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February/March 2024
Knocked Down, Not Knocked Out MY NATIONAL GET-UP DAY LESSON IN RESILIENCE
If you didn’t know, Feb. 1 is National Get-Up Day, a holiday meant to honor the moments in our lives where we’ve gotten knocked down, only to get back up and try again. Now, I know a thing or two about getting knocked down. But I also know all about getting back up again, dusting myself off, and using that pain to push forward. You see, when I was in college, I had a little too much fun. I was a freshman at Capital University in Columbus, Ohio, and it was the first time I was out on my own, away from my parents and away from rules. During this time, I had found a group of friends who liked to hang out just about as much as I did, so for most of my freshman and sophomore years, that’s all I did. It wasn’t long after that I was placed on academic probation, which was effectively the school’s way of telling me that if I didn’t get my stuff together, I’d be kicked out. This was a huge problem for me because I knew I wanted to attend their law school after graduation from the moment I applied to Capital University. That dream was over if I was kicked out because of my grades. I realized even then that my situation was self- inflicted, and only one person had the power to change it: me. So, I devised a plan. I figured that if I got straight A’s for the rest of my sophomore, junior, and senior years, I could graduate and get into Capital’s law school. Over the next few years, I fought hard. Going from hanging out with my friends all day to becoming a straight-A student wasn’t easy,
but I gave it everything I had. And, it wasn’t enough. Despite my best efforts, I could only raise my GPA to 2.6, a score I knew would be too low for Capital University’s law school. However, I decided I wasn’t going to give up. I took my LSATs and started applying to law schools across Ohio. I was rejected from every single school I applied to — including Capital University’s law school. In fact, I even started receiving rejection letters from schools to which I never applied! In an act of desperation, I approached one of my undergraduate professors. I explained to her that I was trying to get into law school and asked if she would write me a letter of recommendation. After all, she saw firsthand how hard I had worked as a student. She said no. She would only be willing to recommend me to a paralegal school, something I wasn’t willing to consider. I was knocked down once again. At this point in my story, I did what nearly any 20-something would do when facing a hardship: I went to my dad. He suggested we try meeting with a law school in Pittsburgh, a school just 45 minutes away from my office today. We called and arranged an appointment with the dean before making the drive. Once there, we met with the dean and explained our situation. He informed us that a decision regarding my enrollment had been made, and we’d find out what the school determined in a few days.
I expanded my horizons to law schools nationwide, applying to nearly any school I could find. Ultimately, I was accepted by just two schools — one in Puerto Rico and one in Lansing, Michigan. I went to Lansing. On my first day of law school, all new students underwent an orientation where we had to take an aptitude test and sign up for our classes. I signed up for five classes, a full semester, and waited for my results. But when they arrived, the results weren’t what I expected. Instead of a score, it was a letter from the school telling me that based on my performance, they required me to drop down to only three classes, and they suggested I also seek some extra help, like tutoring services. I was knocked back down once again. But, throughout all of these setbacks, I continued to get up again and again because I knew my life was destined for greater things. So, yes, I took those three classes that semester — and aced them. I went on to graduate in the top 20% of my class and passed the bar exam on my first try. I went on to become a prosecutor, open my own law firm, and even become a published author. So, this National Get-Up Day, take it from me: When life knocks you down, use that pain to fuel your comeback. Only you can determine what your life will become, and as long as you’re willing to dust yourself off and try again, you can achieve anything you set your mind to.
