Absolute Law Group - April 2022

Absolute Law Group - April 2022

Absolute Law Group THE ABSOLUTE INQUIRER BUSINESS - TAX - ESTATE PLANNING

(352) 205-4455 • ABSOLUTELAWGROUP.COM • APRIL 2022

Don’t Go Broke in a Nursing Home AN EASY-TO-READ GUIDE ON LONG- TERM CARE AND ASSET PROTECTION Here at Absolute Law Group, we want to ensure that you and your family are prepared for anything. When it comes to placing a loved one in a nursing home, the question we are asked a lot is, “Will I lose all of my money?” and “Do I need to sell my house to afford a nursing home?” It breaks my heart when someone comes to us and has already spent all of their money on a nursing home. We could’ve saved them most of their hard- earned savings and protected their assets so they could have peace of mind during their second half of life.

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The do’s and don’ts of long-term care insurance policies

• The vital legal documents you need for long-term care planning • Asset-based long-term care solutions • How to use veteran’s benefits to pay for long-term care • The long-term care strategy using IRA money • What are reverse mortgages? • What you need to know about annuity-based long-term care and the Pension Protection Act We want you to be prepared for anything that comes your way. It can be a challenging time when a loved one suddenly gets sick. But there are resources to help you during your time of need. This book will provide you with the information you need to know before putting your loved one in a nursing home. Go to FloridaLTCResources.com to receive your FREE copy of “Don’t Go Broke in a Nursing Home.” This book is full of creative financial strategies that you could use to protect your assets and the quality of care you receive. In addition, you will continue to receive downloadable resources and little known tax incentives available to those who plan ahead for long-term care. If you have any questions about putting a loved one in a nursing home, allow your friends at Absolute Law Group to help! We will be happy to go over your situation and provide you with additional information and resources that can help you. Let us help relieve some of the stress this time has brought you.

To help, I developed another book titled “Don’t Go Broke in a Nursing Home.” The vision behind this book came from the lack of information out

there about this issue. I wanted to create an easy-to-use guide people can read in a couple of hours that gives them direct and easy-to-understand advice. I teamed up with Don Quante, who has worked in the insurance and financial planning industry for over 30 years and is an acclaimed speaker and trainer on the topic of long-term care. Together, we developed a plan on how to protect your financial assets if a loved one gets sick. In addition, we share legal tools available to you so you don’t have to worry about spending all of your money on a nursing home.

“My wish is that this book can give people a sense of relief. We want people to know there are resources out there that can help them.”

Often, clients come to me and state that they wish they had known this information earlier. My wish is that this book can give people a sense of relief. We want people to know there are resources out there that can help them. You and your family can still protect yourselves even if tragedy strikes. The driving force behind this book is to share how to effectively care for your aging parent or loved one in a way that will save you time, energy and money. You will learn the legal strategies and government benefits available that can help your loved one in crisis pay for long-term care without going broke in the process. Here are the topics discussed in the book: • What your biggest financial threats can be and how you can overcome them • When you should use Medicaid to pay for long-term care

–Sarah K. Elyaman

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SHE SAVED HER HUMAN! MEET TINSLEY, A CAR CRASH SURVIVOR

On Jan. 3, 2022, New Hampshire State Police responded to a call about a lone dog wandering around on the interstate near Veterans Memorial Bridge. When they got there, the pup — a Shiloh shepherd named Tinsley — led the officers on what seemed to be a wild goose chase.

“This was almost like a real-life Lassie situation,” one lieutenant told CNN. “It’s really quite remarkable. This dog definitely saved their lives. I don’t think they would have survived the night given the temperatures.”

