By Portia Williams
PDT Staff Writer
WEST PORTSMOUTH — Senior Financial Survival in 2014 was the theme of a workshop offered to senior citizens Wednesday at Shawnee Lodge and Conference Center.
Cooper and Adel Financial Agency LLC offered information in a workshop designed to enlighten senior citizens to vital information about laws. Attorneys Tom Cooper and Mitchell Adel, are both certified Elder Law Specialists who facilitate the workshops.
Lori McBride, seminar coordinator for Cooper and Adel Financial Agency LLC, said the information being shared at the workshop is critical for many senior citizens.
“We are having a Elder Law workshop which is geared toward senior citizens in trying to help them, and give them planning strategies with regards to nursing homes, to protect their assets,” McBride said.
McBride said the information shared in the workshop is critical to the senior citizen population.
“It is critical because I think that a lot of people don’t think there is anything that they can do preserve their assets. I have seen people that have had farms in their family for generations, and if mom or dad gets sick and has to go into a nursing home, then they had to sell off the farm in order to help pay for that,” McBride said.
McBride said the workshop helps the public within the law to avoid conflict and to maintain their assets.
The workshop also deals with veteran benefits, and the benefits available to veterans.
Workshop topics include:
- Pros and Cons of the Revocable Living Trust,
- How to lower your income taxes and avoid Capital Gains Tax,
- How to protect your assets from catastrophic illness and nursing home cost without purchasing nursing home insurance,
- How to avoid tax traps when transferring assets to children,
- Expanded Estate Recovery Law – Government liens placed on senior’s real estate,
- How to avoid probate; and,
- Emerging trends where children are becoming responsible for their parent’s health care.
“Basically, the workshop covers anything pertaining to senior citizens and the protection of their assets and how they can structure those assets should any type of catastrophe should occur in their lives,” McBride said.
The workshops are free, and open to the public.
Cooper and Adel Financial, Agency LLC has four offices in central Ohio, including Centerburg, Monroe, Sidney, and their newest location in Chillicothe. For more information regarding the Elder Law Workshops, call 1-877-401-2175.
