Shows
Second Half of Life PodcastCorporate Transparency Act: What Business Owners Need to Know Today to Ensure Compliance TomorrowThe Corporate Transparency Act (CTA) took effect on January 1, 2024. This new reporting requirement requires millions of small businesses to file a Beneficial Ownership Information (BOI) Report with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).The main purpose behind the CTA is to halt money laundering and tax evasion. Entities that fall under the CTA’s mandatory reporting criteria include: LLCs, Limited partnerships, Corporations and S-Corporations. In this episode, Attorney Julie Steinbacher and Attorney Jessica Eckrote go over the CTA and its requirements and how our law firm can and will be hel...
2024-08-1544 minSecond Half of Life PodcastI Love You...BUT Will: Is Your Sweetheart Secure?In this episode, a recording of a seminar originally presented live in February 2024, Attorney Pat Santucci and long-term care planner Tammy Zilske help you discover the importance of pre-planning an estate before a catastrophic healthcare crisis happens. This will help you safeguard your loved ones from potential consequences and hardship in the future. Pat and Tammy discuss basic estate planning documents such as wills and powers of attorney, inheritance taxes, trusts and how they can be used to not only protect assets but also distribute them according to a pre-determined plan, and also briefly summarize long-term care...
2024-06-2750 minSecond Half of Life PodcastAn Hour (or more) on Trusts With The Co-Author of the Pennsylvania Trust GuideHave a question about trusts? Curious about whether a trust would be a good fit in your estate plan? Then join the co-author of the Pennsylvania Trust Guide to learn more about how to protect more of your wealth and provide a legacy for future generations. That's right, our founder, Attorney Julie Steinbacher, literally wrote the book on trusts in Pennsylvania, and in this hour-plus episode, discusses all aspects of trusts and how they are generally used. If you've ever thought about setting up a trust, then this episode is for you. Among the questions she answers...
2024-05-101h 11Second Half of Life PodcastDementia Training Excerpt: Staff & Family Support and Neglect PreventionThis episode is a brief excerpt from an eight-hour, day-long training program given by Certified Alzheimer's Disease and Dementia Care Trainers (CADDCT®) for the National Council of Certified Dementia Practitioners (NCCDP). This training is required for people to become Certified Dementia Practitioners (CDP®). In this clip, Attorney Julie Steinbacher, who is a CADDCT and a CDP, discusses the challenges that are present for those professionals and family members that are caregivers to people with dementia, and possible solutions, as well as things to look out for with respect to elder abuse and neglect. While the CDP®...
2024-04-1515 minSecond Half of Life PodcastSpecial Needs Planning & TaxationThis episode is the third and final part of a presentation that was recorded in December 2023 and made to tax and financial professionals. In it, Attorney Landon Hodges goes over special needs planning with a focus on the taxation aspect of it and ways to minimize taxes. In addition to the usual special needs planning that our firm does for clients with special needs and their family members, there is also a tax component that we haven't covered in depth in past recordings. This presentation, while intended for professionals, can still be helpful for those families that have a...
2024-04-051h 08Second Half of Life PodcastUnlocking Retirement Wealth: The Key to Navigating SECURE Act UpdatesIn this episode, which was recorded in December 2023 and was originally a presentation made to tax and financial professionals. In it, Attorney Jenna Franks goes through some of the changes to retirement planning that have come about since the SECURE Act and SECURE 2.0 were passed and became law over the past five years. She goes through some hypothetical examples of beneficiaries receiving inheritances in the form of IRAs to determine what is the best way to receive them - all at once or over the 10 years now allowed by the SECURE Act - and talks about other things that...
2024-03-0840 minSecond Half of Life PodcastTax Planning in 2024: An Elder Law PerspectiveIn this episode, which was recorded in December 2023 and was made to tax and financial professionals, Attorney Julie Steinbacher discusses and analyzes various asset protection strategies as they relate to estate tax minimization, specifically grantor vs. non-grantor trusts. While some of the information presented is quite specific and is intended for financial and tax professionals, much of the material would also be applicable for those that need to begin their estate planning, especially those to whom estate tax minimization will be one of their top priorities in estate planning. A video of this episode with a full...
2024-02-2346 minSecond Half of Life PodcastFive Ways to Pay for Nursing Home Care Without Breaking the Piggy BankIn this recording of a virtual seminar originally presented on September 28, 2023, Attorney Landon Hodges and Long-Term Care Planner Tammy Zilske discuss legal strategies that are available to help you cover the rising costs of long-term care while providing for your immediate needs and preserving your quality of life. Among the topics they go over are: current trends in long-term care & options you might not have known existed; myths & truths about the five-year Medicaid look back period; gifting your house to a child (or anyone) for $1 - why you better think twice; why a trust isn't just for "rich" people; a...
2023-12-1152 minSecond Half of Life PodcastPlanning for Families With a Child With Special NeedsIt’s important to identify and understand what assets are going to pass directly to a child with special needs and if those assets will adversely affect his or her ability to qualify for certain government benefits. The sooner we can get a handle on things, the better off our child with special needs will be in the future. In this recording of a virtual seminar originally presented in June 2023, Attorney Megan Ingram and Brian S. Young, CFP®, ChSNC®, give a rundown of some of the things that families with a child with special needs should consider, and a...
2023-10-051h 11Second Half of Life PodcastTax Planning in 2023: An Elder Law PerspectiveThis presentation was originally for tax and accounting professionals, but is now being made available for all. In it, Attorney Julie Steinbacher discusses some of the things that clients will need to consider - with the proper legal guidance of course - from an inheritance tax perspective when doing their estate planning this year. Changes to applicable laws that are upcoming are also discussed.
2023-06-3048 minSecond Half of Life PodcastTrust Takeover: Anything & Everything You'd Want to Know About TrustsThis episode is the full, uncut version of three previous episodes on trusts that were divided up and released in three separate parts. Protect more of your wealth and provide a legacy for future generations. Learn how you can establish a financial readiness plan today that accounts for the healthcare challenges of tomorrow. If you've ever thought about setting up a trust, or wondering how one works (there are many different types), then this video is for you. In it, Attorneys Julie Steinbacher and Megan Ingram answer the following questions and much more:- How...
2023-06-021h 29Second Half of Life PodcastSECURE 2.0: What You Really Need to KnowThis episode is a recording of a webinar originally presented to current clients of our firm and professionals, which we're now making available to everyone. In it, Attorneys Julie Steinbacher and Landon Hodges go over in detail some of the changes brought about by the passage of SECURE 2.0, which was signed into law on Dec. 29, 2022. SECURE 2.0 is a continuation of the original SECURE Act, which became law in December 2019. Both pieces of legislation are primarily designed to increase and facilitate access to retirement savings and lower employers' costs of offering and funding retirement plans, but they also have several...
