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Estate Planning Beginnings Estate Planning Beginnings Estate Planning Workshop: ADDing Value to all the stages of your life Securing your future while.

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Presentation on theme: "Estate Planning Beginnings Estate Planning Beginnings Estate Planning Workshop: ADDing Value to all the stages of your life Securing your future while."— Presentation transcript:

1 Estate Planning Beginnings Estate Planning Beginnings Estate Planning Workshop: ADDing Value to all the stages of your life Securing your future while youre A live Ensuring quality care if you become D isabled Helping your loved ones at the time of your D eath Presented By: Hehr & Hehr Co., L.P.A. Members of: Wealth Counsel LLC, National Academy of Elderlaw Attorneys, Cleveland Estate Planning Counsel, Ohio Forum of Estate Planning Attorneys, Ohio State Bar Association. Helping you Protect and Provide for the Ones you Love 1 HHOhiolaw.com (440) Hehr & Hehr Co. L.P.A

2 What IS an Estate? Your Assets Houses, Cars, Boats Cash Bank Accounts Life Insurance Stocks/IRAs An Estate is a Combination of: An Estate is a Combination of: 2 Your Liabilities Estate Taxes Probate Income Taxes Surviving Spouse Care Debts HHOhiolaw.com (440) Hehr & Hehr Co. L.P.A

3 Why Do Estate Planning? To keep control of your assets while youre alive and well. To provide for you and your loved ones should you become disabled. To give what you have to whom you wish, when you wish, in the way you wish. Ultimately: to Protect and Provide for your Loved Ones, no matter what the future may hold. 3 HHOhiolaw.com (440) Hehr & Hehr Co. L.P.A

4 Plan Ahead! Planning ahead for the expenses that reduce your Estate will also help with other common concerns: Retirement Planning Income vs. Bills Social Security Spousal Income Long Term Healthcare Plans Asset Based and Traditional Long Term Care Insurance VA Benefits, Medicaid Funeral Planning Make your important decisions ahead of time, so your loved ones dont have to. 4 HHOhiolaw.com (440) Hehr & Hehr Co. L.P.A

5 Basic Personalized Documents Basic Personalized Documents Basic Estate Plan Last Will And Testament Durable Power Of Attorney Power of Attorney for Healthcare Living Will HIPAA Release 5 HHOhiolaw.com (440) Hehr & Hehr Co. L.P.A

6 Can You Avoid Probate? Yes, you can. You will need to fund your assets using proper designations such as TOD, POD, Electing Beneficiary Designations, and holding assets Jointly. BUT, this technique will make your Last Will and Testament ineffective for those assets 6 HHOhiolaw.com (440) Hehr & Hehr Co. L.P.A

7 Choices in Estate Planning Does your Plan let you: Avoid Guardianship? Avoid Probate (1 st Death)? Avoid Probate (2 nd Death)? Control Distribution (1 st Death)? Control Distribution (2 nd Death)? Provide the Maximum Tax Savings? 7 No Will Joint Simple Power of Living Tenancy Will Attorney Trust No Yes No Yes No Yes No Yes No HHOhiolaw.com (440) Hehr & Hehr Co. L.P.A

8 Hehr & Hehr Co., L.P.A. Thank you for attending this program. Our Personalized Estate Plan serves as the starting point for all of our firms family based planning- the perfect building block. Hehr & Hehr Co. L.P.A believes that every individual deserves a personalized estate plan, complete with a Will, Powers of Attorney, and HIPAA Authorizations. We proactively work with families, nuclear and extended- if you cant come to us, we come to you! We provide workshops, meetings in the home, phone conferences and internet communications. 8 hhOhioLaw.com The information provided herein is not intended as Individual legal advice.


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