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Washington & Lee Law School
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  ALI-ABA Estate Planning Course Materials Journal
  Volume 12, Number 5, October 2006
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  • Long Term Care Insurance: Planning And Paying For "Long Term Care"
        Keith Bradoc Gallant
        p.5                                                                                          +cite        
        Long term care is widely understood to refer to the sustained provision of medical and custodial services to individuals who (through age, disability, or illness) are unable to provide for at least some of their own daily needs. Although rehabilitation services may be a part of the care provided, in general, the recipients of long term care services are not expected to "recover" from their condition and in most instances, undergo a lengthy period of decline ending in death. This care implicates a number of planning concerns that all lawyers with aging clients should understand.
  • Getting The Family Business Ready To Sell (With Sample Confidentiality And Letter Of Intent Forms)
        Myron E. Sildon
        p.21                                                                                        +cite        
        Good estate planning before a sale will reduce the gift and estate taxes and permit the owner to consider the owner's future needs and those of other family members. Good planning in advance of the sale of a business can substantially improve the value of the business and result in a larger purchase price. For example, a completed succession planning questionnaire (such as that found in Exhibit A of this outline) will help the owner identify and begin to recognize many issues that need to be addressed to maximize the estate planning objectives and increase the value of the business.