Knowing where to go for counsel may seem like a daunting task. The trick is to determine who you can trust to do the right thing for you. It is essential to know that your unique needs are being addressed, versus purchasing standardized documentation. It is important to find someone who understands planning, the law and your taxes and wealth as well. At the Law Offices of Larry G. Copenbarger, Larry Copenbarger and his capable team understand these concerns, as they have been educating, creating estate plans, and practicing law for over 25 years. Serving both families and professionals alike, the firm assures that all of these areas are addressed and more. The firm covers a wide array of important needs, including:
- Estate Planning
- Tax Planning
- Legacy Planning
- Business Purchase
- Asset Protection
- VA Benefit Counsel
Purpose for Estate Planning: There are specific legal processes that must be adhered to for transfering property. If you give away assets during your lifetime, including money or cash, you may be subject to a Federal Gift Tax. Additionally, when you die, you or your estate may be subject to Federal Estate Taxes.
A properly designed estate plan works to assure that your assets are distributed according to your wishes after you die. The plan will work to preserve your assets by minimizing any estate taxes or expenses for which your estate may be liable.
The Question We Answer Most
Having been in practice for over 25 years, we have seen questions from all walks of life, and from all kinds of people. But there are some questions that we see year after year without regard to economic conditions.
The #1 Question
Do I really need to create an estate plan? After all, we aren’t rich, and it seems like so much work. We understand why you may feel that way, but with the changing economy and the threat of some significant tax changes, even a small estate may suffer. Planning is not limited to the protection of large estates. For many people who have worked their entire lives to create a comfortable retirement, very real threats exist that may steal that dream away. Planning is essential if you want to create the rule book which will be used upon your death or incapacity, rather than using the State’s rule book. The professional team at The Law Offices of Larry G. Copenbarger will be happy to walk you through the process of creating your own customized plan… so you may protect your family, your values and those things for which you have worked so hard.
Long-Term Illness Planning
Long-term illnesses are occurrences that affect many families, usually in later years. A variety of planning strategies may be implemented to assure that the expenses associated with intensive health care are met. The Law Offices of Larry G. Copenbarger is a one-of-a-kind firm which can effectively deal with appropriate planning to preserve assets for a surviving spouse or children of a long-term illness patient. This can include, but is not limited to, medical and non-medical care for people who suffer from a chronic illness or disability. This type of planning requires very particular expertise and experience… and the result is the preservation of the family home, investments, bank accounts, and peace of mind for the family.
The use of legal documents to plan for the expenses of a long-term care illness is not to be confused with long-term care insurance, however, insurance may be used to “fill a gap,” while the planning is being set in place. Long-term care insurance is frequently not cost-effective, and must be in force prior to a negative diagnosis. To determine whether long-term care insurance will pay benefits, the process requires a determination of “activities of daily living” (eating, dressing, bathing, using the bathroom, transfering and continence) Care may be provided at home, in the community, in assisted living or in a skilled health care facility.
Although long-term care is normally associated with those who are advanced in age, it may be required by anyone at any age.