NEWS ALERT:
Roberson Law Wins Award
On May 8, 2015, our firm will be recognized
 as the "Business of The Year." The award is being given to us by Good Shepherd Ministries and will be presented to us at the annual banquet held at Epiphany Lutheran Church in Centerville. The event is being emceed by WHIO news anchor Cheryl McHenry and the keynote speaker will be Montgomery County Commissioner Debbie Lieberman. We are very honored to receive this award from such a respectable organization. Good Shepherd Ministries Founding Director Dale Nieberding stated that our firm was chosen to receive the award due to the integrity and Christian values that our firm exhibits in our business practices.
Good Shepherd Ministries is a non-profit that works with ex-offenders to help restore their lives with mentoring, housing, and spiritual support after incarceration or chemical rehabilitation. The non-profit's annual partnership banquet and fundraiser is Friday, May 8th at Epiphany Lutheran Church from 6:00 p.m. to 9:00 p.m. For tickets to the event, please call 938-5781. |
If this is the first time that you have seen this picture, then you must not be our fan on Facebook!
Although our newsletter goes out only once a quarter, we make posts to our Facebook page once a week. That means becoming our " fan" gives you weekly access to what is going on at our firm. We post everything from pictures of staff members to articles about the latest topics in our area of law.
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News You Can Use
In This Issue:
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NEWS ALERT: Roberson Law Wins Award
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Don't Make These 6 Estate Planning Mistakes!
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Elder Law Update: Legal Issues Affecting Alzheimer's Disease
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Problems On The Horizon For Veteran's Pensions
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Obama's Proposed Tax Changes Regarding Inherited Property
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Helpful Hints: Determine How Your Online Presence Will Be Handled After You Die
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All States Are Not Created Equal When It Comes To Death And Disability Planning
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Grief Support And Resources
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Need A Speaker For Your Next Event?
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Don't Make These 6 Estate Planning Mistakes!
We are in the business of helping people prepare and plan for the inevitable, so every year we write an article advising our clients about what not to do when it comes to death and disability planning. The mistakes we have seen people make throughout the past 25 years we have been in practice have caused a lot heartache, stress, and money for our clients to correct.
We realize that understanding what to do and what not to do when it comes to estate planning can be very confusing to a person who isn't familiar with the probate and trust laws (Side note: That's why you don't hire an attorney who is not a specialist in this area of law). It is for the reasons above why we are encouraging our clients to read an article recently published by the law firm Chambliss, Bahner & Stophel, P.C. titled, "The 6 Biggest Estate Planning Mistakes."
The article sums up in non-legalize why you need to listen to the advice of your estate planning attorney or suffer serious consequences. Some of the mistakes people make include burying their head in the sand and not planning at all, not funding a trust, incorrectly designating beneficiaries on bank accounts, retirement funds, etc. or going online for "do-it-yourself" estate planning forms, which is a "doozy" mistake due to the vast differences in each state's laws.
One "size" does not fit all when it comes to death and disability planning in the United States. For that reason, attorneys are required to be licensed to practice law in each state where they are giving advice, so that is why going to a site that is not state specific (like Legal Zoom) is not wise.
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All States Are Not Created Equal When It Comes To Death And Disability Planning 
A common misconception is that a Will, Trust, or Power of Attorney that is prepared in one state will have the same effectiveness and powers in a different state. This is simply not true. It is for that reason why we advise clients who are moving to or from another state to have their estate planning documents reviewed by an attorney who specializes in estate planning in the state where legal residence will occur.
Are you a "snow bird" who lives in a warm climate state in the winter and are not 100% certain about where you have legal residence? A non-official guide is that you should have your estate planning documents prepared in the state where you vote.
To further prove that all states are not created equal, we have included a state death tax chart that was created by McGuireWoods LLP for you to see the difference in each state's tax guideline for a decedent's estate. |
Obama's Proposed Tax Changes Regarding Inherited Property
Many Estate Planning Attorneys, Financial Planners, and Accountants took note of the tax changes that President Obama recently proposed regarding capital gains taxes. If these changes took place, people inheriting real estate could suffer great tax consequences for the property they inherit.
This tax change would be most detrimental to people who are in the middle-income to high-income range, but that income range represents a lot of people in America. That being the case, the proposed tax increase could potentially cost millions of dollars to tax payers who are the beneficiaries of real estate or other property, which is something that planners will have to take into consideration when advising their clients.
Because the tax changes that Obama proposed have to go through a majority Republican Congress before they are approved, we most likely won't see these changes implemented in this presidential term. However, Obama's tax proposals have made us all more aware that there may be serious changes in the future for heirs of inherited property.
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Problems On The Horizon For Veteran's Pensions
The Veterans Administration (VA) has received a lot of backlash in the media lately from the recent report of Veterans experiencing long delays in getting health benefits.

These long wait times have resulted in Veterans not only receiving delayed health care, but in some cases no care at all, which have resulted in the subsequent deaths of Veterans waiting for care. Another issue on the horizon for the Veterans is that the VA has issued statements indicating that they may adopt a new rule that will seriously restrict the benefits that Veterans can receive from their pensions for long term care and nursing home costs.
According to an article written by Attorney Victoria Collier that was published on the National Academy of Elder Law Attorneys website, "The proposed rule imposes a three-year "look-back" period on gifts and other transfers and creates a maximum 10-year penalty waiting period for making those transfers. The rule also imposes myriad other new restrictions that includes capping the amount of home health expenses a Veteran can deduct to qualify. As a result, fewer Veterans and their surviving spouses will be able to access these benefits to pay for the high costs of long-term care."
There are also new proposed restrictions regarding "gifts" that can be made to others from the Veteran. These monetary gifts are often made by the Veteran in order to initiate the spend-down process to qualify for long term care benefits. The VA is putting serious restrictions on monetary gifts made by Veterans and unapproved transfers of money could cause the Veteran to permanently get denied certain pension benefits. It is for this reason why we encourage people to contact us before they "move around money" for spend-down purposes. One wrong move could cause serious consequences in the future that cannot be undone.
If you are a veteran, we suggest that you consult with a Veterans Services Officer in your county and review the benefits to which you may be entitled. The telephone numbers for several of the county offices are as follows: Montgomery: 937.225.4801; Greene: 937.562.6020; Warren: 513.695.2717; Miami: 937.440.8126; Preble: 937.456.6111. Call us if you need the telephone number in a different county. In addition, the Disabled American Veterans (DAV) has a Mobile Service Office (MSO) program that makes multiple stops in our area. For information about the MSO stops and free DAV services, call Steven Strodtbeck, DAV NSO, at 216.522.3507.
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Helpful Hints: Determine What Will Happen To Your Facebook Account After You Die
Last month, Facebook released its policy regarding what happens to a person's account after he or she dies. The new features effectively allow you to determine how your online presence will be handled after you die, which is a hot topic right now in the field of estate planning law.
The new policy involves you naming a person as a "legacy contact" on your account. The legacy contact will have as much or as little access to your account that you allow. You can even apply security settings that prohibit your legacy contact from accessing certain content in your Facebook account after you die. For more information about this topic, read an article that was published by the law firm Shumaker, Loop & Kendrick, LLP.
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All material in this newsletter is Copyright © 2015 by Nancy Roberson. All rights reserved. 937.643.2000. |
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