Tag Archives: estate planning

Living Trust Plus™ Asset Protection Trust Video Series

Written by Evan Farr

The Living Trust Plus™ is a unique solution to a large problem.

living trust plus asset protection trust virginia elder lawEvan developed this trust as a means of protecting assets while the creator is still living.  Including the most expensive creditors in existence: nursing homes.  Any form of long-term care is expensive, and long-term care insurance is not easy to obtain for many people, either due to eligibility requirements, pre-existing conditions, or the high cost.

Many attorneys are not aware this trust even exists, and it goes without saying in detail how absent from public knowledge this form of asset protection really is.  Our educational video series will shed some light on this trust that is growing in popularity, yet still relatively unknown on a national scale.

Enjoy our Living Trust Plus™ Video Series

Part I

 

Part II Will “Unlock” Soon!

 

Part II covers the main limitation of a revocable living trust, and how this limitation is abolished with a Living Trust Plus™.

 

This is part of an effort to spread awareness of the protections this trust can provide, at a time when middle class Americans need it the most.

 

Help us accomplish this by clicking the “like” button below.  If you already have liked our Facebook fan page, please post the URL of this post on your Facebook wall or status feed to encourage others to like it.

 


 

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How to Avoid Losing Massive Amounts of Money to a Nursing Home

Written by Evan Farr

Evan H. Farr, CELA

When older adults think of estate planning, many actually have asset protection in mind. What they want is the peace of mind of knowing that the nest egg they’ve been saving for that proverbial “rainy day” will actually be available for them when that rainy day comes. The rainy day, for most people, is when they or their spouse enters a nursing home.  But estate planning and asset protection are two very different fields of law. Estate Planning documents do nothing to achieve asset protection, as Estate planning deals with distribution of assets upon death.  If you wind up going broke in a nursing home before your death, your Estate Plan will wind up being a worthless pile of paper.

These days most older adults use the Revocable Living Trust (RLT) as their primary Estate Planning document in order to minimize delays and expenses and avoid the “nightmare of probate.”  A Last Will and Testament is designed to put your estate into probate – an expensive and complex process that most people want to avoid at all costs.  Although the RLT can achieve this important goal of avoiding probate, a major limitation of the RLT is that it cannot accomplish asset protection. The RLT can’t shield your assets from nursing home expenses.  With the average cost of a nursing home room in the DC Metro area at around $9,000 per year, this is an important limitation of the RLT that every older adult needs to understand.

Is there a living trust that actually does protect assets in contemplation of future nursing home expenses?  Yes. You can protect your assets legally and effectively by using the Living Trust PlusTM (LTP).  As opposed to the RLT which only avoids probate, the LTP is designed to protect your assets from the expenses and complexities of probate PLUS lawsuits PLUS nursing home expenses. The LTP functions very similarly to the RLT and maintains much of the flexibility of the RLT, but in addition to serving as your primary estate planning document, the LTP allows you to actually protect your nest egg from having to be “spent down” to pay for the catastrophic expenses often incurred in connection with nursing home long-term care.

If you’re over the age of 65 and you’ve been holding on to a nest egg for a rainy day, the time to get out the umbrella and protect the nest egg is now, while you’re still relatively healthy and living independently. To find out more, you can sign up yourself and your family to attend a free seminar on the Living Trust PlusTM.

If you are an attorney and are interested in learning how you can offer your clients true asset protection, visit LivingTrustPlus.com and join the dozens of attorneys across the U.S. who have already educated themselves and embraced the LTP!

Good News – We’re Growing!

Written by Evan Farr

The Farr Law Firm, a busy, dynamic, and growing Elder Law & Estate Planning firm in Fairfax City, seeks to add an experienced Paralegal or Attorney to our Estate Planning and Estate Administration practice team. You must have superb writing skills, highly-developed organizational skills, strong typing and computer skills, sharp editing skills, polished and professional interpersonal skills, and a sincere desire to work in a friendly, service-oriented environment where helping clients is the number one priority. You must be a quick learner, self-starter, detailed record-keeper, and hard worker who wants to ENJOY serving as part of a dedicated team of professionals. Varied duties will include drafting and editing of legal documents, preparing client and vendor correspondence, preparing for and assisting with document signings, performing general administrative work as required, and daily contact and communication with the firm’s other paralegals, attorneys, clients, and outside vendors.

To be considered, you must be a non-smoker, must not live with a smoker, and must not wear fragrances.

QUALIFICATIONS: The ideal applicant would have excellent academic credentials and at least 10 years of professional office experience, with at least 5 years working in a law firm, preferably in the fields of Estate Planning and/or Estate Administration. Primary software programs we use are Time Matters, Hot Docs, and WordPerfect. Experience with any or all of these programs would be a plus.

TO APPLY:

1. Please review the “About Our Firm” section of our Web site – http://www.VirginiaEstatePlanning.com – to understand as much as possible about our firm.
2. Please take a short skills test by visiting the following link: http://es.eskill.com/es/quiz/?testId=4616d2ef9a84b7b5. Provide your name and email, then click “Take Test.” If the link doesn’t work, you can go to http://www.eskill.com and under “Here for a Test?” click Enter and provide the following ID: 4616d2ef9a84b7b5. Once you complete the test, you’ll be able to view your own test results, and they will automatically be sent to us.
3. Please email your cover letter and resume to the address below. In your cover letter, please explain why this job interests you, and please confirm that you do not smoke, do not live with or frequently associate with smokers, and do not wear fragrances, either at work or elsewhere.
4. Please provide a writing sample if you have one available.