Maistros Legal Services Inc

11/28/2024

08/24/2024

Stop attending Wine and dine dinners. Estate planning is more than just documents.

Collaboration with advisory team members in Estate Planning and Small Business Succession Planning is vital to building and holding wealth.

In the few months I have been working in the trenches at Probate, working with dysfunctional families, and trying to move cases forward and through the process with people and advisors, I have found that people focus on emotio and advisors do not collaborate. This means no solutions that work and more wasted time.

In Nov/Dec I helped an older client move to from another state to Ohio to be with her best friend of 60 years and her friends family. She was and is an independent strong woman and it took time to admit she needed help. Due to their working together with me, we have reviewed badly written Estate Planning documents to get her documents to work in Ohio with her Friend as her POA and Trustee, and to name successors if needed in the future.

Once we righted the documents,reviewed her goals and concerns and rewrite documents to reflect this along with taking care of her until death and keeping her faith values alive, we tackled the review of the assets. This single woman built up an amazing nest egg from a long valued career. We found that the old investments and the need to keep them in retirement plans was not serving her best. Most planners do not understand the taxable deductions allowed legally for assisted living and long term care solutions needed for medical purposes. They can allow us to shift taxable dollars from retirement plans to be taxable now but have enough valid deductions to not pay high taxes. The shift allows us to hold and invest Trust assets at a higher rush since we can show she has enough income and assets to care for her.

Then begun the working to gain control and move the assets to local advisors, gain better reporting and build relationships where the clients and trustee can have faith not only in my skills and experience but others in the team.

It is important for people that are not always that financially oriented to be able to have advisors working together, asking those questions that inside they think are stupid. We all have different strengths and when we collaborate, it is exciting and satisfying!!

Getting focus on the True Picture either for yourself or your loved one that you have POA or Guardianship over will help you keep them safe, healthy and allow the funds to last longer.

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02/23/2024

THE PRUDENT MAN.

This week I am working with 5 families whose loved one passed around the holidays. Though they were old & being cared for in a facility, the loss is still felt and true. It "Triggers" the loss years ago when suddenly they were told by a doctor or nurse that they either had onset Dementia or Alzheimer's or full blown but hid it well. No matter what transitions bring the Named Parties on the Documents (Will, Power of Attorneys, Health Care Power Attorney forms, Revocable & Irrevocable Trusts) into action mode. Many have never seen nor know the details. Overwhelming shock is felt.

As a Trusted Advisor who works with my clients to set up Estate Plans that they design with their Financials, concerns, goals for life, goals if they are incompetent and what happens at death, we also discuss family dynamics as the people will come into play at different points and the person in charge will have to deal with. This is time spent and paid for to review the problems & discuss solutions.

A Trusted Advisor Attorney gathers information, discusses law, facts & concerns and designs the documents to reflect this. The client reads the documents & marks their questions, & we come back again to fine tune the documents. The documents are usually not needed until much later when that person cannot speak up or make decisions for themselves, or leaves this world. Estate Planning, Tax Planning, & Business Structuring and restructuring should be very hands on with homework, dialogue & discussion. They should never begin in a world full of strangers getting a "free dinner" with a fear based presentation and the canned solution.

In Law, The Prudent Man is a basis for review in Probate Guardianships, Estates and Trusts.

"Reasonable or Prudent man is a hypothetical person used as a legal standard especially to determine whether someone acted with negligence. This hypothetical person exercises average care, skill, and judgment in conduct that society requires of its me.

01/31/2024

Sole GOP council member arrested at a public meeting. Court found this was a breach of her constitutional free speech. The other council members were ordered to pay damages and their political position did not give them the protection of immunity.

“
Calabrese, in Tuesday’s ruling, said the evidence showed that Frenchko’s “speech caused her arrest.”

The defendants are not entitled to immunity from damages, he wrote, because the law has “long recognized that any reasonable official would know that the First Amendment does not countenance the arrest of a person for engaging in protected speech.”

One of Frenchko’s attorneys, David John Betras, a former Democratic Party chairman of a neighboring county in northeastern Ohio, said he represented the Republican official in court because the case has “nothing to do with politics.”

“We can’t arrest each other because you disagree with them politically. Once you start down that slope, it’s bad news for all of us,” Betras said. “Who arrests someone for disturbing their own meeting?”

The criminal charge against Frenchko was dropped several weeks after her arrest.

The Ohio case echoes other recent instances in which elected officials have been punished over speech.”

News coverage of her arrest is in comments.

Judge rules that Ohio official's rights were violated when she was arrested at a public meeting for criticizing a sheriff.

11/10/2023

Are you interested in learning about you need in place for Estate Planning? Many think about Estate Planning only for death, but one of the biggest areas that many will face in years to come is Disability. Empowering your family by putting someone in place that will take of care of you is important, but so is the difficult conversations that the Sandwich Generation must face. They will step in care for you, but they are also taking care of their own families and sometimes need to change direction and work less, make less to be able to do this.

Come and hear about what should be in place and things to think about to have a family meeting that could make sure your children continue to have relationships after you are gone.

The conversations are important before anything happens as the documents really working when it happens. Families need each other. Estate Planning should take into account more than a Will.

08/26/2021

For those who are seeing their elderly parents and others they care about age, it is very important that they have their Estate Planning Documents in order and that someone they trust is watching over them.

A Durable Power of Attorney form recorded in the County they live can be valuable to helping them. A Power of Attorney is MUCH lower than a Probate Guardianship which is thousands of dollars and intrusive to the person and the one caring for them.

