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Hosted by Jeffrey Bellomo, Esq., CELA, LLM, and over 20 years of experience practicing in estate planning.  We’ll discuss all things Estate Planning and Law.  Our mission is to help educate so that what happened to the Bellomo family doesn’t happen to you. We hope to answer your most burning questions and support you with a solution to estate planning that works for you and your loved ones.

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  2. Understanding the Value of Planning with Tim Sechler

Understanding the Value of Planning with Tim Sechler

Feb 16, 2023

Tim Sechler is a certified elder law attorney serving residents of Cranberry, Mars, Wexford, Pittsburgh, Butler, and surrounding communities in Pennsylvania (PA). He is a veteran who earned his law degree and MBA from Duquesne University. Tim is licensed to practice law in PA and West Virginia. 

Your host, Jeffrey R. Bellomo, the founder of Bellomo & Associates, is a licensed and certified elder law attorney with a master’s degree in taxation and a certificate in estate planning. He explains complex legal and financial topics in easy-to-understand language.

 

Key Takeaways 

01:29 – Tim’s interest in elder care law

  • Tim’s grandfather spent 10 years in skilled nursing care as an Alzheimer’s patient
  • At that time, the care cost about $700,000 
  • Tim’s father asked a lawyer for help protecting assets, but was told that there was nothing they could do
  • Further research prompted Tim to learn about elder care law and pursue it as his specialty

 

06:25 – Payments vary by type of care

  • Medicare doesn’t pay for the biggest single health care expense that seniors are likely to face—custodial long-term care (LTC)
  • Seniors in LTC are penalized by the system compared to seniors with non-custodial health care needs, which makes elder care planning vitally important

 

09:27 – When choosing an attorney for elder care issues

  • Tim’s firm helps folks with wills and trusts, post-death administration, and nursing home crisis situations 
  • Attorneys who do not specialize in elder care are typically not experienced or knowledgeable enough to effectively help with elder care legal needs
  • High-dollar estate tax planners who cater to the very wealthy typically are not interested in working with middle or even upper-middle income families
  • For most middle and upper-middle income families, custodial LTC is the biggest risk to their home and assets

   

14:07 – Communicating the value of elder care planning

  • Helping potential clients understand the value of elder care planning is a big challenge for law firms in this practice area
  • The cost of estate planning legal fees might seem prohibitive, but it is next to nothing compared to the financial losses that will be incurred by unprotected families when custodial LTC is needed
  • Free educational workshops provide valuable information for decision making

Links and Resources Mentioned

Sechler Law Firm

https://sechlerlawfirm.com/

The Life and Legacy Show

https://podcasts.apple.com/us/podcast/the-life-and-legacy-show/id1520062482

Bellomo & Associates workshops: https://bellomoassociates.com/workshops/ 

For more information, call us at (717) 845-5390.

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LinkedIn: https://www.linkedin.com/in/bellomoandassociates 

Ways to work with Jeff Bellomo

Contact Us: https://bellomoassociates.com/contact/ 

Practice areas: https://bellomoassociates.com/practice-areas/