The Five Key Trusts You Must Know

August 8, 2014

by David Zumpano with No Comment Asset Protection Estate Planning Drafting Software Legal Marketing Medicaid VA

Did you know that when it comes down to it there are only *five* trusts that serve 99.7% of all client needs? These include:

The revocable living trust;
The income only irrevocable trust;
The control only irrevocable trust;
The third party irrevocable trust; and
The completed gift irrevocable trust.

This is all you need to serve 99.7% of all clients. The overindulgence in conversation about DAPT'S, GRATS, GRUTS, FLPs, and other advanced tax planning strategies are for mental exercise only and apply to less than 3 in 1,000 Americans.

The correct trust choice for clients when designing planning to protect their businesses, ensure they qualify for Medicaid, if the need for long-term care occurs, or the preservation and maximization of veteran's benefits, trust choice is critical. But more important than trust choice however, is the drafting utilized inside the trust chosen.

That's why the national Medicaid and VA experts are hosting a three day program to bring you together with your colleagues to show you the solution they have created to these often misused trusts. Click here for the course outline and to register. This three day program will not only address trust drafting and trust use, but also address all of the core elements in today's Asset Protection, Medicaid, and VA Benefits environment.

In just three days, we will show you…

ASSET PROTECTION:

Recent updates to asset protection and Medicaid compliant strategies.
The new asset protection strategies dominating the marketplace.
The death of DAPT'S, FLP'S, GRATS, GRUTS, and tax planning, and what's replaced them.
The five essential trusts and key drafting needs to serve 99.7% of clients.
Four "must have" drafting considerations and three "most forgotten" powers in trust.

MEDICAID:

Four steps to Medicaid eligibility for any client.
How to calculate the "breakeven" to ensure the proper filing date for the shortest penalty period.
Medicaid Qualifying Annuities: Hidden risks and how to properly disclose them to clients or protect from them.
The seven key factors to calculate any Medicaid case in seven minutes (or less!).
IRA's: Exemption versus taxes, how to calculate if IRA's should be liquidated or exempted in Medicaid and VA cases.

VETERANS' BENEFITS:

New claims process for veterans and widows.
Qualifying assisted living facilities as UME's.
Key choices to complete the physician affidavit for more timely approvals.
Update on three year look back for VA benefits.
The key reports no longer required for VA applications.
Dangers of annuities in VA benefits planning.
The effects of the Supreme Court decision on DOMA related to veterans benefits.

ALL PARTICIPANTS IN THIS SUMMIT WILL RECEIVE:

Asset Protection, Medicaid and VA Practice Kit which includes:
50 state Medicaid Reference Resource Guide (summarized in 3 pages)
50 state Estate Recovery Article and updated state by state summary.
Grantor Trust Summary and use tool.

HERE'S WHAT YOUR PEERS HAD TO SAY ABOUT THE PROGRAM:

“You don't know what you don't know. Come learn how to best serve your clients.” –Matthew Donald

“I would consider this mandatory training for any elder law/estate planning attorney. If not, they should plan for a mediocre practice at best.” –Tim Jarvis

“Just do it. The tools and training will absolutely be worth it!” –Rod Halstead

If you are ready for strategic solutions that you can see, touch, and feel, this is not an event you will want to miss. Click here now to begin your strategic approach to solving your clients' trust needs.

To Your Success,

Dave Zumpano
Co-Founder, Lawyers With Purpose
Practicing Attorney, Just Like You!

Congratulations to Peggy Timmel, LWP Member Of The Month

August 5, 2014

by Lawyers With Purpose with No Comment Asset Protection Estate Planning Drafting Software Legal Marketing Medicaid SNT VA

What is the greatest success you’ve had since joining LWP?

Organization + Confidence = Increasing Success. That’s the formula we now have in place. Sure, we still are working through some of the processes, making them our own and getting the kinks worked out when and as needed. Not all clients initially expect the process to be as involved, but there is no doubt that our efforts are appreciated.

What is your favorite LWP tool?

LWP Meeting Focuser (the green sheet) – it may sound strange to some members, but that sheet is reviewed at the end of client meetings so that tasks are delegated and the next meeting with the client put on the calendar. I’ve been using it for cases that are pre-LWP or non-LWP, like guardianships. It keeps our team more focused and allows us to move our clients through the entire process more smoothly.

How has being part of LWP impacted your team and your practice?

We get to travel three times a year and always come back with something to improve our practice. It has been incredibly helpful to have the support system that LWP provides. The members provide a great community of support and the LWP systems and processes give us a great foundation to continually improve our practice.

