Most people will need living assistance eventually, and Medicare does not pay for custodial care, which is the type of care you would receive in a nursing home or assisted living facility. Although Medicaid can provide coverage for long-term care, what happens when you pass away and Medicaid comes after your assets? Let our Florence Medicaid lawyer explain how to protect assets from nursing home and Medicaid recovery. Medicaid and Long-Term Care Coverage The Medicaid program provides … [Read more...] about How to Protect Assets From Nursing Home and Medicaid Recovery
Blog – Latest Articles and Updates
Will or Living Trust? Charlotte Living Trust Attorney Compares the Two
When most people think of estate planning, their first thought is the last will and testament. However, the last will and testament is not the only option for estate planning, and it may not be the best option either. When you use a will, your heirs receive lump-sum inheritances once the will is probated. But not all of your heirs will necessarily be good at managing money or a large amount of assets. This is particularly true if they are minors at the time of your death. Let our Charlotte … [Read more...] about Will or Living Trust? Charlotte Living Trust Attorney Compares the Two
What is the Definition of Elder Law?
Not many clients have heard of elder law. Typically, the younger you are the less likely you are to know the types of legal matters an elder law attorney handles. By the time you’re a senior citizen, the laws that directly impact you are likely to encompass topics that seem of little importance to the young. To understand why this will matter once you’re a senior, it is vital to understand just how elder law can impact your life. Let our Huntersville elder law attorney explain how elder law … [Read more...] about What is the Definition of Elder Law?
Why You Should Consider Estate Planning for Pets
If you have a beloved pet that has been a part of your family for years, you may be concerned about how your pet will be taken care of after you pass away. Some clients assume they can simply include a provision in their last will and testament that leaves money to their pet. The problem is that pets cannot own or inherit property. However, our attorneys can help you with estate planning for pets. This way, you can include the necessary provisions for your pet in your estate plan and feel secure … [Read more...] about Why You Should Consider Estate Planning for Pets
Who is Eligible for Medicaid?
As you can see from our website, the attorneys at the Potter Law Firm are highly committed to educating their clients and the residents of Kentucky and North Carolina. We offer a comprehensive electronic library of special reports covering numerous estate planning and elder law issues. We also update our blog periodically in order to provide updates on the ever-changing laws in this field. Finally, our free estate planning and elder law seminars are always a go-to source for information. We … [Read more...] about Who is Eligible for Medicaid?
How Does a 529 College Plan Affect Charlotte Medicaid Planning?
A 529 College Savings Plan is a common college savings plan used by many families to save for future college expenses. These college savings plans were first included in the Internal Revenue Code in 1996 and have many important benefits. One concern that some people have is how these plans might affect their chances of qualifying for Medicaid benefits in the future. Specifically, the concern is that a 529 College Savings Plan may be counted as an asset by Medicaid. Our attorney can help you to … [Read more...] about How Does a 529 College Plan Affect Charlotte Medicaid Planning?
Huntersville Revocable Trusts and Asset Protection
Asset protection is important to some individuals for one reason or another. There are certain lines of work that leave people open to legal actions, and shielding resources from the disgruntled former spouse of a family member can be another concern. Some people hear about Huntersville revocable trusts and make some sweeping assumptions. While these trusts are valuable on a number of levels it is important to understand that if you can revoke a trust, it does not provide asset protection during … [Read more...] about Huntersville Revocable Trusts and Asset Protection
Medicaid Crisis Planning
When it comes to paying the costs of long-term nursing home care, families can easily exhaust all of their savings trying to cover the bill. For nursing home residents, the costs of long-term care can diminish your estate to the point that you have nothing left to pass on to your family. The good news is, there are steps you can take to save as much of your assets as possible while still receiving the care you need. Our attorneys can help guide you through the process of Medicaid crisis … [Read more...] about Medicaid Crisis Planning
A Guide to Avoiding Probate
For many clients, the basic purpose of estate planning is avoiding probate. The main reason for avoiding probate is to avoid the time and expense of the court-supervised process. Each estate must go through probate, regardless of the size or nature of the assets, unless steps are taken to avoid probate. If avoiding probate is one of your goals, there are many different factors to first consider as you create your estate plan. Let the attorneys at the Potter Law Firm help with the process by … [Read more...] about A Guide to Avoiding Probate
What Protections are Available for the Healthy Spouses of Medicaid Recipients?
If you are a community spouse for purposes of Medicaid, then you may be entitled to certain protections when your spouse becomes a nursing home resident so discuss your options with our Florence Medicaid lawyer. A community spouse is the healthy spouse of a Medicaid recipient who still lives at home while the recipient is in a nursing home. In light of the income and asset limitations imposed by Medicaid, there are some protections in place for the community spouse who remains in the home, … [Read more...] about What Protections are Available for the Healthy Spouses of Medicaid Recipients?
