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Second Half of Life Podcast
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Second Half of Life Podcast

Author: Steinbacher, Goodall & Yurchak

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This podcast explores the many issues and topics related to elder law - the wide range of legal matters affecting people in their second half of life and individuals with disabilities. Produced by Steinbacher, Goodall and Yurchak: Your elder care and special needs law firm, providing quality representation in litigation, with locations in Williamsport and State College, Pa. Visit our website at PAElderCounsel.com.
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Originally recorded just a few days prior to the 2021 presidential inauguration, but with information that should prove to last far beyond the standard four or eight years of a presidential or governor's term in office, this episode is for you if you'd like to make sure your estate is protected regardless of who or which political party is in power. Attorney Julie Steinbacher helps you uncover important legal steps to consider to safeguard your second half of life, no matter who holds the levers of power in Washington or Harrisburg. Julie discusses four things that you need to know and address to make sure you, your family and if applicable, your business, can weather any policy changes that come from state or federal government regarding estate planning, and ensure that your goals are met and wishes fulfilled as it relates to your assets, beneficiaries, and estate. 
In this episode, the second of a five-part series of short episodes centered on Alzheimer's planning, Attorney Julie Steinbacher speaks with Jeffrey Dauber, education and outreach coordinator for the Greater Pennsylvania chapter of the Alzheimer's Association. They go through the different stages of Alzheimer's - early, middle and late, or sometimes also referred to mild, moderate and severe - and some of the symptoms of each stage. They also discuss things that family and caretakers need to consider with each stage, as well as the legal impact and when it is important to do what from a legal standpoint, and considering the toll it can take on caretakers.  To watch a video of this talk, visit our YouTube channel.For additional resources on Alzheimer's, visit Alz.org. Check back in the coming weeks for the remaining three parts of this series on Alzheimer's. 
What is the greatest gift you can give a loved one? While this is certainly subjective, and this questions can have different answers at different times in a person's life, our law firm strongly believes that the greatest gift you can give a loved one is peace of mind and protection. How can this be accomplished? Well, listen to this episode for a detailed explanation as it relates to estate planning, as Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty discuss the basics of estate planning, and how addressing each one of these foundational pieces of the estate planning process can give your loved ones that protection and peace of mind that everyone should enjoy, especially in their second half of life. This is a recording of a virtual seminar originally presented on Dec. 10, 2020. To view a video of this presentation, visit our YouTube channel. 
In this episode, the first of a five-part series of short episodes centered on Alzheimer's planning, Attorney Julie Steinbacher speaks with Jeffrey Dauber, education and outreach coordinator for the Greater Pennsylvania chapter of the Alzheimer's Association. They discuss what exactly is Alzheimer's, the importance of getting an accurate diagnosis and an early diagnosis, some symptoms of the disease, its impact on others and understanding this impact. To watch a video of this talk, visit our YouTube channel. For additional resources on Alzheimer's, visit Alz.org. Check back in the coming weeks for the other four parts of this series on Alzheimer's. 
Steinbacher, Goodall & Yurchak is debuting some new virtual seminar topics and formats in 2021. Our first brand new seminar is scheduled to debut tomorrow, Jan. 26, 2021. Here is a brief preview of this new seminar, which will feature Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty presenting "The Three Secrets Nobody Tells You as You Enter Your Second Half of Life." The full presentation will run a little under an hour, between approximately 45-55 minutes. If you like what you hear, you can be among the first to see and hear it by registering for this and other future seminars here:https://www.paeldercounsel.com/register-for-a-seminarFor a video clip of this preview, visit our YouTube Channel. If you're interested in hearing more, but aren't able to attend the live virtual seminar on Jan. 26, don't worry, we'll have a recording of the full event to publish on here soon thereafter. 
In this episode, a recording of the third and final portion of a three-part tax seminar presented in December, Attorney Megan Ingram-French, our firm's newest attorney, gives an overview of how our firm handles business succession planning for our clients, with a few appearances by firm owner Julie Steinbacher. They lay out why business succession planning is so important, despite the fact that only 21% of business owners have a specific transition plan in place according to a recent survey, and discuss both the benefits of doing so, and the consequences of not having a plan in place. In the second part of the presentation, Attorney Brittany Smith focuses on inheritance taxes and "how to avoid Uncle Sam's wrath when a business owner passes away." She discusses the structuring of the business and the owner(s)' estate plan in the context of a business succession plan, with the goal of minimizing the inheritance tax burden of those that may inherit a business. This presentation was given on Dec. 8, 2020, as part of a half-day tax seminar primarily intended for financial and accounting professionals. 
