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Sanibel Captiva Trust Company hosts WOW at the Captiva Island Yacht Club

By Staff | Mar 14, 2011

The Sanibel Captiva Trust Company held their third women’s seminar of the year at the Captiva Island Yacht Club on March 8.

Naples Trust Company President Adria Starkey welcomed more than 60 ladies to the yacht club to hear presentations by Allison K. Douglas of Cummings & Lockwood and Diane Stoddart of Financial Solutions.

Douglas gave a comprehensive review of estate and trust matters that women may want to consider as they decide how to protect their assets from taxes and make gifts to children and grandchildren. She told a series of real life stories that illustrated the importance of being aware of the various benefits and pitfalls of current estate and trust laws.

For 2011-12, she said, the Federal Estate Tax will have a $5 million exemption and a maximum tax rate of 35 percent. An exclusion on gifts up to $13,000 will also be available for the next two years. Douglas concluded her talk by discussing the pros and cons of UGMA and UTMA Gifts, 529 Plans and Med/Ed Exclusions.

Stoddart followed with a talk about the benefits and costs of Long Term Care Insurance. She said there have been many changes in the industry which merit a second look by consumers. With better medical technology and people living longer, as many as 1 in 4 people, according to recent studies, will require long term care as they age.

“It was great to have the opportunity to discuss today’s relevant women’s issues, and to speak to such a great group of women on 100th anniversary of International Women’s Day was an honor,” said Stoddart. “Education is the most important part of planning, whether it be financial planning or long term care planning. If we don’t know the risk, we can’t prepare for it. The risk of needing long term care is one of the most likely and most expensive we face as women.”

Many of the ladies chatted with the speakers at the end of the event to get further information. “This was the very best program we’ve had — it was really fabulous,” said Marlyn Wilcoxen. “Each speaker knew what they were talking about in great detail.”

“It was great information,” added Lisa Stahl.