Choosing the right level of care for your loved one can be daunting. Older adults and adults with Alzheimer’s typically want to remain in their own homes for as long as possible, sometimes at risk of their needs not being fully met or of having insufficient resources available to meet them. Considering all options is […]
Asset Preservation Planning and Financial Powers of Attorney: Why yours may not stack up at a critical time
What financial powers of attorney include and don’t include can end up making a tremendous difference at a critical time. For people concerned with asset preservation planning, this is incredibly important. Think of the financial power of attorney as a tool kit, one that you’re building for the person that you’re naming as agent to do things […]
Married Couples and Medicaid: Your Residence
The opportunity to protect your residence when one person of a married couple goes into a nursing home is different, consistent with Medicaid eligibility, than if you are a single couple. For married couples, while the spouse who is going to apply for Medicaid can only keep $2,000 worth of assets, the spouse who is not in […]
Why You Really Can’t Do Without Powers Of Attorney
The single-most important estate planning documents to have in place are powers of attorney. There are only two people in the world who can put someone in charge of making and carrying out decisions for you if you become incapacitated. One is you, by having powers of attorney in place, and the other is a […]
Do Transfers of Assets From One Spouse to the Other Affect Medicaid Eligibility?
One of the most central questions we get from married couples during Medicaid planning is also one of the most misunderstood questions: What is the effect of transfers of assets prior to application from one spouse to another? The common misconception is that married couples believe they can’t transfer assets between each other because of the […]
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