Preserve Your Legacy

Estate Planning | Elder Law | Special Needs Planning

Blog Posts in May, 2014

  • WHAT IS THE DIFFERENCE BETWEEN A GUARDIANSHIP AND A POWER OF ATTORNEY?

    A comprehensive estate plan will include an incapacity planning component. A significant percentage of senior citizens become incapacitated to one extent or another. While there are other causes of incapacity, around 45 percent of those who have reached the age of 85 are suffering from Alzheimer’s disease. If you were to contract Alzheimer’s, dementia can set in. Those who are suffering from ...
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  • DO I CONTROL ASSETS PLACED INTO A REVOCABLE LIVING TRUST?

    It is important to understand all of your options when you are planning your estate. You may automatically assume that you should use a last will. While you can certainly go this route, you may also want to consider the creation of a revocable living trust. There are those who assume that trusts are only useful for the wealthy. This is not the case. Revocable living trusts can be beneficial for ...
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  • WHAT IS THE FIVE-YEAR MEDICAID LOOK-BACK?

    As you get older, you may begin to think long and hard about the eventualities of aging. When you look at the statistics, you will find that most American senior citizens will need help with their day-to-day needs eventually. Long-term care is very expensive, and Medicare does not pay for custodial care. Medicaid is a government program that will assist with these expenses. Need-Based Health ...
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  • WHAT ARE THE DISADVANTAGES OF A MEDICAID TRUST?

    Before we get into the disadvantages of a Medicaid trust, we should provide the necessary background information. First of all, you may wonder why Medicaid should matter to you if you are going to qualify for Medicare as a senior citizen. Long-Term Care Costs Medicare provides government administered health insurance for those who qualify, but there are gaps. You must pay deductibles, co-payments, ...
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