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Estate Planning Beginnings. 1. Estate Planning Workshop: ADDing Value to all the stages of your life. ♦ Securing your future while you’re A live ♦ Ensuring quality care if you become D isabled ♦ Helping your loved ones at the time of your D eath.

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Estate Planning Beginnings

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Estate planning beginnings

Estate Planning Beginnings

1

Estate Planning Workshop:

ADDing Value to all the stages of your life

♦ Securing your future while you’reAlive

♦ Ensuring quality care if you becomeDisabled

♦ Helping your loved ones at the time of yourDeath

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

HHOhiolaw.com ♦ (440)449-3266 Hehr & Hehr Co. L.P.A


What is an estate

2

What IS an ‘Estate’?

An ‘Estate’ is a Combination of:

  • Your Liabilities

    • Estate Taxes

    • Probate

    • Income Taxes

    • Surviving Spouse Care

    • Debts

  • Your Assets

    • Houses, Cars, Boats

    • Cash

    • Bank Accounts

    • Life Insurance

    • Stocks/IRAs

HHOhiolaw.com ♦ (440)449-3266 Hehr & Hehr Co. L.P.A


Why do estate planning

3

Why Do Estate Planning?

  • To keep control of your assets while you’re 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.

HHOhiolaw.com ♦ (440)449-3266 Hehr & Hehr Co. L.P.A


Plan ahead

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 don’t have to.

HHOhiolaw.com ♦ (440)449-3266 Hehr & Hehr Co. L.P.A


Basic personalized documents

5

Basic Personalized Documents

HHOhiolaw.com ♦ (440)449-3266 Hehr & Hehr Co. L.P.A


Can you avoid probate

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

HHOhiolaw.com ♦ (440)449-3266 Hehr & Hehr Co. L.P.A


Choices in estate planning

7

Choices in Estate Planning

Does your Plan let you:

Avoid Guardianship?

Avoid Probate

(1st Death)?

Avoid Probate

(2nd Death)?

Control Distribution

(1st Death)?

Control Distribution

(2nd Death)?

Provide the Maximum Tax Savings?

No Will Joint Simple Power of Living

Tenancy Will Attorney Trust

No

No

No

No

No

No

No

Yes

Yes

Yes

Yes

No

No

No

No

Yes

Yes

Yes

Yes

No

No

No

No

No

Yes

Yes

Yes

Yes

Yes

Yes

HHOhiolaw.com ♦ (440)449-3266 Hehr & Hehr Co. L.P.A


Hehr hehr co l p a

8

Hehr & Hehr Co., L.P.A.

hhOhioLaw.com ♦ 440-449-3266

Thank you for attending this program. Our Personalized Estate Plan serves as the starting point for all of our firm’s 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 can’t come to us, we come to you! We provide workshops, meetings in the home, phone conferences and internet communications.

The information provided herein is not intended as Individual legal advice.


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