The SECURE Act went into effect about a year ago, on Jan. 1, 2020. In this episode, Attorney Jenna Franks discusses the SECURE Act's effect on estate planning, based on the firm's experience in planning with clients over the last year. While originally given to a group of professionals, this presentation can be helpful for those about to begin their estate planning and those that have already done some planning, but who could be affected by the provisions in the SECURE Act. Jenna also gives a few case examples of how the SECURE Act has affected hypothetical clients with certain IRAs to pass to their heirs after they pass.  This presentation was given on Dec. 8, 2020, as part of a half-day tax seminar primarily intended for financial and accounting professionals. To watch a video of the same presentation, complete with PowerPoint slides, visit our YouTube channel. 
It has been said that the only two certain things in life are death and taxes. While you ultimately can't avoid either, you can have your way after you pass away. In this episode, Attorney Brittany Smith and Long-Term Care Planner Tammy Zilske give tips for effective estate administration, so that you can allow a difficult time for your family to be made easier while ensuring that appropriate decisions are made on final distribution of your estate. Among the topics discussed are understanding the probate process, guidelines and time frames, rules governing state and federal estate inheritance and estate taxes, the importance of naming trusted beneficiaries, legal documents that protect a spouse after the other spouse passes, and much more. This episode is an audio recording of a virtual seminar originally presented on October 29, 2020. To view a video of this presentation, complete with PowerPoint slides, visit our YouTube channel. 
Just as she kicked off our rebranded podcast earlier this year while we were in the midst of the COVID-19 shutdown in April, Attorney Julie Steinbacher, our firm's founder and owner, now wraps up our first podcast season with this final episode of 2020, which appropriately looks ahead to 2021 from a small business perspective in light of all that has happened in 2020. Among the topics discussed are COVID-19 vaccinations from an employer standpoint, caring for employees and the importance of procedures, grants, PPP loan forgiveness, and the Families First Coronavirus Response Act (FFCRA), which is currently scheduled to expire after Dec. 31. If you are a small business owner or manager, this is a presentation that you should find very helpful as you look ahead to 2021. This presentation was given on Dec. 8, 2020, as part of a half-day tax seminar primarily intended for financial and accounting professionals. To view a video of this presentation with PowerPoint slides, visit our YouTube channel. If you'd like a copy of the book referenced at the beginning of the podcast, or would like to see examples of the employee policies that Julie talks about later in the podcast, please email info@paeldercounsel.com or call 1-800-351-8334 and reference this video. And don't forget to subscribe to our podcast on your favorite directory, as we'll have plenty more new podcast episodes for our second season beginning in January 2021. 
Of course we always recommend that people are proactive rather than reactive with respect to doing their estate planning and discussing it with other loved ones as appropriate. Generally speaking, those that are proactive as opposed to reactive will have better outcomes. However, as a practical matter, it's seldom easy to talk about with your children what you want to happen after you pass away, nor is it easy for an adult child to bring up the subject with their aging parents. In this brief podcast episode, an excerpt from a virtual happy hour discussion held November 18, 2020, Long-Term Care Planner Kristin Daugherty and Specialized Care Planner Holly Reigh give some tips about having these types of difficult conversations with family members. Kristin also shares a story as an example of what could happen if you never even broach this difficult topic, and also cautions about waiting until the New Year to consider a nursing home for an aging loved one. 
In this episode, a brief clip from a virtual happy hour discussion held on November 18, 2020, Long-Term Care Planner Kristin Daugherty talks about what you should do if, after visiting aging family members over the holidays, you notice a decline in a loved one's health - either physical or mental. She also discusses what sets elder law firms like ours apart. 
What do we mean when we talk about estate planning? Well, there's a lot that it entails, and to get into everything in depth, it takes a lot longer than just five minutes. But, in this clip from a virtual happy hour event event from November 18, 2020, Attorney Jenna Franks gives a short version of what we're generally talking about when we refer to estate planning. Jenna gives a few tips on what is most important to be aware of regarding Wills and Powers of Attorney, and also gives a tip about an unconventional place that some people keep their actual legal documents if they don't have a fireproof safe.  She also offers advice about making sure adult children or another appointed person is aware about where documents and assets are located, even if you don't want to share too specific information about assets. If you're interested in hearing a longer and much more detailed and in depth podcast about estate planning, check out episode 40, titled "Basics of Estate Planning," featuring Attorney Julie Steinbacher. 
In this episode, Attorney Brittany Smith and Long-Term Care Planner Tammy Zilske discuss legal strategies that are available to anyone and everyone that will help minimize the financial and emotional impact of a healthcare crisis for  you or a loved one. Learn more about the five-year Medicaid lookback period and how to use that to your advantage to qualify for Medical Assistance to help pay for long-term care if you need it in the future, or even right now. Brittany and Tammy also discuss the foundational legal documents that everyone needs, legal strategies that will protect your home and assets from the cost of long-term care, why starting early BEFORE a healthcare crisis is critical and will lead to better outcomes, and different planning options that put YOU in control. This is an audio recording of a virtual seminar that was originally presented on October 14, 2020. To view a video of this presentation, complete with PowerPoint slides, visit our YouTube channel. 
