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Living Trust and Long Term Care Seminar
Please note the date for this event has changed from May 10th to May 3rd !!!
The MMA is very happy and proud to host a seminar on 'Living Trust and Long Term Care' for its members. As each one of us is getting old, one must consider a variety of new programs that we would never have considered to read, or talk about. Living Trust A Living trust allow you to control who receives your assets after you die. However, there are many more reasons for creating a living trust. For instance, a living trust can help your beneficiaries avoid the expense and delay of probate normally associated with wills. Probate can last as long as three years and can take up to 10% of your estate's value. A living trust can also provide you with more privacy than a will because you don't have to register it with the courts in probate. Living trusts can help avoid certain estate taxes if prepared properly. Finally, a living trust allows you to hand over the management of your assets to someone else if you become incapacitated. The popularity of the living trust has soared in recent years as more people discover its significant estate planning benefits. Like a last will, a living trust allows you to transfer property to beneficiaries—but with one key difference. A living will lets you specify decisions about artificial life support in advance. It not only ensures your wishes will be heard, but also protects your loved ones from having to make these difficult, deeply personal choices for you. A living trust is not subject to probate, which can tie up your estate for years and consume a large portion of its value in court fees. A Power of Attorney lets you appoint someone you trust to manage important financial and legal matters on your behalf. You can choose to have it take effect immediately or only go into effect in the event of illness or incapacitation. Common uses for a Power of Attorney include authorizing someone to handle a complex legal transaction or manage your financial affairs while you’re on vacation. Shilpa Gokare, esq, of the Gokare Law Firm in Alpharetta, GA will address Living Trust. Long Term Care This year, about nine million men and women over the age of 65 will need long-term care. By 2020, 12 million older Americans will need long-term care. Most will be cared for at home; family and friends are the sole caregivers for 70 percent of the elderly. A study by the U.S. Department of Health and Human Services says that people who reach age 65 will likely have a 40 percent chance of entering a nursing home. About 10 percent of the people who enter a nursing home will stay there five years or more. Long term care insurance helps cover the cost of care at home or in a nursing facility. It helps protect your hard earned retirement nest-egg and long term care insurance provides you with more choice and control over how and where you receive care. It's smart to buy long term care insurance when you are younger and healthy. One of the best ways to make sure you have a comprehensive retirement plan is to know how you will pay for long term health care. The cost of long term care can be surprisingly high and long term health care needs are not generally covered by other insurance plans. Long-term care is a variety of services that includes medical and non-medical care to people who have a chronic illness or disability. Long-term care helps meet health or personal needs. Most long-term care is to assist people with support services such as activities of daily living like dressing, bathing, and using the bathroom. Long-term care can be provided at home, in the community, in assisted living or in nursing homes. It is important to remember that you may need long-term care at any age. Mr. Brian Klos of the Lauber, Williams & Klos Agency, Inc., of Ballwin, MO will talk on the Long Term Care. Each of the sessions will be followed by a Q & A session. In addition, at the end of the session, the speakers have kindly agreed to talk with any one who may need more information. The details of the program are given below : Date: Saturday May 3rd, 2008 Venue: Ocee Public Library 5090 Abbotts Bridge Rd, Johns Creek, GA 30005 Time: 2:00PM-5:00PM There is no charge for this seminar, but we strongly recommend an advance registration, so that we can plan the seminar more effectively. We encourage all the members to take advantage of this unique opportunity provided by the MMA. For registration/questions, please contact Prajakta Kadam at 770-394-2411, or Dr. Atul Laddu at 678-714-6745. |
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