All Posts

Estate administration occurs when a person dies and assets need to be transferred to heirs if there is no Will or to beneficiaries under a Will if the deceased person has a Will.

A client should not let an attorney or any other party recommend a revocable trust without first asking questions and understanding the entire purpose of the document.

It is a good practice to have your Will drawn by an experienced attorney and not a good practice to download a Will from the internet or write your own Will.

The Financial Power of Attorney is the first line of defense for protecting assets that are in a client’s name prior to making an application for Medicaid benefits.

The main purpose of this trust is to protect assets that are placed into the trust in the event that the trust creator should require a nursing home facility in the future. This type of trust must be created five years prior to an application being made for Medicaid benefits in a long-term care facility. This is because when applying for Medicaid benefits for a skilled nursing home there is a lookback of five years from the date of application to make sure no gifting has occu

Special needs trusts were created which are designed to allow assets to be held in this type of trust and not be countable as an asset for the beneficiary of the trust who continues to receive their government benefits and support based upon need.

A living will, also called an advance directive for a natural death, is very different from the will you make out to dispose of your assets. What we normally think of as a will is technically called a testamentary will, and it is not considered finalized until after your death. A living will, on the other hand, sets the terms for your medical care while you are still alive.

Recent surveys have indicated that the median annual cost of a semiprivate nursing home room is more than $96,000, with a private room costing more than $108,000 a year.

The first thing you need to do, of course, is read the power of attorney. It will describe the full extent of your powers and responsibilities, and it will say whether it takes effect as soon as you sign it or as soon as certain conditions, such as the incapacity of the principal, have been met.