You may believe that a last Will is your best option for transferring your assets on death because you are not wealthy. But in many cases you have more effective options for distributing your assets to your loved ones even if you do not consider yourself to be among the financial elite. A lot of people do not realized that a Will is not just read by your family members. The court has to make sure the wills is in fact the last one and is valid; and the court has to allow creditors an … [Read more...] about Last Will May Not Be Best Option
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Be Clear to Avoid a Contested Estate
If you want everything to go smoothly when you die, carefully consider your planning options. Some people make inheritance planning decisions that they know will not sit well with some of their family members or other interested parties. These people are often opening themselves up to the possibility of a contested estate. First off you may want to ask yourself if the potential for acrimonious legal battles is really worth the statement you are thinking about making. Depending on your … [Read more...] about Be Clear to Avoid a Contested Estate
What You Need to Know about Medicaid Recovery
Medicaid pays for long-term care. 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 Charlotte elder law attorney explain how Medicaid recovery works and how to be prepared. Medicaid and Long-Term Care Coverage The … [Read more...] about What You Need to Know about Medicaid Recovery
Why Huntersville Trust Attorney Recommends Living Trusts
If you’ve heard of the living trust, chances are that you think it’s one of those planning tools that complicated your life. In reality, proper use of these trusts can help to simplify your estate planning. Many people think that the will is the simplest type of estate planning available to them, and in many cases they’re right. The Last Will and Testament is the most basic type of estate plan that you can use – though most people, unfortunately, don’t even bother to create that basic document. … [Read more...] about Why Huntersville Trust Attorney Recommends Living Trusts
Medicaid Attorneys Explain Medicaid and Medicaid Waivers
The Medicaid waiver program can come into play if you need long-term care toward the latter portion of your life. Before we look at the details, we should provide a general overview so that you understand the lay of the land. The majority of senior citizens will eventually need long-term care so if you make no plans you could be unprepared for the cost when the time comes. These costs make it important to consider Medicaid planning so let our Medicaid attorneys explain what you need to … [Read more...] about Medicaid Attorneys Explain Medicaid and Medicaid Waivers
Understanding How Your Asset Protection Strategies Work
Have you thought about whether your assets are protected against bankruptcy, lawsuit, divorce, and other risks? If not, then you could be at risk of losing everything. You can spend a lifetime building wealth. The foundation of financial stability is usually built that way, one brick at a time over many years. The problem is that nothing built by human hands lasts without careful attention and maintenance over time. Your wealth is no different. No matter how much you earn, save, or invest, your … [Read more...] about Understanding How Your Asset Protection Strategies Work
Protecting Nursing Home Residents with Dementia
Dementia is widely recognized as one of the major causes of disability and dependency among seniors in our country. Dementia is a medical condition that results in a decline in memory, thinking, and behavior. It is very common for individuals with dementia to become unable to perform regular daily activities independently. A major problem with dementia is that it increases the risk of seniors wandering off, which puts them in danger. For families with loved ones in nursing homes, our elder law … [Read more...] about Protecting Nursing Home Residents with Dementia
College Savings in Kentucky
College savings are a challenge for most families. Fortunately, Kentucky has its own 529 Plan, which is a college savings (and investment) plan. While many states allow out of state residents to invest in their plan, we’ll review the Kentucky plan and its benefits. Note: You may have heard of the Kentucky prepaid plan known as “KAPT,” but that was closed to new enrollees in 2004. That’s why the KAPT is not being discussed in this article. The Kentucky 529 Plan is called the “Kentucky … [Read more...] about College Savings in Kentucky
Our Trust Attorney Knows What Type of Trust You Need
For many people, the choice between an irrevocable trust and a revocable trust comes down to a matter of asset control. There are some clear differences in benefits that should also be considered. 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 attorney can help you decide which option is best for your needs. How … [Read more...] about Our Trust Attorney Knows What Type of Trust You Need
Should I Consider Drafting a Living Will as Part of My Estate Plan?
If you’ve ever been to the hospital, ten you’ve probably been asked whether you have a living will. If you’re like most people, you probably don’t. For several important reasons, that could be a mistake and could cause your family unnecessary grief in the future. An Ashland estate planning attorney can help you decide whether a living will is a good option for you. You may have a last will or trust in place – and perhaps an equally-important financial power of attorney in case of incapacity. … [Read more...] about Should I Consider Drafting a Living Will as Part of My Estate Plan?
