Attendees of this workshop will learn about the most common estate planning mistakes and what solutions are available to avoid them. Regardless of your family status or financial net worth, you will learn about planning strategies that help you:

• Maintain control of your estate during life and plan for any period of disability
• Create an efficient wealth transfer plan at death
• Make sure that your beneficiaries are protected from themselves and others
• Avoid intra-family disputes
• Have peace of mind knowing that loves ones will be protected and cared for

In New York State, the annual cost of nursing home care ranges from approximately $90,000.00 to over $150,000.00, and it is climbing each year! That is approximately $240.00 to $410.00, per day. If you choose to stay at home, where most of us would prefer to be, and hire home health aides, the cost of your care could be even more. Home health care costs vary widely, but agencies charge anywhere from $18 to $30 per hour for home health aides. In some cases, people pay over $200,000 per year for 24 hour-a-day home care. What many people fail to realize is that their health insurance and Medicare will not cover the cost of long-term care, whether at home, in assisted living or in a nursing facility. Paying for long-term care is a personal responsibility, which has become a primary concern for all age groups across our state and the nation.

In this informative workshop, learn how to address the potential financial devastation a long-term care event can cause a family before a crisis occurs. You will learn how proactive planning through the use of various asset protection strategies can protect your assets and help you qualify for long term care benefits.

Retirement accounts often constitute a significant portion of a client’s estate, representing years of hard work, savings, and savvy investing in a tax-deferred investment portfolio. For many clients the balances in their retirement accounts will be among the most valuable assets in the legacy they leave for beneficiaries. In June of 2014, the U.S. Supreme Court made it clear that inherited IRAs are not protected from creditors’ claims. More than ever before it is essential to understand the interplay between retirement accounts and proactive strategies to safeguard IRAs as they pass into the hands of beneficiaries, and to maximize long term income tax deferred growth.

By participating in this workshop, you will learn how to coordinate your IRAs and Retirement Plans with a comprehensive estate plan including:

• Important asset protection and income tax planning strategies that are available and by failing to plan, the opportunities may be missed to protect your assets
• IRA specific strategies including whether an IRA Legacy Trust is a good choice
• A discussion on who the beneficiary of your retirement plan should be
• The benefits of a comprehensive estate plan to protect family inheritances from being lost to creditors, bad business dealings and divorcing spouses