Estate Planning: How Much Does it Cost?

The better question, really, is. “What is the value of estate planning?”
The value of estate planning lies in providing security to your health and property for yourself and your loved ones. Those who fail to plan may see a major loss in assets, healthcare, and even the uncertainty of legal guardianship for one’s child in the case of incapacitation. The value of estate planning to a single parent could mean having the safety and security of choosing and knowing who will be the legal guardian of their child in the case of disability or death. Other issues could be avoided by planning and setting up trusts to hold to the benefit of their child to insure their future as well as to ensure the security of other assets to beneficiaries such as other family members.

In the case of a couple who own a home, a money market account, CD’s, and with their estate exceeding $1 million, failure to do estate planning results in any assets over $1million to be taxed by the Commonwealth of Massachusetts and also by the Federal Government (in the year 2013, assuming the return of the $1 million exemption) at a rate of 55%. This means double taxation and that less than half of the assets accumulated over a lifetime will pass to their beneficiaries.

In the case of an elderly or disabled person who may have long term care needs, perhaps including nursing home care, failure to plan could result in catastrophic loss of all the person’s lifetime assets. This is the value of Estate Planning. When you call asking us, “How much does it cost?”, I ask you to consider how much it is worth to you to safeguard your children’s future; to safeguard assets for your loved ones; and to protect yourself from nursing home impoverishment. How much is it worth to you?

Denise Kent Law Group joins ElderCounsel & WealthCounsel

PRESS RELEASE:

Denise Kent of the Denise Kent Law Group is pleased to announce her affiliation with WealthCounsel LLC – a nationwide collaboration of trusts and estate attorneys and other legal, tax and business professionals, and also with
ElderCounsel LLC, a collaboration of Elder Law attorneys. As a member, Kent contributes to and draws on
the knowledge and expertise of thousands of her colleagues.

Attorney Kent said that she joined WealthCounsel in order to offer clients the most up-to-date estate planning strategies, and joined ElderCounsel in order to provide the most sophisticated solutions to issues facing the elderly and disabled. Using their resources, clients are assisted with cutting-edge planning techniques executed in documents that are comprehensive, flexible and easy-to-read.

WealthCounsel and ElderCounsel members contribute to the ongoing development of practice systems through web-based discussion groups, study groups and continuing education courses. This year's curriculum offering include such topics as, "Power of the Lifetime QTIP", "Using LLC
to Protect Family Assets", "Trustee Selection for Irrevocable Trusts" and “Medicaid Immersion”.

WealthCounsel systems were recently praised during the 45th annual Philip E. Heckerling Institute on Estate Planning hosted by the University of Miami School of Law.

Kent is pleased to bring such quality to her practice, and
looks forward to utilizing colleagues and resources to deliver technically up-to-date peer-reviewed documents, advice and counsel for clients.

Denise Kent founded the Denise Kent Law Group in 2008, and practices together with her associate, attorney Suzanne Benfield. Their practice areas include Estate Planning, Probate & Estate Administration, and Elder Law, as well as certain Family Law services, such as Divorce Mediation. Key services include Medicaid Planning
and Special Needs Trusts.

Kent is a graduate of Gordon College and Mass School of Law and is licensed to practice in Massachusetts and the U.S. District Courts of Massachusetts. In additon, she earned a Certificate in Trust and Estate Planning, from The Foundation for Continuing Legal Education, Inc., Wenham, MA

To learn more about the firm, visit www.denisekentlaw.com

SOURCE Denise Kent Law Group

Elder Law and How I Help

I practice Elder Law, which, in general, means that I assist elderly and/or disabled people find the help and the resources to live as independently as possible, with respect and dignity. Long-term care can be devastating to a person’s lifestyle, finances and security. It drastically alters or completely eliminates the three principal retirement dreams of elderly Americans, which are:
1. Remaining independent in the home without intervention from others
2. Maintaining good health and receiving adequate health care
3. Having enough money for everyday needs and not outliving assets and income
Have you considered the following:
What do you want your children or friends to do on your behalf?
When it comes time for them to help, what if you can't say what you want because of a physical or mental disability? This is where a written estate plan comes into effect.

Do you have a financial plan or long term care insurance? Retirement savings can disappear quickly when used for care services.

What types of care services and facilities are available and what are the costs?

What will government programs pay for and how do you qualify?

When you make directives, assignments and arrangements in advance of needing elder care, then everyone involved can follow the prearranged care plan. In a best-case scenario, an individual has made financial, legal and personal long term care plans years before. Without such planning, families often find themselves in crisis where time, money and lifestyle are sacrificed, and caregivers suffer both emotionally and medically themselves.
There are a lot of new services and programs available to draw from, and it’s my pleasure to work with families and assist them in navigating the maze of pressing health care and financial needs.
Sincerely,
Denise Kent
“Helping people, one family at a time.”

Medicaid Planning / Long-Term Care Planning Seminar

I’m pleased to announce the next presentation in our seminar series, Long-Term Care Planning. This topic is of special concern to elderly and disabled persons, who may be facing such issues right now, or who fear impoverishment if they become unable to live independently.
This seminar will focus on the topic of long-term care planning and asset protection. We will discuss the costs related to care at home, in assisted living, and in skilled nursing facilities. We will discuss options for maximizing resources in order to pay for such care as needed, and the role that Medicaid plays when a person’s resources fall short.

What can you do to protect your assets? Come join us to find out!
There is ample free parking on-site, and refreshments will be served.

Warm regards,
Denise M. Kent

Date: Wednesday, June 29, 2011
Time: 10:00 AM
Place:
Salem Council on Aging
5 Broad Street
Salem, MA 01970

Register by phone at (978) 468-9000 or online, at the following link:

We're Growing!

I am very pleased to announce to announce that Attorney Suzanne Benfield has joined the law firm as Associate.
She will practice in the areas of Family Law and Wills, Estates and Trusts.

Admitted to the Massachusetts bar in 1998, Attorney Benfield previously worked in the area of corporate compliance in the insurance industry.

Suzanne lives on the North Shore and is married with two children. While raising her children, she volunteered at the Jeanne Greiger Crisis Center in Newburyport as a Court Advocate and for her local municipality in various capacities. She is currently a member of her town’s Planning Board.

I am happy to have such a dedicated and compassionate colleague join me in the practice. Suzanne understands the challenges and stressors facing today's families, particularly as they relate to Family Law and Elder issues. She will undoubtedly be an asset to the firm, and a trusted advisor to our clients.

Welcome, Suzanne!