Top 5 Estate Planning Myths

Share Button

With the dawning of do-it-yourself estate planning and online services, myths and misunderstandings abound. While these services can be helpful in some limited scenarios, it takes a truly knowledgeable estate planning attorney to separate fact from fiction.

As you review the top five estate planning myths described below, consider whether you have fallen prey to some of these misguided notions, and be sure to contact Lovett & Lovett Co., LPA for estate planning help today.

Myth 1: Estate planning is one-size-fits-all

One of the most frustrating aspects of DIY estate planning techniques is the notion that all plans—and clients—are the same. By contrast, each individual and family requires a custom-drafted estate plan to meet the individual needs and wishes of that particular individual. While some estate plans are relatively simple and straightforward, others are not (by a long shot).

As you consider your estate plan, remember that what may seem like a simple idea at first may develop into a much more complex matter later, and well-drafted documents are an essential component in avoiding hassle and conflict down the road.

[Read more…]

Share Button

Pros and Cons – Nursing Home vs. Assisted Living Facility

Share Button

Nursing Home PlanningWhen the time comes for you or a family member to move into a facility because you require assistance with your personal care and/or medical care, making the decision between an Ohio nursing home and an Ohio assisted living facility can be difficult. A nursing home and an assisted living facility both have pros and cons. Sometimes, the pros and cons of each choice depend on the unique facts and circumstances of your situation.

Our Ohio nursing home attorneys can help you and your family as you try to decide between a nursing home and an assisted living facility by reviewing the pros and cons of each type of facility. We can also help you plan for the eventual move to a nursing home or assisted living facility to protect your assets and take advantage of the benefits provided by Medicaid. [Read more…]

Share Button

Study Shows Many with Dementia Still in Charge of Couple’s Finances

Share Button

Financial management | Estate Planning Lawyer | Dayton, OH | Lovett & Lovett Co., LPAWhen part of a couple, many people divvy up everyday responsibilities according to preference or aptitude. One spouse will mow the lawn, while the other will do the dishes. This happens often with regard to the family budget: one spouse, who either enjoys or is good at managing money, will take care of the finances.

But what happens when the spouse who has traditionally handled the finances is diagnosed with dementia or Alzheimer’s? [Read more…]

Share Button

Cleaning Out the Parents’ House without Causing a Family Feud

Share Button

House | Estate Planning | Dayton, OH | Lovett & Lovett Co., LPACleaning out the parents’ home after their passing is often an incredibly difficult, emotional, and taxing experience. The kids have to do all of the things that they would if they were spring cleaning their own houses, but the similarities end there.

When the kids clean out their parents’ house, they have to sort through years’ worth of someone else’s possessions.  These possessions may vary in value, both monetarily and sentimentally—and this is where a family feud can begin. [Read more…]

Share Button

Casey Kasem’s Family Battled for Control of His Care

Share Button

Casey Kasem | Elder Law Attorney | Dayton, OH | Lovett & Lovett Co., LPACasey Kasem, as you probably already know, was a beloved icon in American radio and television: he was the host of American Top 40, American Top 20, and American Top 10 from the 1970s through his retirement several years ago. He was also the voice of Shaggy in Scooby-Doo.

Sadly, Casey Kasem was diagnosed with Lewy body dementia, the second-most common from of dementia after Alzheimer’s. [Read more…]

Share Button

Dealing with Caregiver Stress

Share Button
Caregiver | Elder Law Attorney | Dayton, OH

Photo Credit: a4gpa via Compfight cc

In America, more than 65 million people are providing care to a loved one, whether a spouse, parent, or other family member. That number is three times what it used to be 15 years ago, according to NPR.

Many of these people are providing care because they would rather not put their loved one in a nursing home or because they can’t afford it.

This decision is a very personal one, and families should do what they think is best for them. [Read more…]

Share Button

Mickey Rooney’s Estate Leads to Conflict

Share Button

Mickey Rooney | Estate Planning Lawyer | Dayton, OH | Lovett & Lovett Co., LPAMickey Rooney, whose career spanned an impressive nine decades, passed away recently of natural causes.

Unfortunately, conflict started before his family had even had his funeral. This doesn’t come as a surprise: Mickey had been married eight times and had nine children; he disinherited all of them.

However, what does come as a surprise is the matter of the conflict. His disinherited family members weren’t fighting over the estate itself, as it was only worth about $18,000.

Instead, his family was fighting over where he would be buried.

His wife, Jan, and her son, Christopher Aber, wanted Rooney to be interred at Westlake Village Cemetery next to a plot for Jan. [Read more…]

Share Button

Long-Term Care Insurance: What You Should Know

Share Button

Long-term Care Insurance | Elder Law Attorney | Dayton, OH | Lovett & Lovett Co., LPAIf you have a 401(k) or other retirement savings plan, you may think that you don’t need long-term care insurance. After all, won’t your 401(k) or retirement savings plan take care of any nursing home or assisted living facility expenses? The answer is, well, maybe. However, long-term care insurance, much like home or auto insurance, is a safety net. It’s there to protect you from the unexpected. Here are some things you should know about long-term care insurance:

If you don’t have long-term care insurance, you have two options to fund your nursing home or assisted living facility stay: personal assets or, if you can qualify, Medicaid. [Read more…]

Share Button

Tips for Picking the Best and Safest Nursing Home

Share Button

Older woman | Estate Planning Lawyers | Dayton, OHThe closure of Carlton Manor, a Fayette County nursing home, due to failed inspections and suspected abuse, has raised questions for local residents about how to select a nursing home. Moving yourself or a relative that can no longer live independently into a nursing home is a big decision and a big change. Choosing a nursing home is a lot like buying a house, in that it takes time, patience, and perseverance. Here are some tips to help you pick the best and safest nursing home for yourself or a loved one.

Know the Laws in Your State: Look into laws regarding nursing homes in your state. Can you find out if the nursing home you are looking at has failed any inspections? What are the laws about housing criminals? For example, in the state of Ohio, nursing home residents do not have to be notified when a sexual offender moves into the nursing home. [Read more…]

Share Button

State Closes Fayette County Nursing Home

Share Button

Older woman | Estate Planning Lawyers | Dayton, OHIf you watch the news or read the paper on a semi-regular basis, you’ve probably heard about crime rates and overpopulation in the prison system. Have you ever wondered what happens to criminals when they get old and can no longer live independently? What about people that aren’t necessarily criminals but are difficult to place for other reasons, like mental health problems? Where do they go? Well, up until mid-February, in Ohio, many of them went to Carlton Manor in Washington Court House.

Carlton Manor, which had become a place notorious for accepting residents that were otherwise difficult to place, officially closed in mid-February. The last resident vacated on Valentine’s Day. [Read more…]

Share Button