I’ll go ahead and spare you the excitement now; I didn’t get in. Knocked down yet again,
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ople to Thank
Estate and Crisis Planning: What You Need to Know
and Medicaid planning. Engaging an attorney ensures your planning is comprehensive, compliant, and tailored to your unique circumstances. Q: Are there time limitations for crisis planning? A: Yes, there are time limitations for crisis planning. Medicaid has a look-back period during which asset transfers are scrutinized. It is essential to act promptly and consult with an attorney as soon as the need for long-term care arises to maximize planning opportunities and avoid potential penalties. Q: Can crisis planning help protect a family home from being sold to pay for long-term care expenses? A: Yes, crisis planning can potentially help protect a family home from being sold to pay for long-term care expenses. Strategies include transferring ownership, creating certain types of trusts, or utilizing exemptions and allowances within Medicaid rules. An attorney can guide you through available options based on your specific circumstances and state laws. Q: Is crisis planning only relevant for Medicaid eligibility, or does it have broader benefits? A: While crisis planning often focuses on Medicaid eligibility, it can have broader benefits beyond just qualifying for government benefits. It can help protect assets, ensure proper care, and provide financial stability for the individual and their family during a challenging and uncertain time. Q: Can crisis planning be conducted retrospectively? A: While it is preferable to engage in crisis planning proactively, retrospective crisis planning is possible in some cases. However, timing and specific circumstances play a significant role in determining the available strategies and their effectiveness. Consulting with an attorney as early as possible increases the planning options and likelihood of success. Q: What should I bring to a consultation for crisis planning? A: When attending a consultation for crisis planning, it is helpful to bring relevant documents such as financial statements, deeds, insurance policies, and information about income and expenses. Additionally, any legal documents, such as existing estate planning documents or Powers of Attorney, should be provided to the attorney for review and analysis. Q: Can crisis planning help protect assets if the individual is not eligible for Medicaid? A: Yes, crisis planning can still help protect assets even if the individual is currently not eligible for Medicaid. Strategies may focus on other aspects of asset protection and long-term care planning, such as utilizing insurance options, restructuring assets, or exploring alternative sources of funding for care. An attorney can assess your eligibility and recommend appropriate planning strategies.
Q: What is crisis planning in the context of estate planning? A: Crisis planning is a form of estate planning that focuses on protecting assets and qualifying for government benefits, such as Medicaid, in situations where long-term care needs arise unexpectedly or urgently. It involves implementing strategies to help preserve assets and navigate eligibility requirements during a crisis. Q: When does crisis planning typically occur? A: Crisis planning often occurs when an individual or their loved one faces an imminent need for long-term care, such as entering a nursing home or requiring extensive medical assistance. It is important to seek guidance as soon as possible to explore available options and maximize asset protection. Q: Can crisis planning help protect assets if someone is already in a nursing home or receiving long-term care? A: Yes, crisis planning can still provide options to protect assets even if someone is already in a nursing home or receiving long-term care. While the planning possibilities may be more limited, there are still strategies available to help preserve assets and potentially qualify for Medicaid benefits. Q: What are common crisis planning strategies? A: Common crisis planning strategies include spending down excess assets on allowable expenses, converting countable assets into exempt assets, transferring assets within Medicaid guidelines, and utilizing legal techniques to protect assets while still meeting eligibility requirements. Each case is unique, and an attorney can provide personalized advice based on your specific situation. Q: Is crisis planning legal and ethical? A: Crisis planning is a legal and ethical practice when done within the confines of applicable laws and regulations. It involves utilizing legal strategies to protect assets and qualify for benefits while ensuring compliance with Medicaid rules and guidelines. Consulting with an experienced attorney can help ensure your crisis planning is conducted lawfully and ethically.
Q: Is crisis planning only relevant for seniors or elderly individuals?
Q: Can I engage in crisis planning without professional assistance?
A: Crisis planning is commonly associated with seniors and elderly individuals due to long-term care needs often arising in this age group. However, crisis planning can also be relevant for individuals of any age facing sudden medical or disability-related crises that require long-term care and asset protection. Consulting with an attorney ensures appropriate planning regardless of age.
A: While it is possible to attempt crisis planning without professional assistance, it is not advisable. The complex rules, regulations, and potential legal implications involved in crisis planning necessitate the expertise of an experienced attorney specializing in elder law
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Why Real Estate Investors Should Have an LLC If You Don’t Have One, Consider It
In 2021, the number of LLC owners grew to 10.2 million, a full 5.25% jump from 2018. Any individual can be an owner or member of a limited liability company (LLC), but obtaining an LLC is an especially great move for real estate investors. Some of the biggest companies have LLCs behind them — like Alphabet LLC, which is behind Google. Let’s explore the top three reasons why setting up an LLC for your real estate investing will benefit you. Protection Being an LLC owner can offer you unique protection. Those who form the company, whether it's one person or a partnership, will have built- in protection for their personal investments. For example, if one of the tenants in your property sues the LLC for failure to maintain upkeep of the yard, your personal property and accounts won’t be up for grabs during the lawsuit. It’s good to separate your personal life from your business; an LLC can protect you. Opportunity As you begin to invest, you’ll likely need a loan. Banks often offer better loan terms if you have an LLC. An LLC doesn’t need to be a whole boardroom full of investors; you just need one person. However,
a bank is less likely to give a single investor good terms on their loan. Owning an LLC will provide you with better interest offers and repayment terms. It’s still a business loan, so a minimum annual revenue, credit score, and time in business are often required. Lower Taxes We’ve left the best for last: tax savings. An LLC can offer protection from double taxation. The owner of the LLC can choose to get the profits and losses reported on their personal tax returns rather than through a business structure. You can also classify your LLC as an S or C-class corporation and gain that specific tax status. Each has pros and cons, and we encourage you to ask your accountant or tax preparer which would best suit your investments. Who wouldn’t be drawn to lower taxes, protection for your personal investments, and better loan terms? These can grow your ability to invest in property as you gain flexibility and lower liability within an LLC. Ask your accountant or tax preparer for the specifics of your financials. With our experience, we’re available to answer any questions. Excellence comes standard at Littlejohn Law, and we’re ready to help it become your standard.