Other issues that have come up this up are:

1. Family members that don't get along not doing the right things for the person that needs care. I have spoken to so many people this month that are quite accountable and reliable but as soon as the other family members start poking it puts me in the position of counselor and trying to redirect them to focus on the duty to the person that needs care. Make sure you know which child will show up and make sure you empower them to be able to handle medical, legal and financial matters for you. Also make sure to make your wishes known about care. There are options, but role reversal between parent and child is very difficult.

2. Snowbirds need to make sure they empower in both states by putting documents in place that will work in both of the states they spend time in. Right now I am working with a woman in her father that was in great health and suddenly had a stroke. No Power of Attorney. No keys and knowledge to things, and no really family in the southern state. She has a job up here and we are now working with a Probate Attorney in another state and here to get this man back to Ohio and cared for. The cost is much more and it could have prevented with a plan and documents that work.

3. When I work with people on their estate plan, I ask for documents. I am reviewing legal titles of accounts and real estate and making sure beneficiaries are named. By doing this and putting their wishes in summary along with their assets, when a problem happens (like a stroke) we have the information to be able to work through issues without a court. In my 30 years of practice, I have never had an issue with having my clients share their info and statements. We are looking to structure to avoid probate, make sure we review their situation and look for possible problems that need solutions, and we have a road map for the child appointed in their Will and Power of Attorney. This will not only save money and time, it will prevent the client from being destitute and on medicaid when they don't need to be.

Review of facts, goals and circumstances are very important to creating a strategic plan that will work when you need. It helps put the correct documents in place, and empowers the person you name to handle your legal, financial and health matters, and to make sure the people you want to receive your legacy will receive it.

06/04/2021

Many children step into the role of Trustee without fully understanding their duties. Their first duty when taking over is to make sure their parent(s) are in a good environment, and then they must go through the paperwork to put a Personal Financial Statement together and determine what is in trust and what might need transferred to the trust.



Once you have your summary, you are tackling a budget, and also as Trustee, you need to review the Trust and create an Accounting which will need annual files to keep track of the details.

In most cases, there will be remainder beneficiaries and the investments will need reviewed to make sure you are investing for the current and remainder beneficiaries. Trustees have Fiduciary Duties.

If you are looking to put a Trust in place or have a Trust, lets review if you are empowering your named Trustee to do the job. If you are a Trustee and need an advisor that will help you throughout the time you serve, I would like to make that job easier for you.

Find Ohio attorney Georgia Maistros in their Hudson office. Practices Business, Elder law, Estate planning. Find reviews, educational history and legal experience.

05/28/2021

04/28/2021

All cases do not need to be fought in court. What should your attorney be asking you in order to determine if your case should be settled or fought?

1. You will determine together what the cause of action is, and what evidence you have. There is a degree of evidence per Rule of Law and a Level of Proof. Your attorney should be honest with you because the cost of litigation (hourly) is high to result in a loss of time and money.

2. What is your pain threshold, and what are you willing to settle this for? Knowing this up front allows the attorney the strategy to work on the other side for a settlement.

Don't believe all attorneys want to rack up their hourly billing, because in most cases when the attorney racks it up and the client is not engaged, they will not likely see full payment. An Attorney's time is worth much more than fighting for free.

Strategy, honesty, and real discussion helps to resolve cases more quickly AND they also allow you to save relationships and grow your business. Be smart about time and facts.

Today I settled a case for 58% of the true judgement of the case and it was settled in less than 8 weeks for much less than you would think. It did take decision making and accountability on my client's part.

04/22/2021

Owner's are you ready to move on....don't shut your doors, explore your possibilities!!!

Louie's message this past fall, 2020:

"After 28 years, Louie’s Bar & Grille closed its doors on October 18, 2020, citing issues involving COVID-19 and mandated seating capacity. The pandemic also resulted in Louie's making cuts to their staff."

People forgot about them, what did this post do? Swamped, but they had already let go of staff. They were going to sell the building they owned and housed Louie's in.

Everyone needs to understand that this is a time of opportunity, and sometimes you have to present it.

Let's take a look at your current situation, your staff and others around you, and dream of the opportunities that might be there for you?

This place did not have to be dying before the owner saw that were others, outside of their family, that were interested in taking their legacy into the future. Make sure you don't waste the biggest investment of your time and money - your small business!

Make this part of your annual review - prepare for the future.

It appears that at some point, longtime Akron staple Louie's Bar & Grille will reopen its doors. And when it does, it will be under new ownership. On Monday, the Khoury family took to Facebook to announce that they have sold Louie's. "Louie's Bar and Grille is now under new ownership," the Khoury fa...

04/01/2021

As an Estate Planning and Probate Attorney, I need to really think about who my client and their family is. My client today is younger than he appears to be. Too young to have a mother in a Nursing Home and trying to juggle all the legalities, financial matters and the emotions that happen when we reverse our roles with our parents. I remember that feeling in my own life. I work with my clients to let them know what the steps are going to be, what I need from them, and we talk about those difficult things like feelings. We are all people and an advisor needs to take this into account when working on a case. Laying out the strategy for the parent and the family is very important to long term success on a case. Today we were having personal property and real estate appraised. Many memories. Much not in place. But when you have the right advisors you work through it. Thank you to Mark Walton of Walton & Associates, First Quality Auction & Realty for a great partner on getting this done today. My job is move things forward, while balancing the emotions that happen during such times.