Author Archives: George H. Lovett, Esq.

MEDICAID TRUSTS By: George H. Lovett               If one is making gifts as part of Medicaid/nursing home planning, then making the gifts to the trustee of a Medicaid trust is a safer alternative than making the gifts directly… Read more

If you can’t handle your money, then neither your spouse, nor anyone else, can do so. This could be a disaster! Checks could not be deposited or written, money could not be withdrawn, your house and cars could not be sold, and lawsuits could not… Read more

If you don’t have a will or trust, or do not properly title your assets, then you lose the chance to help after you’re gone. The consequences could be worse than you think…. Read more

Each state controls and supervises the distribution of the probate assets of its deceased residents. This article provides a brief summary of how the process works in Ohio…. Read more

Many people do not wish to prolong their lives if they are seriously ill, their death is close at hand, and they have no realistic chance of recovering. Under these circumstances, continuing life-sustaining treatment can escalate the medical… Read more

Oftentimes a living trust is desirable. It avoids the fees, delay, and publicity of probate. Living trusts also protect beneficiaries in ways that a will cannot do. They can also reduce or eliminate federal estate taxes. The downside is that they… Read more

Family Limited Partnerships (FLPs) are partnerships where family members own the general and limited interests. The main purpose of this type of entity is to reduce the value of assets subject to the federal estate or gift tax…. Read more

A nursing home stay marks a change in life. The transition is easier if you are well prepared. Of course, arranging your assets is important. And, you need a will, living will, and powers of attorney. The proper state of mind is crucial, too…. Read more