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Estate Planning
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More than 1 million Baby Boomers are now turning 60 years old every year, according to the latest statistics.
That number may already include you … or you could soon be joining those who have already reached that milestone.
Either way, one of the most important things you can do now is to take steps to secure your retirement assets.
There is no escaping the fact that people today are living longer, but with longer life comes a whole host of new questions, such as:
- Will you outlive your money?
- How can you best preserve and protect your assets?
- How does Medicaid factor in to all of this?
- Do you need long term care insurance?
- How can you give assets to your children and grandchildren without losing total control of your finances?
- Should you purchase an annuity?
- Will you be able to afford a nursing home or assisted living facility?
- And much, much more!
Our attorneys have extensive experience crafting estate planning solutions that ensure your assets are protected.
We can help you with all of the following:
- Estate planning and who needs it
- Federal estate taxes and who pays them
- What a trustee does
- What a trust is and why you need to know about it
- And much, much more
Plus, our experienced attorneys’ knowledge of Kentucky Medicaid regulations will help you protect your life’s savings (as well as your home) and maybe even enable you to become eligible for Medicaid sooner!
Protect the Wealth You’ve Worked so Hard to Amass … with Commonwealth Elder Law, PLLC
When you die your ‘estate’ (everything you own) needs to be redistributed. By default that distribution is done in the probate system where the fees are set by the court based on the value of your estate.
When you die your ‘estate’ (everything you own) needs to be redistributed. By default that distribution is done in the probate system where the fees are set by the court based on the value of your estate.
At Commonwealth Elder Law, PLLC we can show you:
- Advanced life insurance options and financial maneuvers that can be taken if you become incapacitated along with gift planning methods to reduce estate taxes.
- How to shift assets to your children now so that any future appreciation or growth will be out of your estate and not subject to estate taxes, while you still maintain control.
- How to form the appropriate business entity (such as LLC, LP, etc.) to protect, transfer and shield assets where appropriate.
- How to protect your children against the liability risk of owning your property before they are ready and before you give them full control.
Commonwealth Elder Law, PLLC is a top estate planning firm in the state of Kentucky. We offer a team approach, with certified estate planning specialists and we can handle estates of any size, including advanced estates.
Family dynamics can make an estate plan priceless. Be sure you’re in control before any family fights break out or the courty system dices up your hard earned life savings!
To schedule a consultation, click here.
Protect Your Estate Now!
We can also help you get a will that keeps your heirs from going through a nasty “will contest.”
A will contest is a legal challenge to the validity of a will or of any of the terms of a will. Such challenges are usually posed by family members of the deceased who feel that they have been cheated out of their inheritance or some portion of their inheritance.
If the family members feel they have something to gain by challenging the terms of the will, a legal contest is the best way to determine if the will is actually valid. Will challenges are most common in wealthy families due to the extensive assets and large monetary amounts often involved.
But they can happen in any family – and we’re sure you don’t want your family members going through something like that.
To get experienced help with your estate planning, click here to schedule a consultation with Commonwealth Elder Law now.
Other Practice Areas
Medicaid Planning
Ensure you save money over the long run as well as get the best care – for yourself or a loved one!
VA Planning
You were there when your country needed you – now get the benefits and services you deserve for that service.
Nursing Home Planning
Help ease the costs and burdens of nursing home care.
Estate Planning
Build a carefully designed estate plan that ensures your assets are protected and your heirs taken care of.
Probate
Get the support and experienced assistance you need to ensure the best possible probate outcome.
Guardianship
Become a legal guardian of someone
who is no longer able to care for
himself or herself.
Special Needs Planning
Make sure a loved one with
special needs is taken care of
in the future.
Recognized Memberships:
Contact to Discuss Your Legal Needs
Our firm offers comprehensive elder law services, including estate planning and probate. To schedule an appointment or to learn more about our firm, call us at 859-780-5748, or send us an email.
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