TAKE A BREAK
Puff Pastry Berry Hearts
Inspired by Weelicious.com
INGREDIENTS •
1 package frozen puff pastry, defrosted 1 cup heavy cream
• •
1 tsp powdered sugar 1/2 cup fresh raspberries (or berries of your choice)
•
DIRECTIONS
1. Preheat oven to 400 F. Unfold the puff pastry and use a heart- shaped cookie cutter to cut into heart shapes. 2. On a baking sheet, place puff pastry hearts and bake for 10–12 minutes or until golden brown. 3. In a standing mixer, whip the cream on medium-high speed for 2–3 minutes. Add the powdered sugar and beat on high for 30 more seconds or until thick and fluffy. 4. Remove hearts from the oven and allow to cool completely. Slice each heart in half between pastry layers to create 2 hearts. Top the bottom half with whipped cream and berries, and place the other half on top to form a sandwich.
AQUARIUS CANDY CUPID GROUNDHOG
HEART LINCOLN CHOCOLATE PENNSYLVANIA
PHIL PRESIDENTS VALENTINE WINTER
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352 Frank Layman Blvd. • Wintersville, OH 43953 740-314-4829 • LittlejohnLawLLC.com
INSIDE
THIS ISSUE
1
The Power of a Comeback
2
Estate and Crisis Planning Need-to-Knows
3
The Importance of Setting Up an LLC
Puff Pastry Berry Hearts
Take a Break
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Family Game Night Magic
Family Game Night Magic Discover 4 Captivating Board Games
Azul — A Colorful Challenge for All Ages Dive into the artistic world with Azul. Players compete to embellish the walls of the Royal Palace of Evora with ornate tiles. The game combines aesthetics with strategy, as players select tiles to complete patterns on their boards. Azul is a feast for the eyes and a test of tactical thinking, appealing to the young and the young at heart. 7 Wonders Duel — A Dynamic Game for 2 7 Wonders Duel offers a compact but profoundly strategic experience, perfect for two players. You'll navigate your civilization through various stages of development, engaging in scientific, military, and cultural pursuits. It's an excellent way for siblings, friends, or a parent and child to engage in an intellectually stimulating and entertaining head-to-head challenge.
Welcome to the enchanting world of board games, where fun competition and family bonding intertwine to create unforgettable memories. Here are four new board games that offer unique experiences to spice up family game nights. Pandemic — Work Together to Stop the Spread Pandemic is an intense cooperative board game for 2–4 players in which players work together to stop the spread of four diseases. Players fight the viruses by drawing cards to stop the spread of the disease (with a cure, for example) or trigger a deadly outbreak with epidemic cards. Pandemic is challenging for young or inexperienced gamers but has introductory, standard, and heroic difficulty levels so all players can enjoy fighting back against fake COVID-19! Ticket to Ride — A Journey of Strategy and Collaboration Ticket to Ride transports players across continents via
an enthralling railway adventure. In this strategic board game, collect train cards to build routes connecting iconic cities worldwide. Every player's decisions can impact others, making it a great lesson in strategy and cooperation. As players traverse this make-believe world, they pick up geographic knowledge, making it educational and fun for the whole family.
These board games bring a new flavor to your family's gaming collection. From mythical adventures to artistic endeavors and strategic conquests, they promise entertainment and opportunities for learning, collaboration, and creating cherished family moments. Get ready to roll the dice and let the family fun begin!
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