If you have a special needs child, or other loved one, that you wish to protect and provide for in the future you may need to create a special needs trust. Likewise, if your special needs child has suddenly inherited assets or been awarded a personal injury settlement you should also guard those funds through the creation of a special needs trust. Though all special needs trusts operate in essentially the same way, there is more than one type of special needs trust. Understanding the types of … [Read more...] about Types of Special Needs Trusts
How Soon Can You Get Medicaid?
Statistics tell us that two out of every five senior citizens over the age of 65 will need long-term care at some point in their life. Once you reach the age of 80 your odds of needing long-term care increase to three out of four. With the cost of long-term care averaging $75,000 a year it is no surprise that more and more older Americans are turning to the Medicaid program to cover the costs associated with long-term care. If you (or a loved one) suddenly needs the benefits offered by the … [Read more...] about How Soon Can You Get Medicaid?
Creating a Joint Tenancy with a Child
If you are an older single American and you own your home you may be concerned about your home’s future if something were to happen to you. One option that people often consider is creating a joint tenancy with an adult child. When done properly, creating a joint tenancy with a child does offer a simple method for transferring ownership of the property in the event of your death. It also allows your child to control the property in the event of your incapacity. Missouri law allows for the … [Read more...] about Creating a Joint Tenancy with a Child
Guardianship St Louis Missouri: Nominating a Guardian for Your Minor Children
In Missouri, when most people think of the purpose of a Last Will and Testament they focus on the division of estate assets upon the death of the testator, or person executing the Will. While your Will certainly does allow you to decide how your estate assets will be handled when you die it does something even more important for parents of minor children – allow you to nominate a guardian. Nominating a guardian for your minor children can only be done in your Will, making the creation of an … [Read more...] about Guardianship St Louis Missouri: Nominating a Guardian for Your Minor Children
What Is Medicaid in St Louis Missouri?
People have a number of misconceptions about the Medicaid program. Because you, or someone you love, may someday need benefits provided by the program it pays to clear up those misconceptions now. Medicaid is a healthcare program that is predominantly funded by the federal government but is administered by the individual states. Medicaid should not be confused with Medicare. Medicare is also a federally funded healthcare program but Medicare is administered by the federal government, not by the … [Read more...] about What Is Medicaid in St Louis Missouri?
Probate in St Louis Missouri: Is It Always Required?
When someone dies the assets owned by the deceased must be accounted for and transferred to the intended beneficiary or heir of the estate. Probate is the legal process by which these goals are accomplished. Formal probate can be a time consuming and costly process. The good news is that formal probate is not always required in Missouri. Upon the death of an individual the law requires that the deceased’s property be accounted for before it can be passed down to heirs or beneficiaries. To … [Read more...] about Probate in St Louis Missouri: Is It Always Required?
Powers of Attorney in St. Louis MO: General vs. Limited POA – Which One Do I Need?
At some point in your life you may be asked to sign a power of attorney, or POA. You may also decide that you need to create one for one reason or another. A POA can be a very useful estate planning tool when used properly; however, many unsuspecting victims are also swindled out of huge amounts of money and/or assets by executing a POA in favor of the wrong person or by signing one that gives someone too much authority. For this reason, it is important to understand a general vs. limited power … [Read more...] about Powers of Attorney in St. Louis MO: General vs. Limited POA – Which One Do I Need?
What Questions Should I Ask an Elder Law Attorney?
There is an excellent chance that you will need to consult with an elder law attorney at some point in your life. Whether you need the service of an elder law attorney for yourself or for an older loved one, you may be unsure what to look for in an elder law attorney, if you have never needed one before. The area of “elder law” itself is a relatively new area of the law, meaning that there are likely fewer attorneys in your area who focus on elder law than on other areas of the law. This makes … [Read more...] about What Questions Should I Ask an Elder Law Attorney?
How to Preserve Your Legacy for Future Generations
Creating a comprehensive estate plan is something that everyone should do. Why stop there though? While you are developing your estate plan, why not incorporate strategies and tools into the plan that will also serve to preserve your legacy? While your tangible assets may reflect the amount of success you had while alive, your legacy reflects who you really were while alive. Your legacy includes your beliefs, your values, and even your hopes and dreams. With thoughtful planning you can include … [Read more...] about How to Preserve Your Legacy for Future Generations
What Is A Certified Elder Law Attorney?
With the number of older Americans increasing at a rapid pace issues that the elderly face have become a focal point for professions such as medicine and the law. While the elderly have always dealt with legal problems, the sheer number of elderly Americans has created a distinct area of the law in recent decades known as elder law. In addition, some attorneys have chosen to focus on elder law issues by becoming certified as an elder law attorney. It wasn’t until the 1980s that the law began … [Read more...] about What Is A Certified Elder Law Attorney?