2023-05-1136 minSecond Half of Life PodcastTrust Administration 101So you've set up a trust, either specifically to protect assets from long-term care costs, to avoid probate, or for some other reason specific to your individual circumstances. Now what? How is it administered, both during your life and after you pass away? In this episode, a partial recording of a virtual seminar originally held live in January 2023, Attorney Julie Steinbacher goes over some considerations of why you might want to set up a trust based on how it works after it is set up, goes over some hypothetical scenarios on how it would work if you set up...
2023-04-2028 minSecond Half of Life PodcastTrust Q&AIn this episode, a partial recording of a virtual seminar originally held live in January 2023, Attorneys Megan Ingram and Julie Steinbacher conduct a Q&A session with attendees of the seminar, answering a variety of questions posed by the group related to trusts. If you had some questions after listening to our previous episode on trusts (link to that episode is below), perhaps they were some of the same questions that are answered in this episode. If you have any further questions or would like to schedule an initial consultation with our office to get started with...
2023-04-0624 minSecond Half of Life PodcastA Comprehensive Tutorial on TrustsIn this episode, a partial recording of a virtual seminar originally held in January 2023, Attorney Megan Ingram gives a comprehensive presentation on trusts, including the different types, why and how our offices generally uses them, and much more. If you've heard about trusts and the benefits of using them in estate planning and are interested in learning more about them and potentially if they may be a fit for your future estate planning, this is the perfect episode for you.
2023-03-1634 minSecond Half of Life PodcastWhat Happens if I Need Long-Term Care? (Classic)In this classic episode, Long-Term Care Planner Tammy Zilske summarizes the best way to plan for potentially needing long-term care in the future, and goes over some things to keep in mind should you or a loved one ever suddenly have a need for such care. Of course, the best way to plan is to pre-plan before the emergency, but our firm is still able to assist with those crisis situations and usually make things a bit better off for our clients than if they hadn't consulted us. Please note that because this episode was originally recorded i...
2023-02-2309 minSecond Half of Life PodcastThe Secret Strategy: Planning Tips for Your Second Half of Life (Classic)The episode is a rebroadcast of an episode originally produced in 2020. In it, Long-Term Care Planner Tammy Zilske discuss some strategies that are available to anyone and everyone that will help minimize the financial and emotional impact of a healthcare crisis for you or a loved one. She discusses the five-year Medicaid lookback period and how to use that to your advantage to qualify for Medical Assistance to help pay for long-term care if you need it in the future, or even right now. She also talks about legal strategies that will protect your home and assets from the...
2023-01-1226 minSecond Half of Life PodcastRoth IRA Conversions in a Down Market & Inflation With Emphasis for Parents of Children With Special NeedsIn this episode, a recording of a virtual seminar originally held live on Nov. 9, 2022, Attorney Julie Steinbacher and James Lange, CPA, Attorney and Registered Investment Advisor, go into great detail on the topic of Roth IRA conversions, with a special focus and emphasis for parents with children with special needs. With the SECURE Act nearing its three-year anniversary and it having eliminated the old "stretch" IRA, there remains a loophole in the current law for beneficiaries of IRAs that have special needs, so those individuals that may be passing on a Roth IRA to a beneficiary that has special...
2022-12-221h 33Second Half of Life PodcastI Have a Trust and Now I Need Long-Term Care, Now What? (Classic)This episode is a partial rebroadcast of an episode that was originally produced in 2020, in which Long-Term Care Planner Tammy Zilske goes over what to expect if you already have a trust and then need long-term care in the future. She also touches on what can still be done if you've done no advanced planning for long-term care and then need it. Please note that because this episode was originally recorded in 2020, some of the numerical figures mentioned with regards to the cost of long-term care may be out of date, and in fact, are now even m...
2022-12-0111 minSecond Half of Life PodcastCharacteristics of Dementia (Classic)In this classic episode, a portion of an episode that was originally recorded in 2020, Long-Term Care Planner Tammy Zilske discusses some of the characteristics of dementia, and things you may see from someone that may have the early signs of dementia, even if they don't have a diagnosis. She also touches on some caregiver tips.
2022-11-1017 minSecond Half of Life PodcastDementia Caregiver 101 (Classic)In this classic podcast episode, a partial rebroadcast of an episode originally recorded in June 2020, Long-Term Care Planner Tammy Zilske discuss what is dementia and its warning signs and stages, community resources to contact for help as well as some caregiving tips. While Tammy doesn't go into great detail in this episode, this is a good starting point for those that may have just recently received a dementia diagnosis or for family members or caregivers that are just beginning this difficult process with and for a loved one. After listening to this podcast, if you're interested in l...
2022-10-2017 minSecond Half of Life PodcastPOAs 101 (Classic)This episode is a partial rebroadcast of an episode that was originally produced in 2020., in which Long-Term Care Planner Tammy Zilske gives an overview of the different types of Powers of Attorney, some tips for what people need to consider when drawing up their own POAs, and a few things that our firm generally recommends for all of our clients' POAs.
2022-09-2814 minSecond Half of Life PodcastThe Medicaid Rules and Other Ways to Pay for Long-Term Care (Classic)This episode is a partial rebroadcast of an episode that was originally produced in 2020. In it, Long-Term Care Planner Tammy Zilske discusses a little bit about how the process goes when you apply for Medicaid to pay for your long-term care. She also talks about some of the other ways that people pay for long-term care, including long-term care insurance, out of pocket, veterans benefits, and Medicare (although that doesn't pay for much in this area). Please note that because this episode was originally recorded in 2020, some of the numerical figures mentioned with regards to the cost o...
2022-09-0120 minSecond Half of Life PodcastA Summary of Asset Protection StrategiesIn this episode, a excerpt from a virtual seminar held earlier this year, Long-Term Care Planner Kristin Daugherty gives a brief summary of how our firm generally protects assets for our clients, the key points and things that you need to remember and consider for when you're engaging in long-term care planning and would like to preserve your assets so they can't be used for long-term care costs, and how to move forward when you're ready to do so.
2022-08-1115 minSecond Half of Life PodcastGood DocumentsIn this episode, Attorney Jenna Franks explains the importance of having good legal documents and exactly what that means, as well as the risks of not having good documents, or documents at all. She also discusses who to appoint as your Power of Attorney or agent, beneficiary designations that fall outside of Wills, and gives a general overview of trusts and how we generally use them.
2022-07-2111 minSecond Half of Life PodcastDifferences in Long-Term Care and Payment OptionsIn this episode, an excerpt from a recent virtual seminar, long-term planner Kristin Daugherty gives a general overview of the different types of long-term care available out there, as well as the different options to pay for them. For additional details about the different forms of long-term care, check out these more comprehensive and detailed podcast episodes:Levels of Long Term CareAvailable Benefits and Ways to Pay for Long-Term CareTypes of Long-Term Care and How to Pay for ThemFor more on the Medicaid qualification process and what is...
