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...] about Will Medicaid Protect My Spouse?
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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...] about Using Living Trusts for Avoiding Probate
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...] about Understanding Changes in Medicaid Eligibility
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...] about Huntersville Veterans Aid and Attendance Attorneys Can Protect Your Benefits
Senior Pet Owners Should Consider Creating a Pet Trust
As our Florence elder law attorneys have seen, many pet owners believe they can simply leave money behind for their pets in their wills. While they may have good intentions, you simply cannot include your pet in your will and expect that they will be cared for. The reason is that a pet is considered property, just like a car or jewelry, and so, a pet cannot "inherit" money from you through your will. Ultimately, no matter how detailed your will may be with regard to your pet, you are not … [Read more...] about Senior Pet Owners Should Consider Creating a Pet Trust
When Should I Start My Estate Planning?
A legal matter can sometimes seem like an exercise in paper shuffling, and this mentality is often applied to the subject of inheritance planning. However, the estate planning process can be complex so let our Ashland estate planning lawyers help you get started now. Estate planning is unique so it takes time Each family is different, so there is no one-size-fits-all estate plan that will be perfect for everyone. There are those who assume that you can simply draw up a quick last will, toward … [Read more...] about When Should I Start My Estate Planning?
Florence Elder Law Attorneys Can Help with the Difficult Issues
There may come a time when your elderly loved ones start showing signs of having diminished capacity. When that happens, you will need to establish a way to help them manage their affairs. Some of the most obvious signs of diminishing capacity include loss of memory and disorientation. If you have noticed these signs it may be time to take action and the first step is to create an incapacity plan. Unfortunately, this type of planning can be difficult for you and your family. Let our Florence … [Read more...] about Florence Elder Law Attorneys Can Help with the Difficult Issues
Include Asset Protection in Your Medicaid Plan
When you have been fully capable throughout your life, the concept of long-term care can seem alien to you. This may be especially true if you have taken good care of your health. You may assume that it is unlikely that you will ever need long-term care, but you cannot overlook the costs of long-term care, should you ever need it. With careful planning, you can position your assets to allow you to qualify for Medicaid, while protecting some of the financial legacy you spent your lifetime … [Read more...] about Include Asset Protection in Your Medicaid Plan
Nursing Home Lawyers Explain Your Options for Long-Term Care
The idea of needing assistance with your day-to-day needs may be far from your mind or the minds of your loved ones. This is particularly true when you have spent your life being fully capable of taking care of yourself. No doubt, considering the potential need for long-term care is not a pleasant task, but you should be familiar with your options. Let our nursing home lawyers explain what you need to know. Everyone doesn’t need long-term care, do they? The reality is, many seniors will have a … [Read more...] about Nursing Home Lawyers Explain Your Options for Long-Term Care
Ask Your Trust Attorneys Which Type of Trust Will Meet Your Goals
For most clients, deciding between creating irrevocable trusts and revocable trusts depends on the need for retaining control of assets. There are, in fact, some very distinct differences that should be considered as you make the decision. Trusts have been around for a very long time, but they’ve only really begun to gain mainstream acceptance in the last several decades. When it comes to choosing between an irrevocable and a revocable trust, our Charlotte trust attorneys can help you decide … [Read more...] about Ask Your Trust Attorneys Which Type of Trust Will Meet Your Goals
