1. How You Can Protect Your Home and Your Savings
Plan today and be prepared for tomorrow.

2. Welcome John/Jane Doe is a partner in Elder Law of the Area Law Firm
John/Jane has been practicing law for 10 years and focuses on planning for seniors, war-time veterans and individuals with special needs
John/Jane is a national speaker on needs for seniors
John/Jane was nominated for Super Lawyer of the Year
John/Jane is the current chair of the State Bar Elder Law Section, a member of Naela, ElderCounsel and Academy of Special Needs Planners
Insert presenters information, include a photo of staff at the law firm
Welcome attendees and thank them for coming
Introduce the presenter, tell them why this area is important to you

3. Agenda Are You Protected? Statistics and Risks of Long Term Care
Paying for Long Term Care
The importance of Planning
Putting Goals in Place

4. Are You Protected Do you have an estate plan?
Has your plan been reviewed lately?
Does your plan include all the documents you may need?
If you are accepting questions during the presentation, you should get responses from these questions. Explain the importance of having a properly drafted estate plan. Let them know the time is now to create a plan or put a plan in place.

5. Statistics and Possibilities
Most studies show that 1 of 4 people will need some type of long term care
This probability increases with age
Department of Health and Human Services estimates 70% of all people over age 75 will need some type of long term care
Talk about how much long term care costs in your area
Discuss some of the health issues that affect seniors
Talk about the need for planning to make sure the senior is making decisions for their care
Explain that waiting could allow others to make decisions for them and it could be people they do not want
Planning now allows the senior to have control

6. Risks and Costs of Long Term Care
Medical care and the costs for long term care will be the greatest threat to your home and your financial resources
National average cost for:
Hourly rate for home health aides is about $21/hr
Assisted living is about $39,500/yr
Long term care is about $75,500/yr
Discuss these costs for your area – the numbers above are a national average, but your area could be more or less
Explain what they could lose by not planning now

7. How Will You Pay Your monthly income Your savings
Use or purchase to use – long term care insurance
Implement a legal plan to protect your home and your savings; or
A combination of all of the above
Discuss what happens if the senior enters long term care facilities without proper planning
Talk about what happens to their monthly income, their savings, their home
Discuss the possibilities of purchasing long term care insurance – caution that age may be a factor (costs too much, not eligible, etc.)
Explain how a properly drafted asset protection plan can help protect the assets, allow them to remain in control, and allow them to keep their quality of life

8. What We Want to Avoid Running out of money for:
Yourself
Your spouse
Your family
Leaving your home unprotected
Risk the health of family or spousal caregivers
Family caregivers, especially spousal caregivers, are at a far greater risk of serious health problems or even death
Explain how proper planning can prevent the senior from running out of money
They can maintain a quality of life equal to what they are used to
The home can be protected for a spouse, beneficiary, or can be sold and proceeds used for same
Explain the ramifications of family/friend caregivers – discuss the health issues for the caregiver that could arise, etc.

9. Why Do Estate Planning Avoid probate Avoid family turmoil and conflict
Avoid guardianship procedures
Tax benefits
Medical risks and long term care
Family dynamics
Mixed families from second marriages
Special needs family members
Discuss the benefits of planning
Identify the control the senior maintains with planning
Explain why the person does not want to have a guardianship, problems encountered with guardianship, expense with guardianship
Explain the control they retain with estate planning
Discuss blended family issues and how proper planning addresses those considerations

10. Typical Estate Planning Documents
Trust
Pour Over Will
Durable Power of Attorney
Health Care Power of Attorney
Living Will
Standalone Will
Go over the different types of documents

11. Ways Many People “Estate Plan”
Deed property to a child
Put child on bank accounts
Give money away
Give valuable assets away
Discuss why these are not good options

12. Problems With This Planning
The recipient of the home loses the step-up in basis
May apply to other assets as well
Expose your assets to potential liability claims
From creditors or judgments
You limit future distribution options
Go into some detail about the problems with gifting the home
Explain what happens if a recipient is in a car accident – the assets could be exposed

13. Friends of Mine
Very dear friends of mine deeded their home to their child. This was done because they wanted to make sure he had the home without having to go through probate. The child subsequently sold the home. My friends had no savings and a very small monthly income. Two years after deeding the home to their son, dad became ill and had to go into a nursing facility. Unfortunately for my friends, they had no way to pay for long term care and were unable to get Medicaid because of a disqualifying transfer.
Tell a story – make it personal
Explain either how proper planning prevented a crisis for the friend or how no planning cause a problem

14. Goals Some People Have Age with dignity
Have options if long term care is required
Identify who will take care of you and who will help you manage your resources and assets
To leave a legacy for your loved ones
Explain how having goals in place and accomplishing those goals will allow the person to do the above

15. What Can You Do? Take control of your future Plan now
Schedule an appointment with our office today
Insert firm information

16. QUESTIONS