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Do I Need To Sign A Personal Guarantee Agreement?
Are you or your loved one being sent to a nursing home sometime soon? The application process for a nursing home can be alarming, but having an attorney by your side can guarantee that you or your loved one is kept safe from legal
What Should You Do When Its Time To Renew Your Medicaid Benefits?
Is it time to renew your Medicaid benefits? Let the attorneys at RM Ohio Law help you figure out and process the renewal
What Are The Different Types Of Trusts?
Are you looking to set up a trust but aren't sure which one to go with? You've come to the right place, as our attorneys can help you better understand what a belief is and which one best suits your
What Is Qualified Income Trust And How Does It Pertain To Medicaid?
If you're looking to apply for Medicaid anytime soon, there are a few things you need to have in order. One of those things is needing to have a qualified income trust. But what exactly is a qualified income trust, and does it pertain to your Medicaid
Aid & Attendance: A Veterans Program You Need To Know About
Thank you to every veteran who has served our country over the last 50 or more years. For veterans who served during wartime, we have some information on a program that could help you financially per month. Keep reading below to find out
Mistakes To Avoid When Writing Up A Trust
Leaving a trust unfunded is one of the biggest mistakes you can make if you have a genuine, revocable living trust. Keeping reading below to discover how you can avoid this one big mistake almost every person makes when writing up a trust. If you're unsure of how to fund your current trust, we can
7 Easy Steps Towards Effective Medicaid Planning
Be proactive! Take charge of your future, for yourself and your family. Take care with your financial records. Remember that you may need to provide up to 5 years of information to qualify for Medicaid. Keep an updated list of your Assets. (Stocks, Pension awards, Insurance Policies, etc). Maintain updated copies of your Liabilities, as well. (Rent or mortgage payments, property taxes, utility bills, and medical expenses). Determine your goals, family needs, and health concerns for your immediate AND long term future. Remember to have in place these key documents: - Will - Living Will - Healthcare Power of Attorney - Financial Power of Attorney - HIPAA Authorization Create an overall estate plan that will help you and your loved ones achieve your goals, help direct your saving, spending, and investment strategies, and allow you to plan with your individual needs in
The Top 10 Estate Planning Mistakes
Not getting around to it. Not putting your plan in writing is always a bad idea. Believing the myth that estate planning is only for the wealthy: This is a fallacy. Estate planning is important for everyone who is concerned about where their assets will end up during disability and upon their demise. Often, when taking the value of a home into account, people are surprised to find that their “estates” are larger than they thought. Leaving the Living Trust Unfunded: A living trust is merely a vehicle that allows you to pass your assets outside of probate. However, if there are no assets in the trust, nothing has been accomplished. There is no point in drafting a living trust if the assets are not re-titled into the name of the trust. Leaving Assets as Joint-Tenancy: Titling assets as joint-tenancy with-right-of-survivorship (JT/WROS) does avoid probate because the assets pass automatically upon the first death, however, they are exposed to the lifetime creditors of the co-owner. Leaving Assets Outright to Beneficiaries: Assets that are left outright to heirs and beneficiaries are exposed to creditors, predators and divorcing spouses. It is much better to leave assets in trust for their benefit. Assets left in trust have potential asset protection. The beneficiaries still have access to the funds but creditors, lawsuits and divorcing spouses normally cannot touch the assets inside the trust. Little or no Mental Disability Planning: If no or inadequate planning ha
The Basic Testamentary Estate Planning Documents
Once a decision has been made to engage in a formal estate plan, as opposed to letting the courts sort out who receives your property at your death, the decision essentially boils down to the following choices: Will-based Estate Plans: A Will-based estate plan uses a Will to contain all of the instructions that the client wants to apply to their property at their death. In effect, a Will is dormant until death occurs, then its terms spring into being and a court supervised procedure, called probate, begins and ensures that the decedent’s last wishes are carried out. The terms of a Will progress though naming guardians for minor children, payment of last expenses, distribution of any specific bequests, the disposition of the decedent’s property, including changing the title of the property from the decedent to the beneficiaries and the power and responsibilities of the personal representative. Trust-based Estate Plans: A trust based estate plan uses a revocable living trust to contain all of the instructions that the client wants to apply to their property during their lifetimes, their disability or illness and at their death. Unlike a Will, a living trust springs into life upon signing. It is an independent legal entity with rights and responsibilities of its own. The operations of a Trust are carried out by the Trustees for the sole benefit of the beneficiaries, both lifetime and after death. Unlike a Will, property is transferred from the Trust creator to the
Five Things That Richard A. Myers Jr and Associates Are Thankful For
We would like to dedicate this post to say “thank you” for the people and things that make our lives more fulfilling. Here are five things we at Richard A. Myers Jr. & Associates are thankful
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815 Crocker Rd., Suite 10
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