2022-06-3009 minSecond Half of Life PodcastAnswering Submitted Questions About Estate PlanningIn this podcast episode, Attorney Megan Ingram and Long-Term Care Planner Tammy Zilske answer some questions that recent seminar attendees asked during the seminar. Among them are:- Differences between a healthcare Power of Attorney and a living will- Briefly explaining the five-year lookback as it relates to applying for Medicaid to pay for long-term care- The "four D's" as they relate to gifting- Differences in IRS gifting guidelines and Medicaid gifting rules- The filial support law- How often should legal documents be reviewed- Who...
2022-06-0912 minSecond Half of Life PodcastDementia Dialogue Three MUST HAVE Conversations to Protect Your Family from Financial DevastationCaring for a loved one who is living with Alzheimer's disease or a related dementia can be quite challenging and should not be underestimated. Having conversations early and often is the key for making sure the right health care decisions are made in the second half of life. In this episode, Attorney Megan Ingram and Long-Term Care Planner Tammy Zilske discuss three conversations that need to happen within your family if you have a loved one that has a dementia, and also answer the following questions and more: - Are there government benefits available to help cover...
2022-05-2648 minSecond Half of Life PodcastBasic Taxes to Consider in Estate PlanningTaxes are a big part of what everyone needs to consider when doing their estate planning. Whether federal or state inheritance tax, how one structures their estate can make a big difference in what your estate tax is after you pass away. In this podcast episode, Attorney Jenna Franks gives a brief and general summary of what to consider when you do your estate planning with regards to taxes. Of course, every estate is different and the way it is structured with respect to taxes will also greatly vary depending on each person's unique situation and goals. C...
2022-05-0606 minSecond Half of Life PodcastTransitioning to Adulthood as an Individual with Special Needs: Legal ConcernsWhen a minor child with special needs transitions to being a legal adult (age 18), there are several things that need to be kept in mind from a legal standpoint and done correctly so that individual does not lose out on any potential benefits that he/she may be otherwise entitled. In this video, a recording of a presentation done for a private group in March 2022, Attorney Landon Hodges discusses those legal concerns for families that have individuals with special needs. Among the specific items discussed are guardianships, supplemental security income (SSI), social security disability insurance (SSDI), the Pennsylvania ABLE...
2022-04-2236 minSecond Half of Life PodcastA General Overview of the Medicaid Qualification Process for Long-Term CareMost people know Medicaid as a general healthcare program for people with limited income and assets. While it is this, the program also covers long-term care costs for people that qualify, and one may be surprised to learn that you don't need to be entirely broke with little or no assets to qualify. So, how does that happen? In this episode, Long-Term Care Planner Kristin Daugherty gives a brief and general overview, without going into too many fine details, about how our firm helps people qualify for Medicaid to pay for long-term care. There are some general things to...
2022-04-0606 minSecond Half of Life PodcastThings to Consider if You or a Loved One Needs Long-Term CareIf you or a loved one suddenly or unexpectedly needs long-term care, it can be an overwhelming time with lots of questions. In this podcast episode, Long-Term Care Planner Kristin Daugherty answers some of those common initial questions that people have when faced with this situation, based on our firm's experience in working with such clients on a daily basis. Each individual's and family's situation differs, however, so if you find yourself or a loved one facing these circumstances, it's best to consult an elder law attorney. Call us at 1-800-351-8334 to schedule a strategy s...
2022-03-2214 minSecond Half of Life PodcastThe Most Important Recommendation We Make to Our ClientsOur clients trust us to give them sound legal advice with respect to planning for their second half of life. As a law firm, we strive to give all of our clients the best possible advice for their situation and goals, which can greatly vary depending on those two and other factors (how old they are, how's their health, etc.). But, we always make one recommendation to all of our clients regardless of their circumstances. In this brief podcast episode, Attorney Jenna Franks explains that recommendation and goes into a bit more detail about what it entails.
2022-03-0803 minSecond Half of Life PodcastHow to Have Those Difficult Conversations and What to DiscussWe get it! Having conversations with anyone - family or otherwise - about estate planning and what you want to have happen after you pass away isn't something anyone looks forward to. In fact, many people intentionally put off such conversations for one reason or another. But doing so can potentially cause a lot of hardship later on during what is likely already a difficult time after a loved one passes away. So, in this brief podcast episode, an excerpt from a virtual happy hour held on Feb. 9, 2022, Attorney Jenna Franks and Long-Term Planner Kristin Daugherty go o...
2022-02-2306 minSecond Half of Life PodcastThree Tips to Tailor Your Trust to Tackle Your Estate Planning GoalsIn this recording of a virtual seminar originally presented on Jan. 27, 2022, Attorneys Julie Steinbacher and Megan Ingram-French teach you everything you need to know about trusts. Ever wondered if a trust might be the right estate planning tool for you? Then sit back and listen to this comprehensive presentation about trusts, how we generally use them at our law firm and why we set them up for our clients, who the key people are when a trust is set up, what assets can (and cannot) get put into a trust, and estate tax considerations. If you would...
2022-02-041h 09Second Half of Life PodcastAdjusting Your Estate Plan Underneath Uncle Sam's Tax HatThe U.S. House Ways and Means Committee released draft legislation on Sept. 13, 2021 that proposed a series of tax increases and tax cuts that could greatly affect certain parts of estate planning. In order to update our clients on the latest happenings within Congress, Attorney Julie Steinbacher recently conduced this virtual seminar to summarize these changes and how they could affect those that have already done at least some portions of an estate plan, although it can certainly apply to those that haven't started yet and are not our clients as well, which is why we're making this available...
2021-11-0951 minSecond Half of Life PodcastDigging Deeper into Dementia Without Needing a Medical DegreeIn this episode, learn valuable tips and resources for coping with the devastating effects of dementia. This is an audio recording of a virtual seminar originally presented on September 29, 2021. in it, Attorney Jenna Franks, Long-Term Care Planner Kristin Daugherty and Specialized Care Planner Holly Reigh introduce a plethora of pointers to your most urgent questions and concerns about dementia. These include, but aren't limited to the importance of early and accurate diagnosis, care options and how to pay for care, how to protect your home and other assets from having to be used to pay for the cost of...
2021-10-1948 minSecond Half of Life PodcastI Know Someone With a Trust, so I Need One Just Like it, Right?In this brief podcast episode, Attorney Jenna Franks and Long-Term Planner Kristin Daugherty explain how unique each individual trust can be, and why one size definitely doesn't fit all when it comes to trusts.
