trike Contest 10:00 a.m. call Debra & Kevin Konieczka 281-7720 Doll, Coaster Stroller, Costume Contest 10:00 a.m. call Joan Yets 545-7440 Be at any playground by 8:45 a.m. ◆Longfellow ◆Alexander Mitchell ◆Vieau ◆Christ Ev. Lutheran ◆Christ Santa Fe Luth. ◆Ebenezer Luth. ◆Doerfler ◆St. Martini Luth. ◆Prince of Peace ◆St. Vincent de Paul ◆Holy Trinity ◆Kagel ◆St. Wenceslaus ◆Ascension Lutheran, and ◆S. 4th and West Natonal Ave. Because Mitchell Park is under construction we are sorry that we will not be able to have any afternoon activities this year, but please join us for the fireworks at 9:15 p.m. Fireworks at 9:15 P.M. Photos by Robert F. Borkowski - PAID ADVERTISEMENT - TRUST COSTS VS PROBATE COSTS Does a trust really save you money at the time of your death? It should first be noted that trusts are being marketed by many individuals who are not lawyers and who are not licensed to draft trusts. Only lawyers can draft trusts. Marketing of trusts by non lawyers is often used as a way of selling you other services and products, such as becoming your "money manager". These salespersons usually refer you to a lawyer "they know" who "reviews" your form trust documents. Caution is needed in these situations. Certainly the financial relationship between the company and the lawyer should be fully explored. Be certain the lawyer to whom you are referred is working solely in your best interest and not for a financial relationship with the individual who referred you to the lawyer. You may want to ask how your payment is split between the various parties. When a lawyer quotes a probate fee, he or she is normally quoting for all the services to be rendered. Services may include: filing final personal income tax returns; filing fiduciary income tax returns; filing federal gift and death tax returns; preparing inventories and accountings for the estate; transferring property and preparing deeds; paying claims; and generally winding up all the affairs of the decedent. Most estates today are done as informal probates, and actual court time is usually limited to approximately an hour. Most of the services included in a lawyer's probate quote need to be done even if you have a trust. Tax returns, accountings, property transfers, and the winding-up of the decedent's affairs are going to be necessary whether you have a trust or a will. You may save "probate costs" with a trust but you incur "trust costs". You may save personal representative fees, but you incur trustee fees. Rather than the label, look at the bottom line. You may also want to factor in the larger initial cost of having the trust prepared. I recently heard a radio personality claim that "nothing needs to be done when you die if you have a trust". While this may be true in some limited situations (as it would also probably be true if you had a will in the same situation) it is not the average case. The reality is that we are all going to leave some work and expense behind when we die. Despite claims to the contrary, there is no "magical tool" which is going to eliminate all the work. Trusts do have their place and they do have many advantages, but probate avoidance does not necessarily save you money. Also, trusts that continue after you die carry yearly costs, and such trusts should be used only when your personal situation dictates, and not because your money manager wants to continue to manage your money even after your death. The next time someone tells you that there is no work or cost when you die if you have a trust, have him or her put it in writing. 232883076 Free Flag & Ice Cream ticket for all Parading School child. The Law Office of James J. Winiarski offers a free simple estate planning consultation. Our approach to estate planning is to explain the options available, the cost of each option, and the advantages and disadvantages of each option. If you would like to set up an appointment for a free estate planning conference, please call us at 383-3902. Top: Dancers light up the floor to the sounds of the Bobby Way Trio at the 30th annual Seniorfest at the American Serb Memorial Hall on June 12. The festival for adults 50 years of age and older features live music, dancing, entertainment, recreational activities, exhibits, food, bingo, a baseball dart tournament and more. The event is presented yearly by Milwaukee Recreation and the Milwaukee Public Schools. Left: Pat Herrick of Milwaukee gets high fives from her teammates after scoring a single in the dartball tournament.

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