The secret to making revocable trusts work best is to fund them. That step is necessary to avoid probate and to make it easier for your trusted fiduciary to step in easily if you ever become [...]
Over my decades of practice, I have become a strong proponent of revocable trusts as a means to avoid probate and, more importantly, to provide for asset management in the event of incapacity. [...]
VA Nursing Homes The Veterans Administration (VA) may help cover long-term care costs either by providing care in its own facilities or, more often, paying an enhanced pension. In my area, the VA [...]
You may end up paying out-of-pocket for some or all of your long-term care costs or for those of a family member, since Medicare only pays for limited home of nursing home care [...]
One of the biggest unknowns in estate planning and planning one’s life in general is whether you will need long-term care and, if so, how much and for how long. While anyone may die in his sleep [...]
As part of the bankruptcy law overhaul in 2005, Congress exempted retirement plans and pensions from claims by creditors, meaning that even if you have to declare bankruptcy, you will not have to [...]
Photo by Scott Webb on Unsplash Homestead Protections Most states provide a homestead exemption that protects some or all of the equity in a home from claim in the event of bankruptcy. (Causing [...]
Photo by Henry Hustava on Unsplash Any discussion of asset protection must start with two questions: What are the risks you’re concerned about? What assets do you want to protect? Financial Risk [...]
Do you have a durable power of attorney for health care, a living will, a health care proxy, a medical directive, a HIPAA release, a DNR or a MOLST? You may have more than one and they may [...]
Here are some of the decisions you will need to make when you prepare your durable power of attorney, whether on your own or with an attorney: Who to appoint Of course, you need to appoint [...]