Tinsley is a real hero on four legs, just like Lassie, a fictional pup who saved two little boys from dying of hypothermia in the snow. Fortunately, Tinsley’s grateful owner, Cam, made a full recovery. He also knows just how special his pup is. “She gets spoiled all the time,” he told the WPTZ news station. “She’ll get some venison, probably [a] burger tonight, and probably some back scratches with it.” Tinsley is not the only dog who has saved a human from the cold. In the winter of 2017, a rescue pooch named Peanut saved the life of a 3-year-old girl in Michigan who had

“When Trooper Sandberg and the Lebanon police officers attempted to get close to the canine, it continued to run northbound on Interstate 89, crossing into Vermont,” the police department wrote in a Facebook post. “A short time later, Trooper Sandberg and the Lebanon police officers located a damaged section of guardrail near the Interstate 91 and Interstate 89 junction.” It turns out Tinsley had a destination in mind: an upside-down pickup truck that had crashed through that very guardrail.

The truck had rolled off the highway, and the people who were inside — including Tinsley’s owner, Cam Laundry — were on the ground, badly hurt and hypothermic! Thanks to Tinsley’s bravery, the cops called an ambulance that rushed them to the hospital.

wandered away from home, and a golden retriever named Kelsey saved her owner after he slipped in the snow and broke his neck. She kept him warm for 19 hours and barked until help came. To read the full story of Tinsley’s roadside rescue, visit CNN.com and search “real-life Lassie.”

Roughly half of all Americans don’t have a will, so if you’ve already taken this vital step to protect your assets and successors, then congratulations are in order. You’re already ahead of the curve. While a will is a necessary document that every person who owns assets should have, it is still a relatively simple item that may not cover everything you need it to. You may want to consider creating an estate plan that involves the use of a living trust, plus other important documents like a power of attorney for finances and health care directives. Estate plans can save you and your successors substantial amounts of money in court costs, legal fees, and taxes. Consider the following items when creating an estate plan: DO YOU HAVE/ARE YOU EXPECTING CHILDREN/ GRANDCHILDREN? This is one of the most important factors to consider when creating an estate plan. Beyond appointing a guardian to take care of minor children, you may also need to appoint a conservator who will manage the assets your successor(s) will inherit when they reach the age of majority. MINIMIZE PROBATE AND MAXIMIZE PRIVACY. An estate plan that uses a living trust will allow your heirs to move through the administration process as quickly and efficiently as possible. With only a You Have a Will IS THAT ENOUGH?

will, probate must be used at your death. Information brought forward in probate court is public knowledge, and all of the terms of your will plus the assets you own will become part of the public record. Also, probate can be very expensive. Constructing an estate plan with an attorney before probate can help avoid most of these costs and loss of privacy. CONSIDER YOUR DIGITAL INFORMATION. One thing that’s often forgotten, but necessary in today’s digital age, is what happens to your online information after you die. Many of our day-to-day activities are conducted online, and this may present issues for your family after you die. For example, if you invest or bank online, it can be an incredible hassle for your heirs to decode your online financial life. Consider storing your passwords in a safe place and then give access through a power of attorney to someone you trust who will help your family manage your online footprint. WHAT IS THE LOCATION AND SIZE OF YOUR ESTATE? The Tax Cuts and Jobs Act of 2017 doubled the size of the federal estate tax exemption to $11.2 million for a married couple. That means unless your estate is larger than $11.2 million, you may be exempt from paying federal taxes on it. However, depending on where you live, you may be subject to state-level estate taxes. There are many other factors to consider when constructing an estate plan, some of which can be complicated. Please do not hesitate to reach out to our office if you wish to meet with an estate planning attorney to discuss how best to protect your legacy.

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(352) 205-4455

Take a Chance This Month

THE BENEFITS OF TAKING RISKS

Take a Break Once you’ve acknowledged why you’re afraid to take risks, then it’s time to adjust your mindset. The actions we take are dependent on our thinking. If you think you won’t succeed or play into the “what if” scenarios in your head, then you may not accomplish it. Instead, you should embrace change and what it can do to improve your life. April 23 is National Take a Chance Day! Taking chances can be intimidating, but that’s okay. Any time we try something new and out of our comfort zone can be scary. But several benefits go along with taking risks. You don’t have to be an extreme risk- taker; simply trying something different can make a big difference. Deciding how to protect your assets while caring for a sick loved one is a risk in itself. You can accomplish anything you put your mind to. Here are the benefits of taking a chance and how you can get started. HOW TO START TAKING RISKS Taking chances can lead to new and interesting relationships, experiences, places, and knowledge. The first step you can take is to consider why you shy away from a challenge. Are you afraid you won’t succeed? Are there too many “what if” moments? Is it out of your comfort zone?

