You’ve probably heard a lot about trusts, and you may be wondering, “Do I need one?”   It’s a simple, straightforward question, but there isn’t one magic answer. It depends on your goals for your estate and your family as you age and after you pass away. Let me explain.   First, what is a […]

When it comes to important life events, creating or updating an estate plan tends to slip the mind. And in fairness—whether you’re moving, starting a new job, having a baby, or retiring—you probably have your hands full. Yet when we’re least likely to think about estate planning is usually when we need to most.     So today, I want to talk about when it’s important to create or revisit your estate plan. Some of […]

When your kids or grandkids get a new set of LEGOS, it always comes with instructions. Same with that assemble-it-yourself furniture from the big-box retailer (or at least, we hope it comes with intelligible instructions). But when it comes to living life, there are no instructions, even when we need them the most.   As […]

In the past, attorneys commonly used a life estate strategy for purposes of obtaining Medicaid eligibility.  Although better approaches existed, the life estate method continued to be the most common. Many people (including attorneys) fail to understand how a life estate is treated when it comes to the Medicaid recipient’s estate. So what exactly is […]

Most Medicaid applicants quickly realize that giving away assets can get them in trouble. To receive help paying for the nursing home through Medicaid, you must disclose your financial transactions during the last five years, referred to as the “look-back period.” Ohio has a five-year look-back period. If you gave away an asset or sold […]

Using a life estate to transfer a house or other real property has been a planning technique used by many seniors.  But what exactly is a life estate?  Simply put, a life estate is a legal arrangement to transfer property upon a person’s death.  One person (typically the giver) retains or is given an interest in the property for their lifetime.  This […]

Ohio’s laws on Medicaid estate recovery are among the most aggressive in the country. Following the death of a Medicaid beneficiary, the state must seek reimbursement for the cost of benefits paid on behalf of a beneficiary during his or her lifetime. While most states limit reimbursement only to the assets of the Medicaid beneficiary’s estate that pass […]

How can I make sure my loved ones get my personal property? Read below to learn three different techniques used to distribute your “stuff” at your passing.   A critical aspect of any estate plan is the decision of how your tangible personal property will be distributed when you die.  What exactly is tangible personal […]

What if I told you there was a way you could protect one of your biggest assets from the nursing home and the Medicaid “spend-down.” For many seniors, learning that there is a way to shield their house or their family farm from the cost of long-term care is some of the best news they […]