As we discussed last week, Revocable Living Trusts can be an important component of an estate plan. They can express your wishes for how to handle your assets both during your lifetime and after you have passed, they can be changed as the circumstances of the Grantor’s life change, and they provide flexibility in inheritance […]
One of the most frequently asked questions we hear when it comes to estate planning is “Do I need a Revocable Living Trust?” Trusts are no longer a planning tool reserved solely for the rich and powerful to pass on their wealth—now they can be useful for the middle class and sometimes even for Medicaid […]
Most people consider their pets a part of their family. Pets offer companionship, stress relief, love and affection. In exchange, we take care of their needs: feeding, grooming, providing medical care and medications, etc. Providing care for animals can be expensive; it seems that most veterinarians now provide services more akin to pediatric care. Pet […]
We often see clients in our office who have made poor financial decisions because of inaccurate information. The following debunks some of the biggest myths surrounding Long Term Care Medicaid. One of the biggest myths is that you must be poor to qualify for Medicaid. Most people do not realize that Medicaid consists of several […]
What is an “Aging Life Care Professional”? Aging Life Care Professionals, formerly referred to a Geriatric Care Manager, act as guides and advocates for the aged or disabled. They are well versed in the following areas: Health and Disability, Financial, Housing, Families, Local Resources, Advocacy, Legal, and Crisis Intervention. They can assist adult children as […]
Q. I am on Medicaid, is the Stimulus Check considered income? Should I give it to the facility? A. No, it is not income and should not be paid to the facility as part of your Patient Monthly Liability. Q. Since it is not considered income for Medicaid purposes, is it a resource because it […]
You have taken the time to meet with an Elder Law Attorney, discussed your wishes, and created a Trust. In your Trust, you have carefully outlined how you want your assets to be distributed upon your death. That is only the beginning! Many people fail to fund their trusts. Without proper funding, a trust is […]
DIY is everywhere! It is practically a buzzword that has infiltrated our everyday vocabulary. Doing it yourself can be fun and fulfilling, however, not all things should be done on your own. Some things are too important to leave to an unskilled person. Estate Planning is one of those things that should not be attempted […]
If you use email or telephones you most likely have been the target of scammers. Those who are in their late 70’s or older and/or own real estate are targeted the most. Scammers are becoming more sophisticated and believable, so it is important that we protect our Senior loved ones, as well as ourselves. If […]
Many Veterans, surviving spouses, and dependents have received a letter from the Department of the VA stating, “We propose to reduce or terminate your VA Pension benefit payments effective January 1, 2020.” The 1.6% cost of living increase Social Security recipients receive could reduce your VA benefits. For your VA benefit to be unaffected, your […]
If you own a corporation or LLC, Google “Corporate Transparency Act” and file your report before the end of the year. Don’t be fined $500.00 per day for failing to file.