Here are a few risks you can take to get started.

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Talk to a stranger Learn a new sport Speak your mind Break a pattern

Travel somewhere new Tell someone your fears

WHAT ARE THE BENEFITS OF RISK-TAKING? On top of new relationships, experiences, and knowledge, there are several other benefits of taking chances.

• • • • •

Increases creativity

Opens new potential opportunities

Builds up your confidence Develops a sense of pride

Invites more engagement and fulfillment

Taking chances can help you mentally and physically. The best part is that you don’t have to do anything extreme. All that matters is that you’re trying something new and getting out of your comfort zone. In order for you to grow, you need to experience new challenges.

Healthier, Lighter Deviled Eggs

Hard-boiled eggs are essential for Easter, so why not transform them into a healthy appetizer?

Directions 1. In a large pot, add eggs and cover with water. Put on high heat, and then boil eggs for 10 minutes. 2. Once boiled, peel eggs by gently tapping and removing the shell. (Adding the eggs to an ice bath after boiling can make this task easier.) 3. Cut eggs lengthwise and place yolks into a medium mixing bowl. Set egg white halves open side up on a plate. 4. In a bowl, combine yolks, yogurt, mustard, lemon juice, and hot sauce (if desired) until smooth. 5. Transfer the yolk mixture into the egg white halves. Garnish with paprika and chives if desired.

Inspired by LiveEatLearn.com

Ingredients • 6 large eggs

• 3 tbsp Greek yogurt

• 1 tsp Dijon mustard

• 1 tsp lemon juice

BLOOM CLEANING EARTH EASTER

FLOWERS FOOL PRANK RAMADAN

RECYCLE SPRING TEACHER VENUS

• Optional: Hot sauce, to taste

• Optional: Paprika and

chives, chopped, for garnish

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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411

6035 SW 54th St. Suite 200 Ocala, FL 34474 (352) 205-4455 AbsoluteLawGroup.com

1 We Created a New Book! 2 A Heroic Dog Saves Her Owner 2 You Have a Will; Is That Enough? 3 To Grow, You Must Challenge Yourself 3 Take a Break 3 Healthier, Lighter Deviled Eggs 4 How to Make Downsizing Less Painful

EVERYONE’S DOING IT! Downsizing for the Better

Whether you simply want to eliminate clutter or move to a smaller home now that the kids have moved out, downsizing has increased in popularity in recent years. But, if it’s your turn to downsize, you may find it challenging and unexpectedly emotional. Here are some tips to make the process easier. START EARLY. This process cannot be rushed and will not be a quick one, so don’t try to squeeze all of the preparation and packing into a few days. This process can take weeks — or even months — and that’s completely normal. You’ll want time set aside to go through everything room by room, one item at a time. CREATE ‘KEEP’ AND ‘TOSS’ PILES. When going through your belongings, create a pile for items you want to keep and items you want to either donate, give away, or throw away. While creating a maybe pile may feel worthwhile at the time, it will only end up leaving you with more clutter. Plus, indecision prolongs the process. GET RID OF DUPLICATES. You’ve collected a lot over the years. If you have two can openers, five sets of bed sheets, three cookie sheets, and an endless supply of spatulas, it’s

time to clear out the duplicates that you don’t need or use. Consider donating everything that’s in good condition — someone surely could make good use of it.

TAKE TIME TO REMINISCE.

There is fun to be had in sorting through old memories. Allow yourself time to stroll down memory lane. Welcome laughter, smiles, and tears. You can even invite your loved ones over to help and share in the stories as you pack up the items you hold dear. Don’t let decluttering and downsizing be a daunting task; take it one step at a time. Even if you aren’t moving anytime soon, it’s always a good idea to cut down on the amount of clutter you hang on to!

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