OGDEN - St. Benedict's Foundation is offering an Estate Planning seminar for women on March 22, at Mount Benedict Monastery, and men are invited to come.
The seminar is a way for St. Benedict's Foundation to thank its donors, said Jodie LeBlanc, St. Benedict's board member. "This is a way for St. Benedict's to give back to the community that supports the foundation and also a way to help educate them on an important topic," she said. "This workshop will help educate the community about estate planning and trusts verses wills and how to distribute personal property. Estate planning information can help insure that people's asset's can be managed according to their wishes."
"The workshop will address women and inheritance," said Janice Wells, St. Benedict's Foundation board member and attorney. "Women in the United States control about 75 percent of the wealth," Wells said. "They hold half of the jobs, represent about half of all substantial investors of $100,000 or more and they outlive men by an average of seven years. Yet statistics show that they are less likely than men to protect their assets through estate planning."
"The seminar will cover the recent changes in federal estate tax law, as well as the history of women's inheritance rights," Wells said. "Interestingly enough during the American Revolution there was a change in the status of women, and also following the Civil War in the United States where so many men died, leaving women as the property holders without legal rights, that eventually led to women receiving the legal right to own property. We will discuss how things have advanced from the Land Rush of 1889 to 2011, to where there virtually is no difference between men and women in the United States. We will discuss what happens if a person has a will or a trust and how he or she can protect him or herself, and if a person doesn't have a will or a trust and how that person is not protected and what could happen. We will also discuss the benefits and drawbacks of wills and trusts and also talk about state taxes and current laws."
The seminar will also cover estate planning in terms of medical care, powers of attorney, and the basics of good estate planning. Wells will also talk about some famous women in history and what their wills looked like. For example, Eleanor Ritchey was the heiress of Quaker State Oil during the early 20th century. "She was an avid dog lover and left millions of dollars for the care of her 150 dogs," Wells said. "There are also men who left estates for their daughters and put limitations on them. John Kelly, the father of actress Grace Kelly, who became Princess Grace, limited what she could spend on clothes in his will."
The seminar will be held from 6 p.m. to 8 p.m. at Mount Benedict Monastery, 6000 South 1075 East, Ogden. It is free and open to everyone. RSVP to the foundation at 801-479-1800.
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