The VA Benefits Software

July 17, 2014

by David Zumpano with One Comment Estate Planning Drafting Software Legal Marketing VA

Our VA software is very unique. With Victoria L. Collier, the number one V. A. expert in the country, helping develop and create the software.

Many people don't know the eligibility standards around VA benefits. They know that there is a certain amount of assets and income, but you don't know the amount of assets you can have. In many cases, you can have assets in the hundreds of thousands of dollars and still be eligible. We have the software that uses the VA's own formulas in making these determinations.

In addition, our software is very unique in that you could enter client information and it will generate the necessary documents for the application. We have a complete application process that is tracked through a client management system which gives you reporting, so you're very familiar with where each case stands and what step of the process it's in, the forms that have been completed, which ones are done by clients, which ones are done by the office, and the software will generates those forms.

Very unique and different, unparalleled in the industry. Very user friendly for any law practice that's experienced, or doing veteran benefits for the first time, they can confidently ensure that their paraprofessionals are able to handle a large majority of this work. And they can keep tabs on it with the reporting to be confident that they're not missing any major deadlines.

It’s great technology to help any practitioner be confident that they're not missing anything!

If your interested in learning more about the LWP-CCS drafting software, join us in Phoenix October 20-22nd at our Asset Protection, Medicaid and VA Practice With Purpose program. Click here to register today! Existing members who would like to participate can contact Angela at acrowther@lawyerswithpurpose.com

David J. Zumpano, Esq, CPA, Co-founder Lawyers With Purpose, Founder and Senior Partner of Estate Planning Law Center

Integrating Easy

June 18, 2014

by Lawyers With Purpose with No Comment Legal Technical Medicaid Systems & Processes VA

Tiffany Brown, Vice President of DocuBank, again join the Lawyers With Purpose blog as a guest and shares her perspective of how the administrative part of running a practice can be daunting.

Whenever you find something that builds value AND is simple to set up, it’s a win-win.

Thanks to some clever programming on the part of Lawyers with Purpose, getting started with DocuBank is one such winning proposition.

The DocuBank service is a value-added benefit for both your clients and your firm but it’s also one other very important thing – easy.

The DocuBank enrollment form is built right into the Lawyers with Purpose software so that your clients simply sign the form during the signing meeting and your staff then sends it along with the documents to establish their membership. Any information not supplied by the software can always be added by the client at a later date.

Getting started with DocuBank is easy. We have been working with attorneys for more than two decades to establish and comprehensive turnkey process. Having the software integration as part of the DocuBank and Lawyers with Purpose partnership means that the DocuBank solution is even easier for you to implement.

The discounted rates available to you through Lawyers with Purpose mean that adding DocuBank memberships to the service you provide for your clients is also affordable. Click here to find out more about DocuBank.

Click here to find out more about how DocuBank can be a great value-added tool for your firm and your clients.

Tiffany Brown, Vice President, DocuBank

Roslyn Drotar – Coaching, Consulting & Implementation, Lawyers With Purpose

Judge James Hill, WWII Veteran, Visits Normandy for 70th Anniversary

June 6, 2014

by Lawyers With Purpose with No Comment VA

One of the best parts of my trip to Normandy to commemorate the 70th Anniversary of D-Day was the people I met and interviewed. Along for the trip was 90 year old, Judge James Hill, Senior Judge with the United States Court of Appeals for the Eleventh Circuit. In fact, he had a few cases to hear on the bench upon returning home from France.

Judge Hill served in the United States Army Air Corp from 1943 – 1945 in communications. He was stationed in England when the events of D-Day unfolded. He remembers the lead up to that historic moment. No one knew anything specific, but they all knew in their gut something big was about to happen. From his base in Englad, it was his job to communicate with where troops were in France and wehre they were supposed to be.

As you recall, due to inclement weather, targets were missed and soldiers displaced. Without having the benefit of the internet or CNN updates every minute, Judge Hill knew what was happening only by the communications over the military airwaves. And, the reports did not sound good. It was a pleasant surprise when the tide began to turn and the Allied Forces broke through the gateways on the beaches six hours after the first troops landed.

This was Judge Hill’s second visit to Normandy. Just a few years before, he brought his two sons with him. On this trip, he was among 70 other lawyers and spouses, many of them veterans of subsequent wars. Each visit he said is different, just as each soldier’s experience is different. Seeing something not seen before. Feelings emerge at different times for different reasons. But what remains the same are the fond memories and names of the comrades he got to know as his brothers and the legacy they all left for others.