2021-09-2807 minSecond Half of Life PodcastThree Dementia Discussions You Should Have TODAY to Maintain Your DignityIf you or a loved one has been diagnosed with Alzheimer’s or Dementia, you may be overwhelmed with this new reality and have questions pertaining to the future. Learn what action steps are necessary to avoid becoming paralyzed by this mind-erasing disease. It’s a race against time! In this episode, a recording of a virtual seminar originally presented on July 14, 2021, Attorney Jenna Franks, Long-Term Care Planner Kristin Daugherty and Specialized Care Planner Holly Reigh provide answers to top questions about legal, tax, financial, and care concerns. They also talk about how to maintain control of your life, asse...
2021-09-061h 09Second Half of Life PodcastIs a Jointly-Owned Property Available to Help Pay for Long-Term Care?Let's say you own a property (home, vacation property, farm, etc.) jointly with another person, such as a sibling or other family member, or even someone you're not related to. Now, you need nursing home care. Can you be required to sell your portion of the property to generate funds to pay for your long-term care? In this short podcast episode, Long-Term Care Planner Kristin Daugherty gives the answer to this question - and it's not one you might want to hear if this applies to you (or could in the future). The good news is such a situation...
2021-08-2702 minSecond Half of Life PodcastShould I Put an Annuity I'm Already Receiving Distributions From Into a Trust?In this very brief podcast episode, Long-Term Care Planner Kristin Daugherty answers this simple question of whether or not you should put an annuity from which you're already receiving distributions into a trust if you establish one while doing estate planning. She also explains something else important that needs to be done with regards to an annuity if you're planning to qualify for Medicaid to pay for long-term care.
2021-08-2302 minSecond Half of Life PodcastWhat Happens if I Don't Protect My Assets, But Then Need Long-Term Care?What are the consequences of not doing any estate planning? Well, you can roll the dice and maybe you won't have any problems. But with an average of 1 in 5 adults needing some type of long-term care in their lives, why tempt fate? Basically, if you require long-term care, whether it's in a nursing home or even some type of in-home care, and you haven't done good estate planning, things could get very dismal, and your assets could disappear in a relatively short time frame. In this podcast episode, Long-Term Care Planner Kristin Daugherty talks about what can ha...
2021-08-2115 minSecond Half of Life PodcastWhy Having an Estate Plan is Important"I don't need to worry about having estate planning documents. When I pass I'm fine with whatever the default arrangements are for my estate." If this statement describes how you or someone you know thinks about estate planning, you might want to think again. Did you know that if you pass away without a will, it isn't your spouse that necessarily receives your entire estate? There can also be unnecessary inheritance tax consequences if you allow Pennsylvania's default estate plan to take effect for your estate. In this short podcast episode, Attorney Jenna Franks explains exactly what ha...
2021-08-1706 minSecond Half of Life PodcastAnswering the Top Questions About Long-Term CareThis episode is a rebroadcast of a show that aired as part of Elder Care Radio on WRSC 1390 AM in State College during 2020-21. It was produced by Forever Media. In this episode, the final in this series from Elder Care Radio, Attorney Jenna Franks and Long-Term Planner Kristin Daugherty answer some of the top questions they get from clients regarding long-term care. Specifically, this includes what are the different types of long-term care and what they entail, and how to pay for them (there are several different options). If you or a loved one may need l...
2021-08-1123 minSecond Half of Life PodcastHow to Craft an Effective Estate Plan Without Starring in Family FeudJust like the classic game show, we took a poll on how best to avoid family feuds. The top survey answers are on the board, and they all indicate peace of mind comes from properly planning ahead. In this episode, Attorney Megan Ingram-French and Long-Term Care Planner Kristin Daugherty will help get your family to the "fast money" bonus round and help you discover things like why it is important to name more than one agent on your Power of Attorney, legal documents that are critical, how you ensure your children are taken care of after you pass, asset...
2021-08-0552 minSecond Half of Life PodcastA Loved One Needs Nursing Home Care Now. What do I do?This episode is a rebroadcast of a show that aired as part of Elder Care Radio on WRSC 1390 AM in State College during 2020-21. It was produced by Forever Media. In this episode, Attorney Jenna Franks and Long-Term Planner Kristin Daugherty discuss what needs to be done, if it hasn't already, if and when someone has an unexpected medical emergency that results in a need for nursing home care or some other type of assisted living, including in-home care. This type of care can be expensive, and without proper planning, either in advance (ideally) or in a crisis type...
2021-07-2722 minSecond Half of Life PodcastThe Top Concerns in Estate PlanningThis episode is a rebroadcast of a show that aired as part of Elder Care Radio on WRSC 1390 AM in State College during 2020-21. It was produced by Forever Media. In this episode, Attorney Jenna Franks and Long-Term Planner Kristin Daugherty introduce the concept of estate planning to those that may be new to it or unfamiliar, and they go over some of the top concerns that people may have, and some of the top issues that arise in their everyday work of helping clients plan for their second half of life.
2021-07-2022 minSecond Half of Life PodcastSimple Solutions to Keep Assets Safe from Nursing Home CostsA nursing home, rehab stay, or even long-term or temporary in-home care resulting from a health crisis or emergency does not have to wreck havoc on your second half of life. In this podcast episode, Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty go through three simple solutions that you can do in relatively short time, with the assistance of some professionals, to make sure your assets are protected in the event of a health crisis. This is an audio recording of a virtual seminar originally presented live on June 10, 2021. To view a video of this...
2021-07-1245 minSecond Half of Life PodcastWhat is a Life Estate and How Does it Work?In this brief episode, Attorney Landon Hodges and Long-Term Care Planner Tammy Zilske discuss a Life Estate deed, how it works, and when it may be appropriate for someone to utilize as part of their estate planning process.
2021-07-0104 minSecond Half of Life PodcastDementia 101This episode is a rebroadcast of a show that aired as part of Elder Care Radio on WRSC 1390 AM in State College during 2020-21. It was produced by Forever Media. In it, Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty go over at a very basic level what you should know if you or a loved one have been diagnosed with dementia, or are exhibiting signs or symptoms of dementia such as cognitive decline.
