By Robin Crouch
Our Firm’s mission statement is: “The Thom L. Cooper Co. is dedicated to building a continuing relationship with each senior client: to protect their wealth from the devastating costs of a catastrophic healthcare situation; to conserve their wealth for their use during their lifetime; to shelter their wealth from unnecessary legal expense or taxes; and to assure that their wealth is transferred to their heirs with minimal cost or delay.”
I love it when a plan comes together!
Case Study: A Husband and Wife came to us in 1999 to develop an estate plan, both were healthy and living on the family farm. Over the years as their health deteriorated, both ended up in a nursing home. The good news is, with the help of their children, they continued to update their plan to protect the farm and other cash assets for their children. As a result of their ongoing planning, Mom’s nursing home bill was paid by the State of Ohio, Dad’s bill was covered by his long-term care insurance, and the children inherited a total estate of $802,000. Even better, after the death of the second spouse, the estate was approved for the Qualified Farm Use Election and the children saved $24,496 in Ohio Estate Tax while inheriting the farm at current market value.
Want to find out how to make your plan come together? Call us at Cooper Law Firm.
