Estate Planning Isn’t Just For The Elderly
My clients are always asking me which is better - an Irrevocable Trust or a Revocable Living Trust. Much to their dismay, the answer is that one is not better than the other. Irrevocable and Revocable Trusts are excellent estate and elder law planning tools that,...
It is important to know the distinctions between Medicare and Medicaid. With more than 70 million "baby boomers" coming of age, a growing number are now asking the question. Here's a brief explanation: Medicare Medicare is a program administered by the federal...
When meeting with a client and his or her family, one of the first inquiries I make is to determine whether or not he or she has previously executed a durable general power of attorney (POA) and, if so, what provisions it contains. Since a POA is, like many legal...
Applying for Medicaid nursing home or home care is an extremely complex process - one with potential complications not often evident at first glance. The rules and regulations relevant to Medicaid eligibility also change frequently and vary by state. Securing the...
One question I am often asked is the difference between a Last Will & Testament and a Revocable Living Trust. While many simply default to a Last Will as their primary estate planning document, the Revocable Living Trust has been gaining significantly in...
One question I am often asked is the difference between a Last Will & Testament and a Revocable Living Trust. While many simply default to a Last Will as their primary estate planning document, the Revocable Living Trust has been gaining significantly in...
Special Needs Trusts, also known as Supplemental Needs Trusts (SNT), play an important role in the planning for a disabled individual. Continuing from my last post, here are a few additional SNT options: Pooled Self-Settled SNTA pooled self-settled SNT is managed by a...
Millions of baby boomers are coming of age. It has been well documented, particularly in recent years, that these individuals will soon have a significant impact upon our medical and long-term care infrastructure. Often overlooked, however, is the fact that baby...
The decision to transfer one's residence is often an integral part in asset protection and wealth preservation planning. This is especially true if there is concern that long term care costs (nursing home and/or home care) may dissipate his or her life savings in the...
Elder law attorneys have made significant strides in the past two decades educating the public as well as the legal profession on the importance of seniors engaging in advance planning to protect their life savings from the costs of long term care. While it appears...