Tag: estate planning

Elizabeth L. Perla Speaks to Residence of Franciscan Village

On January 19, 2015, Cleveland Attorney Elizabeth L. Perla of the Law Offices of Randall M. Perla spoke to residents of the Franciscan Village of Cleveland, Ohio, which offers independent living for seniors. At the talk, Ms. Perla touched upon issues of Medicaid, including the use of Medicaid to pay for long-term nursing care, eligibility for Medicaid and Medicaid planning opportunities. She also reviewed basic estate planning documents including the Health Care Power of Attorney and Living Will, Financial Power of Attorney, Living Trust and Last Will and Testament. The session gave residents… Read the rest

The Basic Estate Plan that Every Parent Should Have

It is certainly true that no one likes to think about death or dying.  But it is also true that everyone dies, and unfortunately some leave this earth far too soon.  Estate Planning is not morbid.  It is responsible.  We don’t avoid buying health insurance because it reminds us that we may get sick.  In the same way, we should not avoid estate planning.  After all, estate planning is an insurance policy for our loved ones.    

Remember, estate planning isn’t for you, it is for the people you leave behind.   

There are several key questions that you need to ask yourself.

1.)    Who would I want to care… Read the rest

When Attempts to Avoid Probate Go Very Wrong

Probate is seen by most as a very negative process and one to be avoided at all cost.  Probate is not the big, bad wolf, it is simply the legal process that takes places after someone dies.  The primary purpose of the probate process is to pay the deceased person’s debts and taxes and transfer his property to his heirs and beneficiaries.  True, probate is time consuming and can be costly.  However, sometimes an attempt to avoid probate can end up costing a person much more.

Example- John, hearing about the horrors of probate, decides to gift his home, which he purchased in 1951, to his children now,… Read the rest

Babyboomers Need to Talk to Their Aging Parents about a Long-term Care Plan

We would all like our parents to live long, healthy, independent lives.  However, the reality is that although many of our parents will live long lives, most will not be able to stay healthy and independent forever.  In fact, 70% of people over age 65 will need long term care during their lifetimes.  Unfortunately, we cannot turn the clock back for our parents, but we can help them plan for the future.   And the truth of the matter is that although planning is important for our parents, it is even more essential for us, the children, who are often left with an ailing parent and no game plan.  Here is a brief… Read the rest