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Elliott Stapleton, Attorney with CMRS Law
Probate and Estate Planning Attorney Cincinnati, Ohio
Probate and Estate Planning Attorney Cincinnati, Ohio

Elliott Stapleton, Attorney with CMRS Law's interests
Elliott Stapleton, Attorney with CMRS Law's posts

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In this webinar on November 15, 2016 we will discuss different options available for families who want to protect the surviving spouse from creditors and predators while also allowing flexibility with the use of assets.

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For business owners interested in the legal changes for salaried versus hourly employees, here is a video from the department of labor explaining the update and rationale behind the changes:

These changes take effect on December 1, 2016

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How does adoption affect the child’s right to inherit?

The right of an adopted child to inherit from a biological parent is severed when the final decree of adoption is issued or an interlocutory order of adoption becomes final.

There is an exception to this standard.

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There has been a very recent legislative change in Ohio which will require your Financial Power of Attorney to be updated. This change relates to potential Medicaid and long-term care services which go into effect on or after July 1, 2016.

All Ohio Financial Powers of Attorney must specifically allow the attorney-in-fact to create a Qualified Income Trust (QIT). Previously, a Financial Power of Attorney only required the general power to create a Trust.

While you may not be close to going into a long-term care facility, it is still important to update your Estate Plan to reflect this legal requirement. In addition, if it has been more than three years since your Estate Plan was completed, now might be a good time to review and ensure your plan is still consistent with your goals.

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Have you considered the possibility that you, your spouse, or your parents will become disabled and require a long term care facility? Without considering this possibility, your family may have a significant financial blind spot.

The current cost for a private room in a long term care facility is, on average, $97,455 per year (about $8,121 per month).

There is good news. With proactive planning, you can limit the risk of all your assets being lost to long term care expenses. 

To learn more register for our webinar on May 10, 2016

Click here to register: 

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Congratulations to +Drive Media House  on your Cincinnati USA Business Awards nomination -

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With the increasing cost of nursing home care, proactive steps are necessary to protect what you (or your parents) earn with Medicaid asset protection planning --
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