Listen to my interview of Dan Reimer, a Pittsburgh-area based attorney who specializes in estate planning and elder law.  Dan can be reached at https://a-h.law/ and his phone number is 412-486-6624.

1:15 – IRS Officers working from home, focusing on non-filers

3:12 – Focusing on getting returns filed, then step 2

3:38  –  Takes longer to process mailed in returns

4:10  –  Contacting the IRS via phone

5:38- Example for payment plan proposition

7:30 – Our contact info

8:00  –   Dan Reimer introduction – education and career experience, last decade focusing on Elder Law and estate planning

10: 24 – Traditional estate planning and crisis planning

11:30 – Typical client age, 55-75, folks with eye on retirement or retired

12:22 – Will, POA, Living will: the holy trinity, what everyone should have

13:30 – Client initial interview, no “one size fits all” in estate planning

15:12 – Without your own plan, your estate is subject to the government’s plan

15:40  –   Powers of attorney “limited gifting authority”

17:00 – Who do you want making your medical decisions?

17:40 – Utilizing trusts: revocable and irrevocable

19:50 – If everything you own is in a revocable living trust, there is no need for probate

21:44  –  Probate in PA

22:31 – Revocable trust does not protect assets

24:48 – PA State Inheritance tax law

26:17 – Two broad ways to avoid inheritance tax in PA

28:45 – Example: gifting a house

30:37 – Nursing home costs

32:28 – Skilled vs unskilled care; independent vs assisted living

33:46 – Private pay or Medicaid, planning to prepare for this

35:20 – There are strategies that protect estate from going toward payment to nursing home

36:01 – Irrevocable trust, example

37:40 – Once assets are in irrevocable trust, they are not available to anyone other than beneficiaries

38:34 – Income Only trust option

39:54 – What if we need something from the trust?

40:12 – What can kids and grandkids do with money from the irrevocable trust

41:31 – Cannot put IRA in trust

42:04 – Creating a sub-trust, the benefits and security

44:40 – The Secure Act shifting discussion to using money

46:50 – Making sure life insurance goes to the right beneficiary

48:53 – Long term care insurance

50:05 – These policies are expensive and do not usually cover full costs

52:48 – Dan Reimer contact information

Abernethy & Hagerman, LLC.

4499 Mt Royal Blvd

Allison Park, PA 15101

412-486-6624