2021-06-2824 minSecond Half of Life PodcastAnswering Some of the Most Frequently Asked Questions About Estate PlanningThis podcast episode is a recording of a virtual presentation given to the Adult Children of Aging Parents organization (ACAP) in May 2021 by Attorney Jenna Franks and Long-Term Planner Kristin Daugherty. They take some of the most frequent questions they get asked in their everyday work and answer them. Topics of discussion include legal and financial documents that everyone needs such as wills and Powers of Attorney, trusts, special needs planning, government benefits, long-term care, gifting, Alzheimer's and Dementia, and more. For more information on ACAP, visit http://www.acapcommunity.org/find-a-chapter/acap-centre-county/
2021-06-1456 minSecond Half of Life PodcastWhat if my Spouse Has to go into a Long-Term Care Facility?In this episode, a brief excerpt from a virtual happy hour event originally held May 12, 2021, Attorney Landon Hodges and Long-Term Care Planner Tammy Zilske talk about scenarios where one spouse has to be moved to a long-term care facility while the other spouse is still living at home. There are various financial considerations that go into such situations, and they can get especially complicated if Medicaid is involved with paying for the care of the spouse in the LTC facility. Landon and Tammy also discuss the importance of pre-planning and the emphasis our firm puts on it...
2021-06-0413 minSecond Half of Life PodcastDo Irrevocable and Revocable Trusts Protect Assets Equally?There are multiple types of trusts, but two of the most commonly used are revocable and irrevocable. In this brief podcast episode, an excerpt from a virtual happy hour event on May 12, Attorney Landon Hodges answers the question in the episode title regarding protection, gives some examples, and also explains who can hold the "key" to the trust in irrevocable trust situations.
2021-06-0107 minSecond Half of Life PodcastWhat Happens When You Inherit an IRA?The rules for inheriting an IRA or other qualified retirement account drastically changed at the beginning of 2020. In this brief episode, Attorney Landon Hodges outlines when happens when someone inherits a qualified retirement account from a decedent and discusses things that everyone should be aware of relating to being a beneficiary of such an asset and when doing their own estate planning. This is a clip from a virtual happy hour event originally held on May 12.
2021-05-2806 minSecond Half of Life PodcastThe Importance of Individualized Planning with a Team of Trusted AdvisorsIn this episode, an excerpt from a virtual happy hour event held on May 12, Attorney Landon Hodges and Long-Term Care Planner Tammy Zilske discuss how and why it is important to have a team of trusted advisors when doing your estate planning. Because estate planning is never one-size-fits-all, it is important that each client includes other experts when doing their planning. In addition to an elder law attorney and/or long-term care planner (if necessary), this could include a financial advisor, insurance representative, and others as appropriate. Landon and Tammy talk about how they all work together with our t...
2021-05-2510 minSecond Half of Life PodcastWhen the Diagnosis is Dementia: Three Action Steps You Should Take Right Now!Don’t allow an Alzheimer’s or Dementia diagnosis to devastate your life savings! If you or a loved one has been diagnosed with Alzheimer’s or Dementia, there is no more time to waste. The clock is ticking! With every passing second, more financial resources may be exploited. In this episode, Attorney Jenna Franks, Long-Term Care Planner Kristin Daugherty, and Specialized Care Planner Holly Reigh conduct a panel discussion in which they answer top questions about legal, tax, financial and care concerns, how to maintain control of your life, assets and decision-making, emotional and psychological support services, ways to pre...
2021-05-1752 minSecond Half of Life PodcastHow Our Firm Further Assists Our Clients with Alzheimer's and Dementia Beyond Legal ServicesOur law firm has always provided quality legal services to individuals that require them specifically due to receiving an Alzheimer's or Dementia diagnosis. While we continue providing these services, we recently stepped back and assessed how we can serve these clients and their families even better by going beyond just the legal services. Enter our new formal Alzheimer's and Dementia care coordination program, which was put together by our Long-Term Care Planner Kristin Daugherty, and our new Specialized Care Planner Holly Reigh. Both Kristin and Holly are also Certified Dementia Practitioners, and in this episode, they join Matt Beltz...
2021-05-1043 minSecond Half of Life PodcastHow to Communicate Your Final Wishes to Loved Ones Before a Crisis StrikesAn Emergency Room visit is not the time to designate a Power of Attorney! End-of-life decisions are unfortunately, inevitable. Sooner or later, we all will be faced with this daunting challenge. When the time comes, your family wants to make the right decision - the decision of YOUR choosing. In this episode, Attorney Julie Steinbacher, our firm's founder, and Dr. Alex Nesbitt, a geriatrician at UPMC Susquehanna, discuss ways you can have this difficult but necessary conversation with your loved ones, as well as things you should consider when making these decisions. Access the free...
2021-05-0345 minSecond Half of Life PodcastThe Financial Cost of Caregiving (via The Caregiver Community Podcast)There are lots of options for the long-term care for a loved one (or ourselves), whether additional services are brought into the home or the loved one moves into a congregant living community such as a continuous care retirement center (CCRC), skilled care, or memory care facility. However, the costs associated with each level of long-term care can be alarming, and raise all sorts of questions. In this episode, Attorney Jenna Franks, Long-Term Care Planner Kristin Daugherty, and Specialized Care Planner Holly Reigh join Frances S. Hall, the founder and Executive Director of Adult Children of Aging Parents (ACAP...
2021-04-2646 minSecond Half of Life PodcastThree Reasons Why Pre-Planning for the Second Half of Life Always Provides the Best OptionsDoing your estate planning ahead of time before a crisis hits will almost always give you a better outcome. In this episode, a recording of a virtual seminar originally presented live on March 23, 2021, Attorney Landon Hodges and Long-Term Care Planner Tammy Zilske discuss our firm's distinctive approach to planning for the second half of life that adapts to your ever-changing needs and leaves you better prepared for tomorrow. To view a video of this presentation, complete with PowerPoint slides, visit our YouTube channel.
2021-04-1949 minSecond Half of Life PodcastHow to Save Your Nest Egg from Being Stolen by the LeprechaunYou've done everything right and saved what you need for a comfortable retirement. Now, you need to make sure something unexpected like a health emergency doesn't eat into those savings. Attorney Jenna Franks and Long-Term Planner Kristin Daugherty show you how in this virtual seminar, originally presented on March 10, 2021. Hint - you don't need to leave it up to the "luck of the Irish" to successfully plan ahead for your second half of life! To view a video of this presentation with PowerPoint slides, visit our YouTube channel.
2021-04-1248 minSecond Half of Life PodcastThe 4 D's (or why you shouldn't give your house or other property to a relative for $1)At our elder law firm, we often get asked by clients, "why can't I just give my house (or another piece of valuable property) to my adult children or other relatives for $1 in order to avoid inheritance tax and other potential tax or future lien consequences?" In short, you can, but we generally don't recommend it. Why not? Because of the 4 "D's." What are the 4 D's? Long-Term Care Planner Tammy Zilske explains in this episode.
2021-04-0908 minSecond Half of Life PodcastWhat is Long-Term Care Planning and How do we Handle it?If you've listened to even just a few episodes of this podcast, you've probably heard the term "long-term care planning" more than once. Aside from the obvious definition - planning for long-term care - what exactly do we mean when we talk about long-term care planning and what does it entail? And what can you expect if you enlist our firm to assist with your long-term care planning? In this brief episode, Long-Term Care Planner Tammy Zilske summarizes what long-term care planning is and how our law firm generally does to assist our clients with it.