Thousands of men died on June 6, 1944, storming the beaches. But, many WWII veterans survived the war and returned home to do what they were doing before the war. Judge Hill returned in 1945 and graduated from law school three years later, 1948. One of the stories of his career he chuckles about is that the last document President Nixon signed before resigning office was Judge Hill’s nomination to a seat on the United States District Court for the Northern District of Georgia. Judge Hill was quite concerned the appointment would not take place due to the sudden resignation. But, it did go through, which led to his eventual seat on the United States Court of Appeals for the Eleventh Circuit nomination by President Gerald Ford, where he still presides today as a Senior Judge.

It is important to remember what our military men and women have sacrificed for our country. But, it is also important to acknowledge the wonderful ways our veterans have contributed to our society after their military service has ended. Judge Hill’s life and career exemplify that. We thank him and the many others of the Greatest Generation, and those that have followed.

Victoria L. Collier is a Veteran and Certified Elder Law Attorney, Fellow of the National Academy of Elder Law Attorneys, Co-Founder of Lawyers With Purpose LLC, and author of “47 Secret Veterans’ Benefits for Seniors—Benefits You Have Earned … but Don’t Know About.”

A Day At The Beach: D-Day, June 6, 1944

May 29, 2014

by Lawyers With Purpose with No Comment VA

When I think of a day at the beach, I think of umbrellas, children, swimming, and sunshine. June 6, 1944 was a very different picture at 6:30 a.m. when the “boys” from the 1^st Infantry Division arrived riding Higgins boats on Omaha Beach. It was overcast and storming. The aircraft support troops could not fly in as planned to via an air raid, for fear of hitting the landing craft. The fleet of floating tanks that were expected to be waiting on the beaches, had sunk into the ocean five miles from shore, with only two reaching their destination.

In the water, as well as on the sand, the troops encountered deliberately planted obstruction barriers to prevent the boats from reaching shore. The boats did reach the shore, albeit east of their intended landing place due to strong currents. Many of the men had to wade 50 – 100 yards in water up to their necks, carrying full gear, with guns held overhead, under heavy gunfire. Once reaching the sand, it was open-fire as the troops tried to make it to the multistory-high cliffs and scale them. The battle at Omaha beach took six hours before the Allied forces penetrated a gateway to get through, leaving carnage like no other. The visual I was provided by another was described as “miles of khaki and red” blending the blood with sand.

When I stood there looking out, the beach was quiet and beautiful. The weather was uncharacteristically sunny and warm with clear skies. The only artifacts left are damaged bunkers, grass-grown bomb craters, and the beaches with gorgeous green and blue water flowing in and out. My eyes were trying to see the tankers, ships and soldiers that remained underneath.

My time there was limited, but the memories are forever strong. I could have just turned and left, headed to the next historical site. But I couldn’t. I had to pause and silently say a prayer of honor for those who have served our country in all wars, and for their family members.

The men and women who have experienced war, as well as their families, change after their experiences. But those who study history in-person, not just in books, are changed too. I have always had an appreciation for my WWII clients. But the level of appreciation has heightened now that I have been able to visit the battle sights 70 years later.

Don’t just remember D-Day in years to come, experience it and honor it. My next article will highlight the interview I had with Judge James Hill, WWII veteran.

Victoria L. Collier, CELA, Elder Care Attorney, Co-Founder of Lawyers for Wartime Veterans and Lawyers with Purpose, Veteran, author of 47 Secret Veterans Benefits for Seniors and most recent book, Paying for Long Term Care: Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit.

Normandy: D-Day 70th Anniversary

May 28, 2014

by Lawyers With Purpose with 6 Comments VA

As a member of the Military Legal Section of the State Bar of Georgia, I had the opportunity to visit Normandy in commemoration of the 70^th Anniversary of D-Day, June 6, 1944. Before going; however, I wanted to be prepared for the trip.

Of course I knew that D-Day was a significant part of our history from World War Two. As part of my elder law practice, I meet WWII veterans and their families regularly. As a veteran myself who was enlisted during the Gulf Wars, I have some understanding of what service members go through.

But, I could not conceive of what it must have been like on the beaches of Normandy. Critics agree that the first fifteen minutes of the movie, Saving Private Ryan, conveys the most realistic re-enactment of the event. Thus, to properly prepare for the trip and get myself in the right psyche, I watched the movie again.

I felt certain “touring” the beaches at Normandy would not be the same as going to Walt Disneyworld like I had done just two months before. For one thing, my four year old twins were not able to go on this trip. Also, I would be accompanied by a 90 year old WWII veteran and my film crew to create an episode for Senior Salute, further memorializing the events back then as well as now.

