AlerStallings

AlerStallings is an estate planning and elder care law firm specializing in providing estate planning services tailored to the needs of Ohio families.

Estate Planning Experts Warn a Will is Not Enough You May Need a Trust.

Revocable Trust

A revocable trust distributes and protects your assets.

What It Does

• Avoids probate and proceedings to appoint a conservator or guardian should you become disabled
• Accommodates delayed distributions
• Allows for change or cancellation of trust provisions during your lifetime
• It becomes irrevocable upon your death and directs how property should be distributed

What It Doesn’t Do

• It doesn’t protect your assets from long-term care cost
• It doesn’t offer any tax advantages
• Won’t lower administrative cost

*For blended families and families with a large number of accounts and titled assets*

Asset Protection Trust

As the name suggests, asset protection trust keeps the assets they contain, like your home and investments, protected if you need nursing home care.

What It Does

• Sheild you from long-term care cost
• Avoid probate
• Ensure one spouse won’t lose the family home to pay for the other’s long-term care cost
• Protect your heirs from getting bumped into a higher income tax bracket

What It Doesn’t Do

• It cannot be revoked
• It won’t provide immediate protection, as assets must be in the trust for at least 5 years to be protected

*For anyone nearing or in retirement, usually with > $2 million in net worth*