Spending Down Assets on Medicaid
The rules of "Spending Down" assets for Medicaid may seem tricky, but we're here to help you navigate. To qualify for Medicaid, you must make less than an income at or below 133% of the Federal Income Poverty Guidelines. Applicants for Medicaid can spend down their...
A Will: What “Will” I Need to make it Valid?
Thanks to movies, and TV shows people are to believe that our will is our final words, a note, or a video. What makes a will valid? What exactly is a will? For many states, there are requirements that must be met before it can be valid. What is it? A will is...
Estate Planning: Terms to Know
No one likes to think about one’s own death. However, planning ahead can help your family avoid unnecessary complications, delay, and expense. Understanding the following estate planning terms is the first step toward planning your estate. Presently, Estate planning...
I’m Power of Attorney. Now What?
A power of attorney is the grant of legal rights and powers by a person, the “principal,” to another, the “agent” or “attorney-in-fact.” The attorney-in-fact, in effect, stands in the shoes of the principal and acts for him or her on financial and business matters....
The Probate Process Explained
Probate is the process by which a deceased person’s property, known as the “estate,” is passed to his or her heirs and legatees (people named in the will). The entire process, supervised by the probate court, usually takes about a year to eighteen months. However,...
Estate Law: Understanding Legal Trusts
A legal trust is a separate legal entity for holding and investing property. These legal trusts (The “trustee”) hold property, usually real estate or investments, for the benefit of another or other people (the “beneficiary”). The person who gives the property for the...
Family Law: All About Guardianship
Guardianship is a legal relationship whereby the Probate Court gives one person (the guardian) the power to make personal and financial decisions for another (the ward). Some states have separated guardianship into two roles—a guardianship or power over the person,...
Understanding Supplemental Needs Trusts
Supplemental needs trusts (also known as “special needs” trusts) are designed not to provide basic support, but instead to pay for comforts and luxuries that could not be paid for by public assistance funds, such as education, recreation, counseling, and medical...
Fact or Fiction: Long Term Care Planning
Long term care planning is a complex subject and with so many resources at our fingertips, it can sometimes be tough to determine the myths and the realities about the topic. Read on to learn the truth about long term care planning. Fiction: I will never end up in a...