2021-04-0505 minSecond Half of Life PodcastHow Our Firm Works With Clients with Alzheimer's and DementiaIn this brief episode, Long-Term Care Planner Kristin Daugherty summarizes how our law firm works with clients that have received a diagnosis of Alzheimer's, Dementia, and some other conditions. We have always been a dementia-friendly law firm, but recently, we have brought on board a dementia care planner, Holly Reigh, who will be working with clients on non-legal issues related to the navigation and coordination of necessary care for these individuals.
2021-03-2104 minSecond Half of Life PodcastWhat to do if a Loved One is Already in a Nursing HomeSo, you have a spouse or other loved one that has had to go into a nursing home. But, you haven't done much (or any) estate planning. What can you do to make sure your assets are protected and your entire estate doesn't go toward the cost of care? There are ways that we can help you preserve your assets, even if you or a loved one is already in a nursing home. However, we can only do so if a couple of things are taken care of first. In this episode, Attorney Landon Hodges and Long-Term Care Planner...
2021-03-2010 minSecond Half of Life PodcastThe Most Common Tool We Use to Protect Client AssetsProtecting your assets from the potential future, or in some cases, current costs of long-term care is a key objective for many of our clients. In this podcast episode, Attorney Landon Hodges talks about the tool that our firm uses in many situations to accomplish that goal, and why and how it differs from straight-up gifting of assets to another individual.
2021-03-1910 minSecond Half of Life PodcastAvailable Benefits and Ways to Pay for Long-Term CareIn this podcast episode, Long-Term Care Planner Kristin Daugherty and Attorney Landon Hodges discuss the different ways that are available to help pay for long-term care, regardless of the type of long-term care that is needed. Types of care include in-home care, personal care, in a continuing care community, or the highest level of care - skilled nursing. Types of payment options include private pay, VA benefits, long-term care insurance - of which there are several types - and Medicaid benefits, as well as Medicare, although that is usually only a (very) short-term solution. Different ways to take advantage...
2021-03-1814 minSecond Half of Life PodcastAlzheimer’s Planning Part 5 – Prevention & Risk ReductionIn this final portion of the five-part series of short episodes centered on Alzheimer's planning, Attorney Julie Steinbacher speaks with Jeffrey Dauber, education and outreach coordinator for the Greater Pennsylvania chapter of the Alzheimer's Association. Unfortunately, Alzheimer's isn't entirely preventable at this point, despite an increase in research breakthroughs recently. However, in this episode, Julie and Jeffrey discuss some things that can be done to reduce the risk of Alzheimer's and slow its progression, namely staying cognitively challenged and physically active, and not being socially isolated. To watch a video of this talk, visit our YouTube channel.
2021-03-1208 minSecond Half of Life PodcastThe Three Secrets Nobody Tells You As You Enter Your Second Half of LifeTake the mystery out of planning ahead for tomorrow's challenges, as Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty share the secrets of planning for your second half of life in this virtual seminar originally presented on Jan. 26, 2021. Utilizing a new format for this seminar, Jenna and Kristin discuss essential estate planning documents, the best ways to preserve assets for your heirs, strategies to protect a spouse if the other spouse has to go into a nursing home, and much more. NOTE: The FREE strategy sessions referred to at the end of the presentation are always...
2021-03-0832 minSecond Half of Life PodcastAlzheimer's Planning Part 4 - Support ServicesIn part four of a five-part series of short episodes centered on Alzheimer's planning, Attorney Julie Steinbacher speaks with Jeffrey Dauber, education and outreach coordinator for the Greater Pennsylvania chapter of the Alzheimer's Association. In this episode, Julie and Jeffrey talk about the various services that are available to assist people that have received an Alzheimer's diagnosis and their families and caretakers. These include different people in the medical field, personal care and specialized assisted living facilities, in-home care programs, wavier programs, other specialized care programs, respite care for the caregivers, elder law attorneys and much more. They also e...
2021-03-0511 minSecond Half of Life PodcastAlzheimer’s Planning Part 3 – Care PlanningIn part three of this five-part series of short episodes centered on Alzheimer's planning, Attorney Julie Steinbacher speaks with Jeffrey Dauber, education and outreach coordinator for the Greater Pennsylvania chapter of the Alzheimer's Association. In this episode, Julie and Jeffrey discuss the importance of planning for current and future care needs related to an Alzheimer's diagnosis. There is a need to take into consideration several factors, including but not limited to legal and financial ramifications, caregiver stress, and safety. They also touch on some do's and don't's when it comes to caring for a family member with Alzheimer's and...
2021-03-0109 minSecond Half of Life PodcastHow to Strategically Position Your Estate Plan in an Ever-Evolving Political ClimateOriginally recorded just a few days prior to the 2021 presidential inauguration, but with information that should prove to last far beyond the standard four or eight years of a presidential or governor's term in office, this episode is for you if you'd like to make sure your estate is protected regardless of who or which political party is in power. Attorney Julie Steinbacher helps you uncover important legal steps to consider to safeguard your second half of life, no matter who holds the levers of power in Washington or Harrisburg. Julie discusses four things that you need to know...
2021-02-2255 minSecond Half of Life PodcastAlzheimer’s Planning Part 2 – Disease Navigation through the StagesIn this episode, the second of a five-part series of short episodes centered on Alzheimer's planning, Attorney Julie Steinbacher speaks with Jeffrey Dauber, education and outreach coordinator for the Greater Pennsylvania chapter of the Alzheimer's Association. They go through the different stages of Alzheimer's - early, middle and late, or sometimes also referred to mild, moderate and severe - and some of the symptoms of each stage. They also discuss things that family and caretakers need to consider with each stage, as well as the legal impact and when it is important to do what from a legal standpoint...
2021-02-1609 minSecond Half of Life PodcastThe Greatest Gift You Can Give a Loved OneWhat is the greatest gift you can give a loved one? While this is certainly subjective, and this questions can have different answers at different times in a person's life, our law firm strongly believes that the greatest gift you can give a loved one is peace of mind and protection. How can this be accomplished? Well, listen to this episode for a detailed explanation as it relates to estate planning, as Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty discuss the basics of estate planning, and how addressing each one of these foundational pieces of the estate...
2021-02-0952 minSecond Half of Life PodcastAlzheimer’s Planning Part 1 – Disease Impact & the Importance of Early & Accurate DiagnosisIn this episode, the first of a five-part series of short episodes centered on Alzheimer's planning, Attorney Julie Steinbacher speaks with Jeffrey Dauber, education and outreach coordinator for the Greater Pennsylvania chapter of the Alzheimer's Association. They discuss what exactly is Alzheimer's, the importance of getting an accurate diagnosis and an early diagnosis, some symptoms of the disease, its impact on others and understanding this impact. To watch a video of this talk, visit our YouTube channel. For additional resources on Alzheimer's, visit Alz.org. Check back in the coming weeks for the o...
