Ledger Dispatch photo by Helen Bonner Jackson attorney Gwendolyn Christeson, left, and financial advisor Danelle Dix were the guest speakers at Wednesday afternoon's workshop on financial and estate planning in Sutter Creek. Ledger Dispatch photo by Helen Bonner Though geared for women, Wednesday's two-hour workshop brought dozens of women and men of all ages.

Unsettling economic times brought a large and attentive audience of both men and women to the Sutter Creek Community Building on Wednesday, when the Amador branch of the AAUW presented a free program on practical financial and estate planning, "especially for women."

The American Association of University Women put up two local experts for the two-hour session to address practical issues for people of all ages, with particular focus on concerns for women.

Elderly members of the audience wanted to know how they could make limited pensions cover escalating costs or protect threatened nest eggs. Younger people wanted help saving money, and still others wanted to know how to manage rising health care costs for their aging parents or get advice on how to send their children to college.

Led by financial adviser Danelle Dix and Jackson attorney Gwendolyn Christeson, the presentations focused on two areas: Planning a financial future and making the most of legal strategies to do so.

Both speakers, with practical anecdotes, focused on the concerns of women. Statistics show 90 percent of women - single, widowed or divorced - are responsible for their own finances, but only 30 percent have enough information or training to understand today's financial complexities. A survey by Oppenheimer Funds showed half of the women surveyed do not participate in a retirement savings plan.

When Dix asked for a show of hands of how many had retirement plans, few went up. "Early is good, but It is never too late," she reminded them.

"Though women are gaining more of a presence in the work force and are earning more than ever, they know less about investing than men," Dix said. "Even so, those who do invest make fewer mistakes than men. Men won't ask for directions," she laughed, "and they tend to hold onto what should be let go."

Dix, an adviser with the Martell branch of Edward Jones Investment Advisors and former CFR at Sutter Amador Hospital, handed out user-friendly workbooks and a "Woman's Guide to Money Matters" pamphlet that participants could follow. Among subjects covered were planning for retirement, elder-care expenses and how to beat that old savings destroyer - inflation - which she demonstrated is closer to 3 percent than the often claimed 2 percent.

Dix's advice was to budget each month for new or changing expenses. "Savings should be part of that budget," she said. "A couple of hundred dollars a month earning interest can add up to thousands in a few years. If budget shortfalls are discovered early, you can find places to cut before you get into serious debt."

She believes kids 16 and younger should be taught to put aside monthly savings.

Christeson, who specializes in estate planning, litigation of wills and trusts, and all aspects of conservatorships, discussed the differences between a will and a trust.

"A trust is entered into and effective while you are living; a will becomes effective after your death," she explained.

Questions from the audience ranged from the simple to the complex.

Christeson took one from an attendee asking the difference between a health care directive and power of attorney. "The health care directive is only effective if you become incapacitated," Christeson said. "A power of attorney is just for financial matters."

"Do you need an attorney to draw up a will or a trust?" she was asked. "No, but there are legal consequences, so it's helpful," she replied.

Asked when a will goes to probate, Christeson explained, "Suppose a husband dies, leaving some of his money in a bank but not entered in his will. The wife will have to go to probate court to get it - expensive and time consuming. One reason why trusts are popular is to keep the estate out of the courts. If there is no will or trust, the court, not you, determines who the heirs will be. The costs for probate can be excessive and can still result in children fighting over their inheritance."

Christeson made available the Guide for Seniors and the Law, covering senior caregivers, Medicare, elder abuse and other topics.

Future AAUW events will be the AAUW 40th Anniversary and Chocolate Exchange on Feb. l2; a Helping Women Survive and Thrive workshop on March l8; and the annual AAUW Home Tour on April l8. For more information, contact Lani Chapman at 245-6052 or Carol Campbell at 296-3408.