If you were to intentionally try to create the most complex rules and regulations possible, you would probably want to start with the tax code and the rules governing various government programs. This is precisely the realm of elder law, financial planning, retirement planning, and estate planning.
Navigating these waters is not simple. If you surf the Internet you will invariably stumble upon websites that sell generic legal documents. They want you to believe that executing legally binding instruments is so simple anyone can do it by filling in the blanks on the expensive templates they will sell you.
Do you think that the average layperson is qualified to create his or her own revocable living trust, family limited partnership, irrevocable life insurance trust, grantor retained annuity trust, family foundation, special needs trust, durable power of attorney for healthcare, etc.?
Clearly, the average web user is not well equipped to create these types of legal instruments. But in addition to this, attorneys who do not specifically focus on this legal niche may not be in a position to make good recommendations either.
Arranging to transfer everything you have been able to accumulate throughout your life to those that you care about the most is a profound endeavor, and it is not something that you want to entrust to a DIY kit or legal generalist.
If this make sense to you, the first step toward total peace of mind as to sit down and discuss your situation with a licensed and experienced estate planning lawyer in the Covington, KY area. Your attorney will gain an understanding of your unique situation and provide you with the appropriate solutions.
John’s practice focuses on the use of Wills and Living Trusts in Estate Planning to help individuals protect their families and preserve their legacies after their deaths, but his practice also focuses on the critical issues of protecting individuals with dementia or other diminished capacity, assisting individuals in qualifying for Medicaid and other government benefits to offset the costs of long-term care, and providing special needs planning.
John is admitted to practice law in North Carolina, South Carolina, Kentucky, and Ohio, and he is accredited by the Department of Veterans Affairs.
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