Travel with me and read my next article about my experience from Omaha Beach.

MQA’s Hidden Dangers

May 2, 2014

by David Zumpano with No Comment Asset Protection Legal Technical Medicaid VA

Today, many elder law attorneys rely on Medicaid qualifying annuities to get their clients qualified to receive Medicaid benefits. They're also used when clients seek VA pension benefits.

While Medicaid qualifying annuities have become the default solution, they are not without risk. One challenge is that MQA's do not work well for single individuals. Second, even when used in married planning, there is no assurance the amount placed in the Medicaid qualifying annuity will actually be preserved. In fact, it could all be lost with the subsequent disability or death of the community spouse.

These are just some of the issues (not to mention the Veterans Administration's changing position on annuities when applying for veteran pension benefits) that we will be discussing at the Asset Protection, Medicaid and VA Practice With Purpose Program June 9th – 11th in Chicago.

National Asset Protection, Medicaid and VA experts and dozens of attorneys like you will be collaborating to identify the hidden risks in the different Medicaid and veterans' benefits strategies. This program promises to be the hands-on strategic solving many lawyers crave in their practice. Click here to get a full outline and to register for the program.

In these three days here is just some of what we will cover:

ASSET PROTECTION:

Recent updates to asset protection and Medicaid compliant strategies.
The new asset protection strategies dominating the marketplace.
The death of DAPT'S, FLP'S, GRATS, GRUTS, and tax planning, and what's replaced them.
The five essential trusts and key drafting needs to serve 99.7% of clients.
The Power of Powers of Appointment, in the right places.
Four "must have" drafting considerations and three "most forgotten" powers in trust.

MEDICAID:

Four steps to Medicaid eligibility for any client.
How to calculate the "breakeven" to ensure the proper filing date for the shortest penalty period.
Medicaid Qualifying Annuities: Hidden risks and how to properly disclose them to clients or protect from them.
The seven key factors to calculate any Medicaid case in seven minutes (or less!).
IRA's: Exemption versus taxes, how to calculate if IRA's should be liquidated or exempted in Medicaid and VA cases.

VETERANS' BENEFITS:

New fully developed claims process for veterans and widows.
Qualifying assisted living facilities as UME's.
Key language to complete the physician affidavit for more timely approvals.
Update on three year look back for VA benefits.
The key reports no longer required for VA applications.
Dangers of annuities in VA benefits planning.
The effects of the Supreme Court decision on DOMA related to veterans' benefits.

HERE'S WHAT YOUR PEERS HAD TO SAY ABOUT THE PROGRAM:

"It will change your practice and your life!" — John Koenig
"Great way to grow into a real firm and help one's community." — Antoinette Middleton
"Go to the training session and consider and evaluate upgrading your delivery of services, for me it's modernizing what I can offer." — Wally Kelleman

Are you going to miss or attend the most important event of the year? Click here now to join some of your most successful colleagues in Chicago and to be confident in the strategies you provide every day.

David J. Zumpano, Esq, CPA, Co-founder Lawyers With Purpose, Founder and Senior Partner of Estate Planning Law Center

Lessons from LA Part 2 – Be Prepared, Persistent & Flexible

April 15, 2014

by Lawyers With Purpose with One Comment Legal Marketing Systems & Processes VA

A few weeks ago, I discussed my trip to Los Angeles to interview a big name – Betty White – for my TV show, Senior Salute. The topic of choice was how pets enhance the quality of seniors as they age. Betty White is a huge animal advocate. A date was set, then reset, then canceled.

Was I frustrated, upset and discouraged? YES! But, I decided to take the valuable lessons I learned and celebrate the courage it took to put myself out there and be vulnerable. How many times a day do you or your employees put yourselves out there? Each time you meet with a prospective client, meet with a new referral source, learn and implement a new practice area, like Veterans Benefits, have a difficult discussion about office policies with team members, and the list goes on. The fact of the matter is that we do it all day after day. But, we don’t recognize it or celebrate it. Often we only feel the pain of it.

Oh, I felt pain. I spent about $2,000 to fly to LA and stay in a hotel three time zones away. Leaving my children and out of the office not working for three days. Waiting for the call and the opportunity. Planning in advance, I purchased tickets to attend the live audience taping of Hot in Cleveland, the award winning show that Betty White stars in weekly. I didn’t want the entire week to be a loss. Because entrance is on a first come first seat basis, I wanted to ensure I got a seat so I showed up to the studio 3 hours early (in full stage make up, still with hopes of interviewing Betty). I was third in line, certain to get a seat. I was told to speak with the floor manager about getting VIP status so I could do a “meet and greet” with the cast after the filming. She turned me down, twice. Yes, twice. I was persistent. But, I was also polite. After all, I had a gift to give to Betty that I had carefully selected and purchased in Atlanta.