2021-02-0209 minSecond Half of Life PodcastPreview of New Virtual SeminarSteinbacher, Goodall & Yurchak is debuting some new virtual seminar topics and formats in 2021. Our first brand new seminar is scheduled to debut tomorrow, Jan. 26, 2021. Here is a brief preview of this new seminar, which will feature Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty presenting "The Three Secrets Nobody Tells You as You Enter Your Second Half of Life." The full presentation will run a little under an hour, between approximately 45-55 minutes. If you like what you hear, you can be among the first to see and hear it by registering for this and other...
2021-01-2509 minSecond Half of Life PodcastThe SECURE Act and its Effect on Long-Term Care PlanningThe SECURE Act went into effect about a year ago, on Jan. 1, 2020. In this episode, Attorney Jenna Franks discusses the SECURE Act's effect on estate planning, based on the firm's experience in planning with clients over the last year. While originally given to a group of professionals, this presentation can be helpful for those about to begin their estate planning and those that have already done some planning, but who could be affected by the provisions in the SECURE Act. Jenna also gives a few case examples of how the SECURE Act has affected hypothetical clients with certain IRAs...
2021-01-1142 minSecond Half of Life PodcastAdvancing Forward Amid Crisis: Things for Business Owners to Keep in Mind for 2021Just as she kicked off our rebranded podcast earlier this year while we were in the midst of the COVID-19 shutdown in April, Attorney Julie Steinbacher, our firm's founder and owner, now wraps up our first podcast season with this final episode of 2020, which appropriately looks ahead to 2021 from a small business perspective in light of all that has happened in 2020. Among the topics discussed are COVID-19 vaccinations from an employer standpoint, caring for employees and the importance of procedures, grants, PPP loan forgiveness, and the Families First Coronavirus Response Act (FFCRA), which is currently scheduled to expire after...
2020-12-2843 minSecond Half of Life PodcastHaving Difficult Estate Planning Conversations with FamilyOf course we always recommend that people are proactive rather than reactive with respect to doing their estate planning and discussing it with other loved ones as appropriate. Generally speaking, those that are proactive as opposed to reactive will have better outcomes. However, as a practical matter, it's seldom easy to talk about with your children what you want to happen after you pass away, nor is it easy for an adult child to bring up the subject with their aging parents. In this brief podcast episode, an excerpt from a virtual happy hour discussion held November 18, 2020, Long-Term Care...
2020-12-2007 minSecond Half of Life PodcastWhat if a Family Member Needs Care?In this episode, a brief clip from a virtual happy hour discussion held on November 18, 2020, Long-Term Care Planner Kristin Daugherty talks about what you should do if, after visiting aging family members over the holidays, you notice a decline in a loved one's health - either physical or mental. She also discusses what sets elder law firms like ours apart.
2020-12-1906 minSecond Half of Life PodcastBasic Estate Planning (in just five minutes)What do we mean when we talk about estate planning? Well, there's a lot that it entails, and to get into everything in depth, it takes a lot longer than just five minutes. But, in this clip from a virtual happy hour event event from November 18, 2020, Attorney Jenna Franks gives a short version of what we're generally talking about when we refer to estate planning. Jenna gives a few tips on what is most important to be aware of regarding Wills and Powers of Attorney, and also gives a tip about an unconventional place that some people keep their...
2020-12-1805 minSecond Half of Life PodcastDoes Your Power of Attorney Have Everything it Needs?In this short clip from a virtual happy hour discussion held with a private group in October, Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty talk about the importance of not only have a Power of Attorney, but also that the document is done correctly and accounts for all reasonably possible situations. Kristin also gives an example of something that all financial POAs should have and if they don't, it could create a major problem when trying to protect assets from long-term care costs.
2020-11-2705 minSecond Half of Life PodcastStrategies to Protect & Provide in a Health CrisisA bad fall, stroke, dementia diagnosis, or other unexpected illness are things beyond one's control that could create a need for nursing home care, either temporarily or for the long term. But are you prepared for the financial ramifications of requiring nursing home care, either for yourself or a loved one?In this episode, Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty discuss legal strategies that are available to everyone to help minimize the financial and emotional impact of a healthcare crisis. Among the topics they discuss are what long-term care insurance covers, what both Medicaid...
2020-11-201h 12Second Half of Life PodcastPlanning for the Second Half of Life: What You Need to Know About IRAs, Trusts & TaxesIn this podcast episode, an audio recording of a virtual seminar originally presented to a private audience in September 2020, Attorney Julie Steinbacher, founding shareholder of Steinbacher, Goodall & Yurchak, discusses everything one would need to know about planning for the second half of life, with a particular emphasis on IRAs, trusts and taxes. She begins the presentation by talking about the foundational documents that everyone should have, such as Wills and Powers of Attorney, and goes into some more detail about the different types of POAs. In the second half of the episode, she then discusses trusts and their objectives, IR...
2020-11-131h 04Second Half of Life PodcastTypes of Long-Term Care and How to Pay for ThemWhat if you or a family member have an unexpected health crisis, such as a fall, stroke, accident, or dementia diagnosis? What if this crisis leave you or your loved one in need of some form of long-term care? What are your options, and how will you pay for this care?In this episode, a recording of part of an informal virtual discussion held in September 2020, Kristin Daugherty and Tammy Zilske, our firm's two Long-Term Care Planners, discuss the different levels of long-term care and what each entails, as well as how each is or can be...
2020-11-0631 minSecond Half of Life PodcastConsequences of not Having Good Power of Attorney DocumentsSo, you have a Power of Attorney. First of all - what kind of POA is it - financial, healthcare, living will, mental health, or all of the above? What is in it? How long ago was it drafted? Have any of your personal circumstances changed since it was originally done? It is critically important to review your POAs periodically, because if there are critical components missing, it can greatly affect someone's ability to carry out the wishes of an incapacitated loved one. It can also affect a elder law attorney's ability to help both parties, which could potentially...
2020-11-0202 minSecond Half of Life PodcastMedicaid Compliant AnnuitiesIn this brief episode, a clip from a virtual event in September titled "Piecing Together the Long-Term Care Puzzle," Long-Term Care Planner Tammy Zilske talks about the use of a Medicaid Compliant Annuity to help pay for the cost of long-term care and to help qualify an individual for Medicaid benefits to pay for the cost of long-term care. The rules for such a product are complicated, so it is recommended that you consult an elder law attorney (like our firm!) before purchasing one.
