To be properly prepared for the eventualities of aging, you should have a thorough understanding of the elder law issues that people are facing during current era. Learn more about elder law attorney in Ohio in this presentation.
Five Executor Duties: A Guide for Executors in OhioBarry H Zimmer
When a person creates a will, the will creator names an executor. The executor is responsible for overseeing the estate administration process. Learn more about executor duties in this presentation.
The Dire Consequences of Not Having an Asset Protection Plan: A Guide for Res...Barry H Zimmer
There are several dire consequences to not having an asset protection plan, including losing your nest egg, becoming a burden on others, and worrying about money. Nursing homes are very expensive and most assets could be gone quickly without a plan. You could also be unable to leave a legacy for your family or charities. These consequences can be avoided by taking smart steps like creating trusts and powers of attorney with help from an experienced asset protection lawyer.
If you’ve wondered about catching all of the potential savings, here are a few ways many Americans ensure their tax liabilities are lower. Learn more about estate taxes in this presentation.
Making The Hard Choice Advance Care Directive Health Care Proxy in OhioBarry H Zimmer
You’ve been asked to become a health care proxy for someone you love and you’re not sure what that might entail. Learn more about advance care directive health care proxy in Ohio
If you’ve been asked to fill the role of a guardianship in Ohio, there are many responsibilities that go with it. Learn more about legal guardianship in Ohio in this presentation.
When Personalities Clash: Finding the Right Estate Planning Team in OhioBarry H Zimmer
Ever wonder if you’re being treated fairly in the relationship between you and your estate planning or elder law attorney? Learn more about estate planning team in Ohio in this presentation.
Phased retirements are arrangements between an employee and employer that allow the employee to continue working with a reduced workload as he transitions into his retirement. Learn more about Ohio phase retirements in this presentation.
When you use a will to direct the distribution of your personally held property, the assets will not be immediately distributed to the heirs. Learn more about drawbacks of probate in Ohio in this presentation.
Five Executor Duties: A Guide for Executors in OhioBarry H Zimmer
When a person creates a will, the will creator names an executor. The executor is responsible for overseeing the estate administration process. Learn more about executor duties in this presentation.
The Dire Consequences of Not Having an Asset Protection Plan: A Guide for Res...Barry H Zimmer
There are several dire consequences to not having an asset protection plan, including losing your nest egg, becoming a burden on others, and worrying about money. Nursing homes are very expensive and most assets could be gone quickly without a plan. You could also be unable to leave a legacy for your family or charities. These consequences can be avoided by taking smart steps like creating trusts and powers of attorney with help from an experienced asset protection lawyer.
If you’ve wondered about catching all of the potential savings, here are a few ways many Americans ensure their tax liabilities are lower. Learn more about estate taxes in this presentation.
Making The Hard Choice Advance Care Directive Health Care Proxy in OhioBarry H Zimmer
You’ve been asked to become a health care proxy for someone you love and you’re not sure what that might entail. Learn more about advance care directive health care proxy in Ohio
If you’ve been asked to fill the role of a guardianship in Ohio, there are many responsibilities that go with it. Learn more about legal guardianship in Ohio in this presentation.
When Personalities Clash: Finding the Right Estate Planning Team in OhioBarry H Zimmer
Ever wonder if you’re being treated fairly in the relationship between you and your estate planning or elder law attorney? Learn more about estate planning team in Ohio in this presentation.
Phased retirements are arrangements between an employee and employer that allow the employee to continue working with a reduced workload as he transitions into his retirement. Learn more about Ohio phase retirements in this presentation.
When you use a will to direct the distribution of your personally held property, the assets will not be immediately distributed to the heirs. Learn more about drawbacks of probate in Ohio in this presentation.
Medicaid is a need-based health insurance program, it is administered by the federal government along with each respective state government. Learn more about Ohio medicaid in this presentation.
What is the Unlimited Marital Estate Tax Deduction in OhioBarry H Zimmer
In this paper, we will look at the unlimited marital estate tax deduction, but we should first explain some things about the federal estate tax from an overview. Learn more about unlimited marital estate tax deduction in Ohio in this presentation.