In this episode, a recording of a special virtual seminar given in honor of Veterans Day 2020 and all of the brave veterans out there, Attorney Brittany Smith and Long-Term Care Planner Tammy Zilske aim to help them achieve their mission of unlocking the full potential of their VA benefits. Topics discussed include eligible wartimes and available benefits for spouses, how to access the three levels of monthly pension, income and net worth limits (which isn't the same as your standard net worth) including the maximum annual pension rate, utilizing VA benefits to pay for nursing home care, the three-year VA look back and other gifting guidelines, and more. If you are a veteran that may be eligible for VA benefits now or in the future or are currently receiving them or plan to in the future, this is an episode for you. 
In this short clip from a virtual happy hour discussion held with a private group in October, Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty talk about the importance of not only have a Power of Attorney, but also that the document is done correctly and accounts for all reasonably possible situations. Kristin also gives an example of something that all financial POAs should have and if they don't, it could create a major problem when trying to protect assets from long-term care costs. 
A bad fall, stroke, dementia diagnosis, or other unexpected illness are things beyond one's control that could create a need for nursing home care, either temporarily or for the long term. But are you prepared for the financial ramifications of requiring nursing home care, either for yourself or a loved one?In this episode, Attorney Jenna Franks and Long-Term Care Planner Kristin Daugherty discuss legal strategies that are available to everyone to help minimize the financial and emotional impact of a healthcare crisis. Among the topics they discuss are what long-term care insurance covers, what both Medicaid and Medicare pay towards the cost of long-term care, how you can protect your home and other assets from the rising cost of long-term (hint: it's best to start planning early while you're still in good health in order to get the best results), and what you can do if you're currently in a crisis or a loved one is already in a nursing home and you haven't pre-planned. This is an audio recording of a virtual seminar originally presented in October 2020. To view a video of this episode, complete with PowerPoint slides, visit our YouTube Channel. 
In this podcast episode, an audio recording of a virtual seminar originally presented to a private audience in September 2020, Attorney Julie Steinbacher, founding shareholder of Steinbacher, Goodall & Yurchak,  discusses everything one would need to know about planning for the second half of life, with a particular emphasis on IRAs, trusts and taxes. She begins the presentation by talking about the foundational documents that everyone should have, such as Wills and Powers of Attorney, and goes into some more detail about the different types of POAs. In the second half of the episode, she then discusses trusts and their objectives,  IRAs and other qualified retirement plans, as well as taxes and how those should factor into retirement planning and potential planning for long-term care, and estate planning. To view a video of this presentation, complete with PowerPoint slides, visit https://www.youtube.com/watch?v=lkdthjvkSQE
What if you or a family member have an unexpected health crisis, such as a fall, stroke, accident, or dementia diagnosis? What if this crisis leave you or your loved one in need of some form of long-term care? What are your options, and how will you pay for this care?In this episode, a recording of part of an informal virtual discussion held in September 2020, Kristin Daugherty and Tammy Zilske, our firm's two Long-Term Care Planners, discuss the different levels of long-term care and what each entails, as well as how each is or can be generally paid for - though each individual situation certainly varies - and which ones are eligible to be paid for by Medicaid benefits. Both Kristin and Tammy are also Certified Medicaid Planners - two of only three in all of Pennsylvania as of 2020 - and they help clients every day with submitting Medicaid applications when they require long-term care. A video of this same presentation can be viewed on our YouTube channel https://www.youtube.com/watch?v=9tYrgqJNrtM
So, you have a Power of Attorney. First of all - what kind of POA is it - financial, healthcare, living will, mental health, or all of the above? What is in it? How long ago was it drafted? Have any of your personal circumstances changed since it was originally done? It is critically important to review your POAs periodically, because if there are critical components missing, it can greatly affect someone's ability to carry out the wishes of an incapacitated loved one. It can also affect a elder law attorney's ability to help both parties, which could potentially lead to long and expensive legal proceedings involving the courts. In this brief episode, long-term care planner Tammy Zilske explains more about the importance of having good quality POAs, and the possible consequences of having out-of-date or incomplete POAs, or none at all. 
In this brief episode, a clip from a virtual event in September titled "Piecing Together the Long-Term Care Puzzle," Long-Term Care Planner Tammy Zilske talks about the use of a Medicaid Compliant Annuity to help pay for the cost of long-term care and to help qualify an individual for Medicaid benefits to pay for the cost of long-term care. The rules for such a product are complicated, so it is recommended that you consult an elder law attorney (like our firm!) before purchasing one. 
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