Estate Planning in Ohio: What is Medicaid Planning?

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Nursing home care and long-term care are extraordinarily expensive. The United States Department of Health and Human Services (HHS) reports the average cost for a room in a licensed nursing home now runs in excess of $7,698 per month. Even part-time assisted living care can cost tens of thousands of dollars per year. With such… Read more »

Too Late

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“I will get to it. I am just too busy right now, and when things slow down a bit I will do it.” Every estate planner has heard those words come of a client’s mouth who is now deceased and never “got to it.” It happened just yesterday to the mother of a client. I… Read more »

Estate Planning and Dementia – What Are Your Options?

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More than 5 million people in the United States are currently diagnosed with dementia and Alzheimer’s disease, according to a report by the Alzheimer’s Association. This figure is expected to reach 16 million by 2050. Dementia and Alzheimer’s are found in nearly every age bracket, but it has been seen most prevalent in senior individuals,… Read more »

Unforeseen Consequences of the Heroin Epidemic in Northeast Ohio

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According the Columbus Dispatch, Ohio leads the nation in opioid (i.e., heroin) overdose deaths. (Source: http://www.dispatch.com/news/20161129/ohio-leads-nation-in-overdose-deaths/1.) According to WKBN (a Youngstown television broadcast station), a growing number of children are losing their parents as a result of the epidemic. (Source: http://wkbn.com/2016/09/20/heroin-epidemic-leaves-growing-number-of-kids-without-parents/.) People my age (I am 57) are being called back into the role of… Read more »

Choosing a Trustee

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Trusts are flexible estate planning tools that allow people to have their assets used for a specific purpose or in a specific way both during their lifetime and after they have passed on. This is accomplished through the use of a trustee, who manages the assets based on the directions in the trust document for… Read more »

Using Beneficiary Designations in an Estate Plan

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There are many different ways and estate planning tools to pass along wealth to the next generation. The most common methods include the use of a will or trust, or sending all of the property through probate without an estate plan. However, probate can be time consuming, costly, and often leads to your heirs inheriting… Read more »

Facebook Helping with Your Digital Estate Plan

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  The social media website Facebook has recently announced a new feature called the “legacy contact” that allows its users to name a person to handle their account when they pass away. The legacy contact option is one example of many that show how companies that handle digital assets are making it easier for their users… Read more »

What Does It Mean To Have Power of Attorney?

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  It’s a term you’ll hear both lawyers and laypeople refer to on a regular basis: the power of attorney. But there can also be a fair amount of confusion over just what this legal term of art actually means. Simply put, a power of attorney is a written document giving permission by the “Principal” for… Read more »

Proper Estate Planning Can Help Ease Financial Fears

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  When it comes to planning a financial future, the cost of health care tops the list of concerns Americans fear most as they try to plan for retirement. That’s the conclusion of a survey undertaken early this year by Bankrate.com. The survey asked a representative sample of adults living in the continental United States, “What… Read more »