Legal-Ease: Find win-win-win: avoid taxes, probate and nursing home expenses

While some people seem to believe otherwise, it is not necessary for there to be a loser for every winner. With cooperation, both sides can often achieve success.

As people get older, many people want to achieve three goals: avoid taxes, avoid probate administration, avoid nursing home expenses. Various estate planning structures exist to allow a win in all categories.

With the right planning, minimizing heirs’ eventual capital gains tax obligations is achievable. A properly organized trust can also help avoid probate. Nursing home tools can also be organized to avoid probate and help the family avoid capital gains tax later.

Despite some people’s negative or selfish attitudes, it is not necessary that there be a loser for every winner. In other words, most successful people and businesses have found that they can often cooperate with others, with both sides achieving success. And, sometimes, we can win at more than one thing at the same time.

As we age, there are three goals that can seem mutually exclusive. We often want to avoid taxes, probate administration and nursing home expenses. Believe it or not, there are various win-win-win estate planning structures that can sometimes achieve all three objectives at the same time.

Read more about smart estate planning in Lee’s article in the Lima News here: Legal-Ease: Find win-win-win: avoid taxes, probate and nursing home expenses

Source:, “Legal-Ease: Find win-win-win: avoid taxes, probate and nursing home expenses,” by Lee R. Schroeder, October 6, 2018

Lee R. Schroeder is an Ohio licensed attorney at Schroeder Law LLC in Putnam County. He limits his practice to business, real estate, estate planning and agriculture issues in northwest Ohio. He can be reached at or at 419-659-2058. This article is not intended to serve as legal advice, and specific advice should be sought from the licensed attorney of your choice based upon the specific facts and circumstances that you face.

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