Family partnerships, or FLPs, as they're known, are used to move ownership and assets to family members without overwhelming tax burdens. Learn more about family limited partnerships in Ohio in this presentation.
What is the Annual Gift Tax Exclusion in OhioBarry H Zimmer
Good news is that most people don't pay the tax because of the annual gift tax exclusion. Learn more about annual gift tax exclusion in Ohio in this presentation.
What Happens If I Die Without a Living Will in OhioBarry H Zimmer
The document discusses the results of a study on the impact of COVID-19 lockdowns on air pollution. Researchers found that lockdowns led to significant short-term reductions in nitrogen dioxide and fine particulate matter pollution globally as human activity declined. However, the impacts on air quality were temporary and pollution levels rebounded once lockdowns were lifted and human activity resumed.
A power of attorney is a legally binding device. When you execute a power of attorney you empower someone else to act on your behalf. Learn more about power of attorney in Ohio in this presentation.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
An estate planning law firm offers free consultations to discuss setting up a simple estate plan. The document provides a basic overview of what an estate plan entails. It encourages contacting the firm to schedule a free consultation where specific questions can be asked about estate planning.
Every person’s estate plan must include certain essential components. In this presentation we are going to look at the core elements of a basic estate plan.
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Massimo Talia
This guide aims to provide information on how lawyers will be able to use the opportunities provided by AI tools and how such tools could help the business processes of small firms. Its objective is to provide lawyers with some background to understand what they can and cannot realistically expect from these products. This guide aims to give a reference point for small law practices in the EU
against which they can evaluate those classes of AI applications that are probably the most relevant for them.
What are the common challenges faced by women lawyers working in the legal pr...lawyersonia
The legal profession, which has historically been male-dominated, has experienced a significant increase in the number of women entering the field over the past few decades. Despite this progress, women lawyers continue to encounter various challenges as they strive for top positions.
Genocide in International Criminal Law.pptxMasoudZamani13
Excited to share insights from my recent presentation on genocide! 💡 In light of ongoing debates, it's crucial to delve into the nuances of this grave crime.
Business law for the students of undergraduate level. The presentation contains the summary of all the chapters under the syllabus of State University, Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act, Limited Liability Act, Consumer Protection Act.
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
Medicaid is a need-based health insurance program, it is administered by the federal government along with each respective state government. Learn more about Ohio medicaid in this presentation.
What is the Unlimited Marital Estate Tax Deduction in OhioBarry H Zimmer
In this paper, we will look at the unlimited marital estate tax deduction, but we should first explain some things about the federal estate tax from an overview. Learn more about unlimited marital estate tax deduction in Ohio in this presentation.
Family partnerships, or FLPs, as they're known, are used to move ownership and assets to family members without overwhelming tax burdens. Learn more about family limited partnerships in Ohio in this presentation.
What is the Annual Gift Tax Exclusion in OhioBarry H Zimmer
Good news is that most people don't pay the tax because of the annual gift tax exclusion. Learn more about annual gift tax exclusion in Ohio in this presentation.
What Happens If I Die Without a Living Will in OhioBarry H Zimmer
The document discusses the results of a study on the impact of COVID-19 lockdowns on air pollution. Researchers found that lockdowns led to significant short-term reductions in nitrogen dioxide and fine particulate matter pollution globally as human activity declined. However, the impacts on air quality were temporary and pollution levels rebounded once lockdowns were lifted and human activity resumed.
A power of attorney is a legally binding device. When you execute a power of attorney you empower someone else to act on your behalf. Learn more about power of attorney in Ohio in this presentation.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
An estate planning law firm offers free consultations to discuss setting up a simple estate plan. The document provides a basic overview of what an estate plan entails. It encourages contacting the firm to schedule a free consultation where specific questions can be asked about estate planning.
Every person’s estate plan must include certain essential components. In this presentation we are going to look at the core elements of a basic estate plan.
