Elder Law and Estate Planning

 

 

 

In complex estate planning cases, we typically address one or ore of the following concerns::

• Protection from creditors
• Access (or limiting access) to wealth by beneficiaries for a multitude of reasons,
• Estate taxation, including making effective use of federal and state death tax exemptions,
• Income taxation, 
• How taxes will be apportioned, and 
• How assets will be efficiently divided or managed now and/or after the clients death or incapacity.

Additionally, we will likely consider using a number of different estate planning vehicles to achieve the desired results. We utilize a host of trust based planning tools The following are just a few examples of the estate planning tools :

• Grantor Retained Annuity Trusts
• Charitable Remainder Trusts
• Credit Shelter Trusts
• Qualified Terminal Interest Property Trusts
• Special Needs Trusts 
• Irrevocable Life Insurance Trusts.

Successful complex planning often demands the high level of tax knowledge. June Weppler has an advanced degree in Taxation (LL..M in Tax) and years of experience in the field of Tax and Estate Planning. To best achieve the client's intent, we may work in collaboration with other professionals (the accountant, the financial advisor, the insurance agent, individuals managing or working in the family business, etc.). Feel free to contact us with your estate planning concerns.

Everyone should have a sound estate planning customized to fit his or her needs. Unfortunately, more than half of Americans die intestate.

One of the most common misconception is that estate planning is only for the wealthy and maximizing tax savings. Everybody, whether rich or poor, has an estate when he or she dies. Estate Planning ensures that the right person receives the right property. If you don't have a plan for your estate, then the State has one for you. Additionally, estate planning is much more than just naming who will receive things you leave behind. It is an essential tool for your family's future security and well-being after your death or disability. The following instructions are just a few examples of what your simple estate plan may include :

• providing for family members with special needs so that government benefits will not be disrupted.
• Naming a guardian for minor children.
• Providing protection for your family members from creditors.
• Providing life insurance or long-term care insurance

The cost of estate planning does not have to be expensive. You may not need a complex estate plan now. We recommend that you start with a basic plan. For a young family or single adult, that may mean a will, term life insurance, and powers of attorney for your assets and health care decisions. As your needs change, you can always build and expand on your initial plan.

We strongly advise against doing this yourself to save money. That may end of costing you a lot more down the road, and some mistakes can have irreversible consequences. With our assistance, you can rest assured with the peace of mind that your documents are prepared properly. A small innocent mistake may have very unfortunate and costly consequences. A good estate planning attorney can help you identify goals, explore your options, and anticipate issues you may not have considered on your own. June will take the time to listen to your concerns, explain the various estate planning tools and guide you in how to best accomplish your wishes.

Veterans or widow(er)s of veterans may qualify for an Improved Pension which will provide financial assistance to offset the cost of necessary health care. This VA benefit is extremely valuable to veterans or widows/widowers of veterans with medical expenses or those needing care in the home, an assisted living facility, or a nursing home. VA benefits planning requires a thorough understanding of the VA laws and regulations and should only be done by an attorney accredited with the VA and knowledgeable in the areas of public benefits law. Attorney June Weppler is accredited by the VA and can lawfully provide advice in this arena. We provide the following services with prompt attention:

• Determining eligibility for VA pension,
• Assisting clients maximize the amount of VA benefits they are eligible for,
• Structuring Assets to qualify for benefits and preserve resources,
• Analyzing how the structure will affect current or future Medicaid qualification,
• Being available to answer any VA correspondence,
• Representing clients through the appeals process if necessary