David Shotwell specializes in home visits, and he does not charge travel time to come and visit you at your home. One of the largest stumbling blocks seniors face today is access to information and resources. Many seniors find it difficult to impossible to get answers they need. This directly affects your quality of life. Home visits provide convenience and security, and eliminate the burden of traveling. Home visits assist the Elder Lawyer as well.
They do not have to worry if you brought all of your previous estate planning documents, financial documents, or other documentation necessary to make an immediate plan, regardless of your need. David Shotwell's commitment of service, such as offering home visits, evening and weekend appointments, break away from the traditional stigma that a lawyer is too busy to act quickly and efficiently.
With some simple pre planning, It is your choice
Without choosing decision makers, another person will make these decisions for you when you become incapacitated. Another person will decide where and how you live, and how you pay for it. If you leave these decisions to people you do not know or trust, there is a real possibility you will have a diminished (or no) estate to pass to your children, or other heirs due to the high costs of long term care, legal fees, etc.
For example, a simple durable power of attorney, a document where you decide your decision makers upon your incapacity, has the capacity to completely avoid expensive guardianship proceedings, and allow individuals you trust to make important health care and financial decisions.
Asset preservation
The financial burden of growing health care costs, combined with longevity, produces a need to better plan for your quality of life while receiving care, or passing your assets on to the next generation. Those who work their entire lives, pay off their home, and may have a modest to moderate sized financial portfolio may have to face the possibility of paying over $7,000 a month, per person, for long term care. Most individuals cannot absorb this cost for a significant period of time. There is currently no adequate government solution to this problem, other than spending yourself to near impoverishment and then qualifying for Medicaid, where the state will put a lien on your home for repayment.
David Shotwell's practice centers around (1) maintaining your accustomed quality of life while (2) providing financial security against the possibility of future (or present) long term care costs.
Trusts
It is not true that a Trust is the most cost effective, safe, estate planning tool to avoid legal and financial pitfalls for seniors. Do not let any advertisement tell you that there is one solution for all individuals, especially all seniors. A Trust is in many cases the most expensive estate planning tool, and may do nothing to assist in preserving your assets against long term care costs.
Depending on your present and future needs, a Trust can be revocable or irrevocable. They can be designed to avoid taxes, family conflict, or probate costs. Trusts are very flexible tools, but they are by no means the absolute answer.
Fact: If you have a revocable living Trust, the State of Washington may consider all assets in that Trust an available asset for the purposes of qualifying for Medicaid benefits. This means that your Trust, while possibly assisting you in some areas, may do nothing to guarantee financial security against long term care costs. I suggest that if you have a Revocable Living Trust, that you meet with David Shotwell to discuss the benefits and pitfalls that Trust presents to you, now or in the future.
Gifting Many individuals believe that if they gift their assets to another, such as one of their children, they protect themselves (and the money) from expensive long term care costs. THIS IS INCORRECT. Once an asset is gifted, it may no longer be part of your estate passing through your Will. If your taxable estate is beyond the exemption amount upon your death, there may be tax penalties for making large lump sum gifts. When attempting to qualify for Medicaid long term care benefits, any gifts made in the last five (5) years may result in a denial of Medicaid benefits and a period of ineligibility assessed against you. Moreover, there may be additional penalties against those who receive gifts and are unable to assist with your long term care costs while waiting for the period of ineligibility to expire.
It is essential that you talk with an elder lawyer with an expertise in all of these issues prior to acting in this regard.
The maze of legal issues can be complex. However, if you plan for these events prior to incapacity, you preserve your ability to make important decisions about your life, possibly saving not only your quality of life, but your assets as well.
If you are interested in speaking to Attorney David Shotwell, he may be reached at (509) 499-9920. This number guarantees personal service directly from the attorney. You will not be contacted by legal assistants, associates, or other employees. David Shotwell works on each case on an individual basis.
*The opinions offered in this article are for your consideration only. To further explore this topic as it relates to you specifically, David Shotwell encourages you to contact a trusted professional, or him directly at (509) 499-9920*