Once I realized I was not getting access, I felt sorry for myself for a moment and let the hurt and embarrassment set in. Then, I looked around and thought, “I can and will have a great night and enjoy the good of it all.”

What I learned, that we can all practice in our offices, is that:

1. When you want something, go for it. Make all preparations to succeed.

2. Put yourself out there and be persistent but polite. Know when to sit down and enjoy the show.

3. Be ready for anything, but also be ready to accept nothing in exchange of your efforts except the gratification that you took action. Not every at-bat is a home run. Sitting on the sidelines (once in a while) is enjoyable too.

4. Congratulate yourself for the courage it takes to make the decisions you make and take the actions you take. Many people only dream of things they want, but never take the first step toward achieving them.

5. Recognize that failure is sometimes the thrust you need to move forward. John C. Maxwell wrote the book, Failing Forward: Turning Mistakes Into Stepping Stones, that is worth a read.

If your marketing efforts or the implementation of Veterans Benefits into your estate planning or elder care law firm are not going as you expected, stop and praise yourself for the efforts you have made so far. Then, review and make some changes toward the result you want.

P.S. I plan to write Betty White a personal letter, sending her the gift I got for her, and asking for an interview directly. Let’s see what happens!

If you want to come see what Lawyers With Purpose has to offer your estate and elder law practice, please join us in June for 2.5 days full of training on Asset Protection, Medicaid & VA Practice With Purpose program.

Lessons From Los Angeles

March 31, 2014

by Lawyers With Purpose with No Comment Systems & Processes VA

California is known for being different – a place where stars rise and fall every day, working hard to make a name for themselves, then smearing it all over town.

How does this relate to your VA benefits law practice?

I spent four days in L.A. in an effort to interview a big name who would propel my TV show, "Senior Salute," to new levels. The better the show is, the more it can help a broader audience of caregivers and people who are aging.

I had a date for the interview, but no set time. I spent time and money to be present for the meeting, even hiring a local makeup artist to come to my hotel to dress me up. The interview didn't happen. So, why was I there for four long days when I could have been with my family or at the office?

My agent strung me along with little to no communication. It wasn't intentional, but it was frustrating nonetheless.

And it raised a question: How often do you string your clients along without communicating?

I arrived on a Tuesday night for a Wednesday interview. No word from my agent until 11:23 a.m. Wednesday saying, "Not today." At 8:16 p.m., new message received: "Just heard back, we are in for Friday afternoon." The next day, Thursday, February 27, next message, "Are you here tomorrow? They are getting us in about 3:00." Friday morning, no news. I call for a status and my agent tells me we are still only about a 50/50 chance. By 3:00 I knew there was no interview, but not because my agent told me, because if there had been one I would already have received my special pass. Instead, I used a ticket I got on the Internet to watch from the general audience the live filming of a show that night, featuring my big-name star. No VIP status.

Reading the above, it looks like there was constant communication. And if I had complained to my agent about not hearing from her, she would have argued that she was doing everything she could and telling me everything she knew. The problem, from the client perspective, is that she was telling me projections, possibilities and hopeful deliverables. What I wanted were the details of her efforts, the positive and negative conversations between her and her "contacts," so I could set up my own expectations and not feel so duped when the interview didn't take place.

How often and how detailed are you when communicating with your clients? Only when you have good news? Only when you need something from them? Only when they are calling you?

The VA application process can take an uncertain amount of time, sometimes more than nine months. Getting that monthly check to pay for care is the client's only focus, and you are the means of achieving that. It's very much like getting that interview, with my agent being my vessel. Even when there is no new news, clients want to hear that, which is why our office calls the VA each month for a status and then passes the information to our waiting clients. Just showing the details of our efforts is enough to keep them content, if not yet satisfied with the results.

Thus, my lessons from L.A. include:

1. Set and manage client expectations;

2. Use clear, constant and honest communication;

3. And understand the unspoken gratitude from your clients when they are aware of your efforts.

P.S. While at the show, I even took actions to "do it myself" by approaching the set's floor supervisor to plead my case. One of the worst things that can happen is when clients take matters into their own hands because they have lost confidence in you. It rarely makes a difference in the result. It didn't in mine.