Question: My mother-in-law is on the deed to my wife’s and my home. If she moves into a nursing home, will Medicaid try to claim an interest in my home? How can I prevent them from doing this? Must I transfer the interest in the property prior to her moving? She no longer earns an […]
One of the most difficult steps in estate planning is not a logistical one, but an emotional one: the acceptance of mortality. Although we all know that death is inevitable, most of us have a tendency to avoid confronting its reality. This makes it difficult to plan for contingencies in a world that will no longer […]
Below are some of the main reasons why it is important to have an up-to-date estate plan: To designate who will make decisions on your behalf if you are unable to do so yourself To determine who will provide care for your minor children after you are gone To ease the probate or trust administration process for […]
Question: Would you please provide us with the tax implications of selling a home? Answer: In most cases, gains from sales are taxable. But did you know that if you sell your home, you may not have to pay taxes? Here are ten facts to keep in mind if you sell your home this year. […]
Guardianship vs. Conservatorship Guardianship is the formalized, probate court administered process of appointing a fiduciary to oversee the care and custody, and possibly the finances, of an individual who has been declared incapacitated by the court. Guardians remain subject to the jurisdiction of the probate court for the duration of the Guardianship and are required […]
Question: Should we consider purchasing long term care insurance? Answer: We tell our clients, if you are healthy enough and wealthy enough to get long-term care insurance, just do it. For those who can’t afford it, Medicaid planning (to qualify for long-term care benefits) is an option.
When two or more individuals own property — whether it’s a condo, a home, or a piece of land — the relationship between the owners is very important. The form of ownership of the property affects how property is transferred to someone else. It is important to make sure you have the right form of ownership […]
Question: What is a Special Needs Trust? Answer: There are situations where estate planning is less about asset protection, avoiding taxes, and probate fees, and more about protecting people we care about. In other situations, it is necessary to plan for someone with special needs and protect assets at the same time. When we talk […]
What is Probate Law? The loss of a loved one can be one of the most difficult situations you’ll ever face. Unfortunately, dealing with the distribution of your loved one’s assets-especially if he or she did not leave behind a will-can add stress to an already emotional time. Probate Law is the legal process by […]
What are the 2015 Medicaid Qualification Criteria for residents of the state of Florida? Answer: Here are the Monthly Income Limits, Total Assets Limits, and information about Transfers as they pertain to Florida’s Medicaid Qualification Criteria for 2015. Monthly Income Limits Medicaid Applicant’s (MA) income cannot exceed $2,199.00 gross income per month. If income exceeds […]
While Medicaid is a “spend money” program, you don’t have to be destitute, or leave your spouse destitute, to qualify for Medicaid. Certain assets and transfers are exempt from a Medicaid spend down, and by effective planning, you can qualify for Medicaid and still keep, transfer, or gift certain assets to your love ones.
A Supplemental Needs Trust, sometimes called a Special Needs Trust is created to ensure that beneficiaries who are disabled or mentally ill can enjoy the use of property, which is intended to be held for their benefit. In addition to personal planning reasons for such a trust, such as the person lacks the capacity to […]
Changes to Pennsylvania’s Power of Attorney Law This Elder Care / Senior Care article summarizes the recent changes made to Powers of Attorney in Pennsylvania, specifically focusing on Pennsylvania’s House Bill 1429, which was signed by Governor Corbett on July 2, 2014, and became Act 95 of 2014. This law contains provisions which include changes to the form and […]
Elder Law Attorneys Elder Law Attorneys are attorneys who work with the elderly. They bring more to their practice than just experience with the legal issues. They have an understanding of the elderly that allows them and their staff to ignore the myths related to aging. At the same time, they recognize and empathize with the […]
Will an Estate Still Go Through Probate Even With a Last Will and Testament? You need to discuss your individual circumstances with an Estate Planning Attorney. A Last Will and Testament does go through Probate. A Will is more of an expression of your desires regarding your Estate which desires will be carried out through […]
I would like to leave a legacy for my heirs; however, I won’t have a multi-million dollar estate. Could one of your Estate Planning Attorneys provide me with a suggestion? Answer: Most people do not believe that they can leave a legacy for their heirs because the word is usually tied to large, multi-million dollar […]
Legal problems that affect the elderly are growing in number. Our laws and regulations are becoming more complex. Actions taken by older people with regard to a single matter may have unintended legal effects. It is important for attorneys dealing with the elderly to have a broad understanding of the laws that may have an […]
What is Estate Planning Estate planning is a general term for written instructions that you establish during your lifetime, while you have capacity, that answer the following questions: Who will make health care and financial decisions for me if I become incapacitated? What will happen to my property, accounts and possessions I own when I […]
What is the Offer in Compromise program that is provided by the Internal Revenue Service (IRS)? The Internal Revenue Service’s Offer in Compromise program provides taxpayers with the opportunity to settle their debt with the IRS for just pennies on the dollar. The program allows taxpayers to settle with the IRS on tax debt that has […]
Can a durable power of attorney be revoked? One legal document that many people create as part of their estate planning is a durable power of attorney. This legal document allows a person to designate who will be in charge of making health care decisions for them if they for some reason become unable to […]
About Using Do-It-Yourself Legal Documents Downloaded From the Internet? Legal documents that ostensibly seem easy to prepare and execute are often subject to specific and subtle nuances that only an experienced practitioner will be familiar with. A good portion of our practice is comprised of meeting with new clients, collecting their pertinent information, and coming […]
4 Reasons a Will Can Be Contested There are four primary reasons that a will can be contested. Knowing the reasons that a will can be contested can be helpful for reducing the chances of a dispute among your heirs, whether you are putting together your own will and or want to know if yours […]
A guardianship is a legal arrangement under which one person, the guardian, has the legal right and duty to care for another person (the ward) and the ward’s property. Guardianship is often over a child or an individual who has become incapacitated through age or disability and lacks the ability to act on his or […]
If you anticipate needing Medicaid at any point in the foreseeable future, it’s prudent to seek the advice of a qualified elder law attorney. There are steps you can take to protect your assets which may not be available when you actually need Medicaid. Some of those steps may include transferring your assets or establishing […]