Do you have a plan in place to deal with the high costs of any future nursing home care? If not, then you need to discover how a Medicaid lawyer can help you protect yourself and your interests. We often hear about how important it is to prepare for the future. Whether it is business planning, legacy planning, or retirement plans, experts continually remind us that it’s vital to be prepared for uncertainty. With more than half of us expected to one day require long-term care in a nursing home or … [Read more...]
How Does a Veteran Qualify for Aid & Attendance?
If you are a wartime veteran who has 90 days of active duty, one day of that time beginning or ending during a period of war, you may be eligible for Veterans Aid & Attendance benefits. A surviving spouse who was married at the time of the veteran’s death may also be eligible for these benefits. There are both medical and financial qualifications that determine eligibility. Our veterans aid & attendance attorneys can explain what you need to know in order to avoid making mistakes with … [Read more...]
Why is it Important to Have an Estate Plan?
We all know that passing away is one of the two certainties of life, but in spite of this, the majority of American adults are not properly prepared from an estate planning perspective. A lot of people fail to act because they really don't know why estate planning is important. There are several things you should know about estate planning, and when you digest this information, you will understand why having an estate plan is essential. Our Ashland estate planning attorneys can provide the … [Read more...]
Revocable Trust vs Will: Which is Better?
Although most people equate estate planning with simply creating a last will and testament, a will is not always the best choice. If you use a will to state your final wishes, your heirs will receive lump-sum inheritances. However, everyone is not good at managing money, and this can be disconcerting. Let our attorneys explain how using a revocable trust can be a better choice than a simple will. Revocable trust vs will Many clients ask which is better? When considering the question revocable … [Read more...]
Charlotte elder law attorneys Discuss an Important Medicaid Rule
Long-term care costs are exorbitant, and they are going up all the time. At present, the national average cost for a year in a nursing home is more than $90,000, so the thought of ever-increasing costs is not a very pleasant one as you are looking ahead toward the future. For this, and many other reasons, Medicaid planning is very important. When it comes to Medicaid eligibility, there are limitations on financial resources, as well as how and when you can transfer assets out of your estate. … [Read more...]
Understanding the Basics of the Probate Process
Our Ashland probate lawyers understand that the probate process can be very confusing, especially if you have no court experience. But, before you begin to create your estate plan, it would be very helpful to have at least a basic knowledge of how the probate process works. That way you will better understand the effect your various estate planning tools will have on how your estate is distributed after your death. You still have certain legal protections Legal protections do not simply … [Read more...]
Will Medicaid Protect My Spouse?
Under the rules of the Medicaid program, most of the income that is due to the institutionalized spouse must be used to help defray their long-term care costs. However, there are ways to protect assets for the healthy spouse, so discuss your options with our Charlotte Medicaid lawyers. If your spouse is applying for Medicaid to pay for long-term care and you are still living at home, you are referred to as the community spouse. There are specific provisions in place to provide minimal … [Read more...]
Using Living Trusts for Avoiding Probate
The probate process is time-consuming, it can be costly, and it is public. Anyone, who is interested, can find out how you planned your estate. If avoiding probate is a goal, you could utilize a revocable living trust. When this type of trust has been established, the trustee can distribute assets to the beneficiaries without having to go through a probate. You could also plan for possible incapacity when you have a revocable living trust. A disability trustee could be empowered to administer … [Read more...]
Understanding Changes in Medicaid Eligibility
One estate planning issue, that is often overlooked, is the effect that inheritances can have on their loved ones. There are so many different ways to pass on your property and assets after your death and these different methods have both pros and cons. The reality is that your family members and close friends may all be experiencing different life situations, which you cannot predict. One of those situations is needing government benefits, such as Medicaid. Our Medicaid lawyers can explain the … [Read more...]
Huntersville Veterans Aid and Attendance Attorneys Can Protect Your Benefits
If you are a wartime veteran who has 90 days of active duty, one day of that time beginning or ending during a period of war, you may be eligible for Veterans Aid and Attendance benefits. A surviving spouse who was married at the time of the veteran’s death may also be eligible for these benefits. There are both medical and financial qualifications that determine eligibility. Our Huntersville veterans aid and attendance attorneys can explain what you need to know in order to avoid making … [Read more...]
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