2020-11-0103 minSecond Half of Life PodcastCan Children be Held Liable for Their Parents' Nursing Home Bills?Can adult children be held liable for their parents' nursing home bills? The short answer is yes, but this usually only happens as a last resort and in situations when there has been little or no planning done, or the adult child completely disappears or stops communicating with the nursing home. Our firm's long-term care planners Kristin Daugherty and Tammy Zilske explain more about the Pennsylvania law that allows this, the relatively rare situations in which this may happen and how to avoid such a situation (it starts with having a plan for pay for long-term care costs, which...
2020-10-3108 minSecond Half of Life PodcastExplaining the Medicaid Five-Year LookbackNursing home care costs nearly $11k per month in Pennsylvania in 2020. So, what happens if you or a loved one finds yourself in need of long-term care, either expectedly or unexpectedly, but especially if this circumstance hasn't been planned for previously? You'll either need to pay for it out of your own (or your family's) pocket, using any possible long-term care insurance you may have to at least partially offset those costs, or you'll need to apply for Medicaid benefits for these long-term care costs so that your life savings aren't depleted over time, and you have nothing to p...
2020-10-3011 minSecond Half of Life PodcastThe Basics of Estate PlanningAttorney Julie Steinbacher, the founding shareholder of Steinbacher, Goodall & Yurchak, gives this comprehensive presentation about the many aspects of estate planning. She uses a number of personal stories and anecdotes from her nearly 20 years of practice as an elder law attorney, social worker and long-term care facility owner, to relate to the audience and impress the importance of developing each part of an estate plan for your second half of life. An estate plan is more than just a Will and/or Power of Attorney (although both of those documents are extremely important as well), and Julie explains how...
2020-10-231h 39Second Half of Life PodcastLevels of Long-Term CareIn this podcast episode, a small portion of our Wine & Wills virtual event from Sept. 1, Long-Term Care Planner Kristin Daugherty explains the three levels of long-term care and what characterizes each of them, how they are paid for differently in some cases in terms of which are eligible to paid for by Medicaid, and how each individual's needs differ, as well as how each individual pays for such care. If you enjoyed this informative episode about different types of long-term care, subscribe to our podcast and receive notifications about new podcast episodes. Over the next month, there w...
2020-10-1507 minSecond Half of Life PodcastPutting an Investment Account into a TrustAttorney Jenna Franks briefly explains the tax situation if an investment account (not to be confused with a qualified retirement plan) is put into a trust, and what our firm generally does to keep the tax rate on such an account as low as possible. This is a brief clip from our Wine & Wills virtual event held on Sept. 1.
2020-10-1401 minSecond Half of Life PodcastQualifying for Medicaid to Pay for Long Term Care CostsIn this episode, a clip from our Wine & Wills virtual event on Sept. 1, Long-Term Planner Kristin Daugherty discusses using Medicaid to pay for long-term care costs. In addition to the better-known version of Medicaid (also called medical assistance), which is used by people of a certain income level for general healthcare, Medicaid is and can also be used by people of varying asset levels to pay for long-term care costs. So, how can you qualify for Medicaid to pay for long-term care if you have too many assets? The short answer is to give some of these assets away...
2020-10-1305 minSecond Half of Life PodcastAll About Powers of Attorney (in under 10 minutes)In this clip from our Wine & Wills virtual event on Sept. 1, Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty discuss Powers of Attorney and why some POAs don't always contain everything they need to in order to account for possible future scenarios (our office strives to make sure this doesn't happen). They also summarize the four different types of POAs, discuss when each is effective, and talk about choosing agents for POAs and how and why they don't need to be the same person for each type of POA.
2020-10-1209 minSecond Half of Life PodcastWhy not put IRAs and other retirement accounts into a trust?Among the most common reasons for using a trust are to protect assets against the cost of long-term care, other creditors and potentially to avoid certain types of taxes (but not all). So, why then would it not be advisable in many situations to put IRAs, 401(k)s, and other types of qualified retirement savings accounts into a trust? Long-Term Care Planner Kristin Daugherty and Attorney Jenna Franks give a very simple explanation in this clip from our Wine & Wills virtual event on Sept. 1. However, they also offer a scenario when it may be advisable to do so. In...
2020-10-1102 minSecond Half of Life PodcastShould I give my house to my child for $1?Why not sell your house to your adult child for $1 as a way to protect that asset from creditors or reduce your estate tax? Long-Term Care Planner Kristin Daugherty and Attorney Jenna Franks explain why this isn't a good idea and why our law firm generally advises against this practice. They also offer an alternative that may accomplish the same goals as selling your home for $1, only without the potential downside.
2020-10-1015 minSecond Half of Life PodcastWhy are Wills important and what types of assets generally aren't covered in Wills?In this clip from our Wine & Wills virtual event on Sept. 1, Attorney Jenna Franks explains why Wills are important to have for everyone, and also which types of assets, which have their own beneficiary designations, supersede whatever may be written in a Will.
2020-10-0904 minSecond Half of Life PodcastWhat to put into a TrustIn this brief clip from our Wine & Wills Virtual Happy Hour held on July 21, 2020, Attorney Landon Hodges talks about what type of assets are generally best to put into a trust, and what specific assets that aren't advisable to put into a trust. He also touches on putting an investment account into a trust in which the principle is protected and irrevocable, but any income generated by it is able to be withdrawn.
2020-10-0503 minSecond Half of Life PodcastHow Your Business or Family Can Benefit in a Low-Interest Rate EnvironmentInterest rates were already pretty low at the beginning of 2020, and the COVID-19 pandemic has now pushed interest rates to record lows. How can a small business owner or individual take advantage of these interest rates? One way of doing so is a Grantor Retained Annuity Trust (GRAT). William Post of John G. Ullman & Associates leads a discussion about GRATs featuring Attorneys Julie Steinbacher and Landon Hodges of Steinbacher, Goodall & Yurchak, and Jason Nickerson, CFP® of John G. Ullman & Associates. If you've never heard of a GRAT or even if you have but don't know much about it, this i...
2020-06-2557 minSecond Half of Life PodcastA Conversation on End-of-Life ChoicesIn this recording of a virtual seminar presented on April 16, 2020 in conjunction with National Healthcare Decisions Day, Attorney Julie Steinbacher of Steinbacher, Goodall & Yurchak, and Dr. Alexander Nesbitt, geriatrician at UPMC Susquehanna, discuss the importance of making end-of-life preferences known to your family and healthcare professionals. Are you aware that when the time comes, 50% of people are physically or mentally unable to make their own end-of-life decisions? It is essential that your family and health care professionals know your preferences and values about these important decisions. Dr. Nesbitt discusses things from a healthcare professional's point of view, while Julie...
2020-04-2752 min