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What Is an Ethical Will?

Posted by & filed under Estate Planning.

Estate planning can be looked at in a couple of different ways. You could do the bare minimum so that you have basic protections in place, or you could go the extra mile and engage in the process of legacy planning. When you proactively shape your legacy, you take control of the way that you… Read more »

What Is the Medicaid Look-Back?

Posted by & filed under Elder Law, Estate Planning, Medicaid.

Before we provide an explanation of the Medicaid look-back, we should explain why Medicaid should be on your radar if you are going to qualify for Medicare coverage at the age of 65. It is true that Medicaid and Medicare are both government run health insurance programs. If you qualify for Medicare when you attain… Read more »

What Is an Incentive Trust?

Posted by & filed under Estate Planning, Legacy Planning, Revocable Living Trusts, Trusts, Wills.

When you are planning your estate, passing along resources directly with no strings attached can be perfectly acceptable for some established people on your inheritance list. At the same time, there could be people in the family who could use some guidance. Under these circumstances, you could consider the creation of an incentive trust. With… Read more »

Will Assets in My Living Trust Be Counted By Medicaid?

Posted by & filed under Elder Care, Elder Law, Incapacity Planning, Medicaid, Revocable Living Trusts.

The Medicaid program will pay for long-term care. You may hear this statement and shrug your shoulders, because you will never qualify for Medicaid, and you will qualify for Medicare by the time you require living assistance. This reaction makes sense on the surface, but when you dig into the facts, you will see a… Read more »

Why Is Medicaid Planning Relevant If I’m Healthy?

Posted by & filed under Elder Law.

Medicaid is a need-based, government run health insurance program that pays for most of the nursing home care that is received by seniors in the United States. As a result, Medicaid planning is important to a significant percentage of seniors, but some people do not understand why. It can be difficult to seriously consider contingencies… Read more »

What Is Probate?

Posted by & filed under Probate.

People sometimes make assumptions with regard to estate planning that are incorrect. You may assume that assets are distributed immediately after your death when you use a last will to facilitate asset transfers. This is not the case. Before the heirs receive their inheritances, the estate must pass through the process of probate. Estate Administration… Read more »

Why Would Someone Avoid Probate?

Posted by & filed under Probate.

The process of estate planning is often whittled down to the creation of a last will. This is a shortsighted viewpoint, because there are other options, and a last will might not be the best choice. Many people do not understand the fact that a will must be admitted to probate, and there are some… Read more »

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