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G P L A N N E D I V I N G A D V I S O R

BAPTIST HOSPITAL OF MIAMI SOUTH MIAMI HOSPITAL DOCTORS HOSPITAL MARINERS HOSPITAL HOMESTEAD HOSPITAL BAPTIST CHILDREN’S HOSPITAL BAPTIST CARDIAC & VASCULAR INSTITUTE BAPTIST OUTPATIENT SERVICES

Planned

Giving

Advisory

Council

Fall 2008

Robotic Technology Raises the Surgical Bar

Revisiting the Estate Plan ...30 Years Late

Surgeons at South Miami Hospital operate with extra arms — from a robot. Named after Leonardo da Vinci, who invented the first robot (a mechanical knight rigged with cables and pulleys), the da Vinci robot enables surgeons to merge the best of traditional, open surgery with the tools of minimally invasive surgery. Patients experience less pain, shorter hospital stays, quicker recovery times and less blood loss.

Baptist Health Foundation is raising funds for the Center for Robotic Surgery at South Miami Hospital to cover the cost of an additional da Vinci robot, which is

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Consider the initial estate plan for most young couples. As newlyweds or new parents, they may draft a will or create a trust. These clients are typically 30- something adults, who are in the accumulation stage of life. Hopefully, they have paid off student loans and purchased life insurance. In most cases, their net worth is marginal at best and may include equity in their homes, 401(k) balances and nonqualified investment accounts. It’s just too early to have built much.

As a result, the estate plan is a model of simplicity, with everything designated for the spouse and then the children in one lump-sum payment. There are no income streams to heirs, no deferred payouts, no charitable trusts, no life estate arrangements with real estate, no “stretched out” IRAs, no disclaimers, no marital or bypass trust arrangements. There’s no need for such sophistication because there’s no money!

PROBLEM... 30 years have passed and our baby boomers are now approaching age 65.

The size of the estate has changed but the estate plan has not.

What’s the big deal? The spouse and children are still the logical heirs; however, the estate is now worth $3.4 million.

Surgeons at South Miami Hospital operate with extra arms — from a robot. From left: Drs. Darren Bruck, Nicholas Lambrou, Mark Dylewski, Ricardo Estape and Avelino Piñon.

Consider the following:

1. The addition of a marital trust could save up to $1,455,800 in estate taxes.

For more information, visit the Foundation on the Baptist Health South Florida website

2. One of the dependent children is now independently wealthy and a disclaimer provision would allow him to redirect an inheritance and reduce his estate tax liability.

at www.baptisthealth.net. Click on Foundation. This issue of Planned Giving Advisor is available on the Web.

3. A “stretch out” of the qualified plan assets could save the beneficiaries thousands of dollars in federal and state income taxes.

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