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Massimo Talia
This guide aims to provide information on how lawyers will be able to use the opportunities provided by AI tools and how such tools could help the business processes of small firms. Its objective is to provide lawyers with some background to understand what they can and cannot realistically expect from these products. This guide aims to give a reference point for small law practices in the EU
against which they can evaluate those classes of AI applications that are probably the most relevant for them.
What are the common challenges faced by women lawyers working in the legal pr...lawyersonia
The legal profession, which has historically been male-dominated, has experienced a significant increase in the number of women entering the field over the past few decades. Despite this progress, women lawyers continue to encounter various challenges as they strive for top positions.
Genocide in International Criminal Law.pptxMasoudZamani13
Excited to share insights from my recent presentation on genocide! 💡 In light of ongoing debates, it's crucial to delve into the nuances of this grave crime.
Business law for the students of undergraduate level. The presentation contains the summary of all the chapters under the syllabus of State University, Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act, Limited Liability Act, Consumer Protection Act.
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
Integrating Advocacy and Legal Tactics to Tackle Online Consumer Complaintsseoglobal20
Our company bridges the gap between registered users and experienced advocates, offering a user-friendly online platform for seamless interaction. This platform empowers users to voice their grievances, particularly regarding online consumer issues. We streamline support by utilizing our team of expert advocates to provide consultancy services and initiate appropriate legal actions.
Our Online Consumer Legal Forum offers comprehensive guidance to individuals and businesses facing consumer complaints. With a dedicated team, round-the-clock support, and efficient complaint management, we are the preferred solution for addressing consumer grievances.
Our intuitive online interface allows individuals to register complaints, seek legal advice, and pursue justice conveniently. Users can submit complaints via mobile devices and send legal notices to companies directly through our portal.
Receivership and liquidation Accounts
Being a Paper Presented at Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) on Friday, August 18, 2023.
सुप्रीम कोर्ट ने यह भी माना था कि मजिस्ट्रेट का यह कर्तव्य है कि वह सुनिश्चित करे कि अधिकारी पीएमएलए के तहत निर्धारित प्रक्रिया के साथ-साथ संवैधानिक सुरक्षा उपायों का भी उचित रूप से पालन करें।
1. What Is an Elder Law Attorney?
To be properly prepared for the eventualities of aging, you should have a thorough understanding of the elder law issues that people are facing during our current era.
Zimmer Law Firm, LLC (513) 721-1513
866.799.4050 (toll free) • ZimmerLawFirm.com
2. Elder law attorneys specialize in areas of the law that are particularly relevant to senior citizens. In this paper we will look at some of the issues that elder law attorneys routinely address.
Long-Term Care
When you are planning ahead for the eventualities of aging, you should certainly understand some facts about long-term care. This is the type of care that you would receive in a nursing home or assisted living community.
If you work during your life and pay taxes, you will qualify for Medicare when you reach the age of 65. To become eligible you must gain 40 retirement credits throughout your working years. The maximum annual accrual is four credits per year.
3. Once you recognize the fact that you will be eligible for Medicare, you may breathe a sigh of relief. All of your needs will be met when you become a senior citizen, right? Actually, this is not the case. Medicare will not pay for long-term care. This type of care is considered to be custodial care rather than medical or convalescent care. Medicare would pay for up to 100 days of convalescent care after surgery, but that's the extent of it.
It is not easy to reach into your pocket to pay for long-term care. Our firm practices law in the state of Ohio. According to a Genworth Financial study, the median annual cost for a private room in a nursing home in Ohio in 2013 was $87,180. The median cost for a year in an assisted living community was $47,646.
Some people who need assistance with their activities of daily living can receive help within their homes. Home health aides are expensive as well. In 2013 the median annual charge for a home health aide exceeded $43,000 in Ohio.
4. Elder law attorneys will educate clients about these expenses. They will also point out the fact that the majority of senior citizens will eventually need living assistance. Medicaid Planning
Though Medicare won't pay for long-term care, Medicaid is a government health insurance program that is set up to assist with these costs. However, eligibility determinations for Medicaid are based on financial need. If your countable assets exceed program parameters, you cannot qualify. In most states, the countable asset limit for an individual is just $2000.
