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ZACHARIA BROWN Protecting Seniors and Their Life Savings
With today’ s seniors living longer than ever before, transitioning to a nursing home is nearly inevitable. And, while many people share horror stories about losing their home or having to use their life savings to pay for nursing home care, that doesn’ t have to happen if you have an experienced elder law firm like Zacharia Brown advising you along the way.
Attorney Carl Zacharia formed the elder law firm Zacharia Brown in 1995. At the time, he recognized that there was a huge need in the expanding elderly community for accurate information and guidance on how to plan and pay for long-term care. Attorney Christine Brown joined him in 2003 and the firm has grown to seven attorneys and 20 employees.
“ Our clients have done all of the right things in life. They have worked hard, put some money in the bank and invested for their retirement. They may have paid for their children’ s education or wedding, paid off their house, and then planned to retire while enjoying the well-earned fruits of their labor,” said Brown.
“ However, not planning for nursing home care can strip all of that away. Most people don’ t realize that their health insurance does not cover extended nursing home stays. And with the monthly cost of nursing home care averaging around $ 10,000, not planning ahead can have devastating results. People can potentially lose everything they have. We provide the guidance and counsel to protect and preserve assets so that our clients can have sufficient means to pay their bills on a monthly basis and live securely into retirement.”
One of the key components to formulating a successful long-term care asset protection plan is a well-drafted Durable Power of Attorney( POA). However, according to Brown,“ not all powers of attorney are created equal.” This is especially true in the area of long-term care planning, where there are specific powers that must be contained in a POA document in order to allow for proper asset protection planning.
Another essential tool that is utilized in planning for long-term care is an irrevocable trust. This type of trust differs from a revocable trust, which does nothing to protect your assets from long-term care costs. Consequently, if you are in your late 60s with concerns about longterm care, a revocable trust should not be a part of that conversation. Revocable living trusts can even cause significant issues with asset protection planning, including the exposure of an individual’ s home to estate recovery if someone requires nursing home care.“ There’ s zero benefit, which is why we utilize irrevocable trusts when creating asset protection plans for our clients,” said Brown.
The attorneys at Zacharia Brown have a wealth of knowledge and experience in the complex field of Elder Law Planning. Consequently, their clients can feel confident that they will not fall victim to loopholes or exceptions that may be created by poor planning or faulty execution of a plan.
On a final note, if you think Zacharia Brown’ s services are just for clients who have the most to lose, think again. Brown said the bulk of their clients are middle- to upper-middle-class working families.“ We are here for anybody concerned about having something to lose. Everyone is equally as vulnerable,” she said.“ We will take a look at any client, and if we see a way to preserve their estate, we will definitely try to help.”
Zacharia Brown serves clients throughout western Pennsylvania and also in Florida. The local offices are in McMurray, McKeesport and Wexford; and Zacharia, who is licensed in Florida, also travels to the Bradenton and Pompano Beach offices. For more information on Zacharia Brown, visit the website at PittsburghElderLaw. com and“ like” and follow the firm on Facebook and Twitter. You can also call directly at 724.942.6200. The McMurray office is located at 111 West McMurray Road.
SOUTH HILLS OFFICE 111 W. MCMURRAY ROAD MCMURRAY, PA 15317 PHONE:( 724) 942-6200
PittsburghElderLaw. com 724-942-6200
MCKEESPORT OFFICE 4500 WALNUT STREET MCKEESPORT, PA 15132 PHONE:( 412) 751-5670
NORTH HILLS OFFICE 7500 BROOKTREE ROAD. WEXFORD, PA 15090 PHONE:( 724) 942-6200
FLORIDA OFFICE 8470 ENTERPRISE CIRCLE, STE 300 BRADENTON, FL 34202 PHONE:( 941) 705-0804
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