< Back to Blog < Back to AlerStallings

The New Congress and Future of the Federal Estate Tax

/

by Timothy Stallings

The uncertainty and complexity of the federal and state estate taxes have many people scratching their heads in 2011. The only constant regarding estate taxes is the fact that they change on an almost annual basis. For this reason, it is vital to be proacative and begin your estate planning process to ensure …

Estate Planning Mouse Traps: The Most Common Mistakes Made In Estate Planning

/

by Timothy Stallings

Everyone knows there will come a time when they will need to cross the proverbially Estate Planning bridge. A huge informational gap exists which is reflected by the fact that 65% of the country has done NO estate planning. This results in many people falling into some very common Estate Planning “Mouse Traps”. …

Buckeyes and Bulldogs: Tips on Donating to Your Favorite School

/

by Timothy Stallings

As you know, giving back to your favorite school is a wonderful way to create a legacy and ensure that your school continues to thrive. Despite their best intentions, many donors fail to maximize their gift by failing to properly structure it. While you may not have the means to make a $100 …

Veteran’s Aid & Attendance Benefits – Dispelling The $80,000 Asset Myth

/

by Tim Stallings

The Department of Veterans Affairs offers many beneficial options, including the Aid & Attendance program. The VA designed the program to provide a monthly benefit for veterans or their surviving spouses whose assets are being drained by high medical costs. This program is based on need. To test need, the VA evaluates the claimant’s …

How an Irrevocable Trust Can Protect Your Assets

/

By Tim Stallings

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 …

Don’t Bet the Farm – Using an LLC to Protect Your Family

/

by Tim Stallings & Geoff Kunkler

Estate planning attorneys have practically resorted to using a crystal ball due to recent uncertainty surrounding estate and gift tax regulations. Federal estate and gift tax provisions expired at the end of 2012, reverting the estate and gift tax amounts back to the $1 million exemption and a 55 percent …

Young & Unprotected: The Importance of Estate Planning for Millennials

/

by Tim Stallings & Geoff Kunkler
“Estate planning.” The very name carries with it the implication, if not assumption, that one has an estate. For many young people the idea that they have assets worth protecting is just as preposterous as spending to protect an estate that in their mind does not exist. However, traditional financial …

Understanding the Important Differences Between Medicaid and Assisted Living Facilities

/

By Tim Stallings
When an elderly person needs additional help and is looking for a facility, or a catastrophic incident occurs and a loved one can no longer stay at home, most people begin to research long- term care facilities. Many people do not realize there is a difference between that Medicaid views assisted living facilities …

Ohio Legacy Trusts: A Guide to the Ohio’s Newest Asset Protection

/

by Tim Stallings & Geoff Kunkler
Ohio recently joined the ranks of a number of other states in allowing individuals to create a Domestic Asset Protection Trust. The Ohio Legacy Trust Act became effective as of March 27, 2013. This act allows individuals to create an asset protection trust here in Ohio. Previously, in order to …

Life Estate and Medicaid Planning – A Bad Idea for Ohio Farmers

/

by Timothy Stallings

In the past, attorneys commonly used the life estate approach to for purposes of obtaining Medicaid benefits. Although there were better approaches available, the life estate method continued to be the most common. Many people (including attorneys) fail to comprehend how a life estate is treated when it comes to the Medicaid recipient’s …