In spite of the stringent asset limits, the majority of the long-term care that people receive in the United States is paid for by the Medicaid program. Some people spend all of their resources paying for long-term care, and they can then qualify for Medicaid.
Others take a more measured approach. They anticipate the need for Medicaid coverage in the future, and they divest themselves of assets in advance of applying for the program. This is what Medicaid planning is all about.
5. It is possible to engage in a Medicaid spend down to keep a maximum store of assets in your family as you aim toward Medicaid eligibility in the future. Elder law attorneys understand Medicaid rules and regulations thoroughly. They advise clients who would like to gain Medicaid eligibility in the future without losing everything in the process.
Incapacity Planning
Elder law attorneys also help clients prepare for incapacity. If you were to become unable to make your own decisions, interested parties could petition the court to appoint a guardian to act on your behalf.
You can prevent a guardianship proceeding and choose your own hand-picked decision- makers if you act in advance. This is typically done through the execution of legally binding devices called durable powers of attorney.
A living will is also something that should be part of your incapacity plan. With a living will you state your preferences regarding the utilization of life-sustaining measures.
6. Elder Financial Abuse
Elder financial abuse is another pressing elder law issue. Billions of dollars are lost each year due to instances of elder financial abuse. There are steps that can be taken to mitigate your exposure. Your elder law attorney can explain your options to you and make recommendations.
Conclusion
Elder law attorneys advocate the interests of senior citizens, and they provide direct, practical counsel to their clients.
To be properly prepared for the eventualities of aging, you should have a thorough understanding of the elder law issues that people are facing during our current era. One of these issues is the matter of long-term care and the expenses that go along with it.
The majority of senior citizens will someday need long-term care, and it is very expensive. Medicare won't help, so you must look elsewhere for assistance.
7. If you are concerned about the contingencies that you may face during your senior years, arrange for a consultation with a licensed elder law attorney. Your lawyer will answer your questions, gain an understanding of your unique personal situation, and make the appropriate recommendations.
References
U.S. Dept. of Health and Human Services
http://longtermcare.gov/
Genworth Financial
https://www.genworth.com/corporate/about-genworth/industry-expertise/cost-of- care.html
8. About the Author
Barry Zimmer
Barry H. Zimmer founded THE ZIMMER LAW FIRM in June 1993, to practice in the areas of estate planning, estate administration, and business succession planning. His goal was and continues to be helping clients understand and de-mystify the often confusing world of estate planning in an ever-changing society, and to implement effective estate planning with minimal effort and time investment. The firm works from the belief that planning should always be driven by purpose. As a result, there are no “canned” or pre-set planning solutions. Instead, Zimmer helps clients identify their goals first and then builds estate and business plans based on that understanding.
Barry has been in private practice since receiving his law degree from the University of Cincinnati College of Law in 1979. He earned his Bachelor of Arts Degree from U.C. with Honors, Magna Cum Laude and Phi Beta Kappa, in 1976. He was profiled in the 1990-1991 edition of Who’s Who in American Law for contribution to the betterment of contemporary society, and has lectured numerous times on legal topics, and authored several articles and Special Reports on estate planning. He is a former guest columnist on Simply Money, on 91.7 FM, WVXU. He makes occasional guest appearances on radio about estate planning topics, and has been quoted in newspaper articles and columns on estate planning matters.
In Mr. Zimmer’s perspective, excellence in implementing trust-based estate plans is but one aspect of his responsibility to clients. Providing reliable guidance and service to families of clients who pass away is just as critical as sound planning at the front end. The firm is very active in settling trusts of all complexity and sizes, and handling probate cases and guardianship proceedings. Zimmer and his staff have successfully handled hundreds of trust estate cases, and are experienced in settling and distributing a wide variety of estate assets to heirs.
The Zimmer Law Firm
9825 Kenwood Road, Suite 201
Cincinnati, OH 45242
Phone: (513) 721-1513
Fax: (513) 287-8623
Website: www.zimmerlawfirm.com