Roseville Area Schools Community Education

Do you know what the most oversold and misunderstood legal product on the market is today? The answer is a Revocable or Living Trust. Most people believe that their trust shields the assets from the nursing home and creditors. In Minnesota, Revocable Trusts are subject to the nursing home and creditors. If you can change the Trust, the nursing home and creditors can access the money in the Trust. In this class you will learn about the pros and cons of a revocable trust and if it is a fit for you. You will also learn about other options.

In each Minnesotan’s life, there are five people we should be prepared to count on as we age and move into the last stages of our lives. In this class we will learn the answers to: What are the roles and responsibilities of these people? How long do they serve and how much of a time commitment are we asking? How much guidance can we give them? Who makes an ideal selection for each of these vastly different roles? Who makes a bad selection for these roles? What pitfalls and problems should we be aware of? Each of these jobs: Attorney-In-Fact, Health Care Agent, Estate Executor, Trustee and Guardian are vastly different jobs that benefit you and they deserve careful thought. This class encourages questions. We will provide the answers.

A vital part of every retirement or resettlement discussion involves the roadmap of issues that help us decide where we want to call home! Is it Taxes, the Political Landscape, the Weather, the location of Family assets, Debt or Income concerns in Retirement, Cost of Living, Health Concerns or . . . our Friends are already there! When should we start this discussion? Did you know many States do not tax Social Security, Pensions or other Qualified Retirement Income sources? Which are the worst states for Estate Taxes? How do we establish Domicile? How about quality of medical resources and retirement facilities – who is good, who is not-so-good? All these issues will be raised and discussed in an open and friendly manner with questions encouraged.

The biggest fear for most baby boomers is how to pay for the nursing home and still leave an inheritance for the next generation. We will walk through the following questions and more including: How will I meet my nursing home goals? Is Long Term Care Insurance for me? What about home healthcare? Should I gift my money away? Would I qualify for Medicaid? What about my current Trust, does it protect my assets and avoid the nursing home? What is the 60-month claw back? What if my spouse goes into the nursing home and exhausts our money?

This is a relaxed and friendly open-forum seminar for participants with a seasoned Will & Trust attorney. Questions like: Should I avoid Probate? Is a Will good enough? Do I need a Trust? How does my plan deal with the nursing home? How do we gift the assets of husband and wife? What about separate assets not of the marriage? If I am alone, what tools protect me best? How do I decide who should serve in my estate plan? What is the death tax? How do I avoid leaving a mess for my children? Which Trust is best for my needs? Can I use a Transfer-On-Death Deed? How do my retirement assets operate in my Will or Trust? All questions will be answered!