How Likely Is That To Happen? Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys “How likely is that to happen?” You have undoubtedly heard these words spoken many times. You have possibly said them yourself when a well-meaning friend or family member tries to warn you about a risk that you perceive as unworthy of consideration. You may have even used this same logic to explain why you have yet to create a comprehensive estate plan. After all, what are … [Read more...] about How Likely Is That To Happen?
Will Baby Boomers Have Anything Left to Pass Down?
Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys The Baby Boomer generation – the largest generation in American history to date – is heading into retirement, but are they prepared? More importantly for their children and grandchildren – and possibly the economy as a whole – will there be anything left to bequeath when they pass away? It appears some Baby Boomers have planned for their retirement, however, estate planning is not a priority for many. … [Read more...] about Will Baby Boomers Have Anything Left to Pass Down?
Medicaid Planning – Planning to Get Approved
Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys Are you prepared to cover the expenses of long-term health care (LTC) if you need nursing home, assisted living or regular at home care down the road? If you are like many seniors, you will turn to Medicaid for help with your LTC costs. While Medicaid will cover LTC expenses, getting approved can be challenging. The old adage is that “if you fail to plan, you may as well plan to fail.” Your failure to … [Read more...] about Medicaid Planning – Planning to Get Approved
Traditional or Roth – Which Type of IRA Is Right for You?
Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys Previously, retirement planning focused on an employer sponsored pension and Social Security retirement benefits. The concept of lifetime employment, however, is largely a thing of the past, which also makes pensions a thing of the past. Moreover, the fate of the Social Security retirement program is uncertain. Also, monthly Social Security benefits do not go as far as they once did. As a result, … [Read more...] about Traditional or Roth – Which Type of IRA Is Right for You?
Caring for an Alzheimer’s Patient— Can Medicaid Home Based Services Help?
Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys If your spouse is suffering from Alzheimer’s disease, you understand how devastating the disease can be – both to the patient and to the caregiver. Alzheimer’s doesn’t just rob the patient of memories, it also robs loved ones of their time and energy. In most cases, the symptoms of Alzheimer’s progress slowly, making it relatively easy to care for a loved one during the early stages of the disease. As … [Read more...] about Caring for an Alzheimer’s Patient— Can Medicaid Home Based Services Help?
Is Your Real Property Safe from the Medicaid “Spend-Down” Requirements?
Almost half of all seniors eventually turn to Medicaid for help covering the high cost of long-term care. If you are one who may need to qualify for Medicaid at some point, will you be able to keep your real estate? Understandably, it’s a question that worries every senior who may need to qualify for Medicaid benefits in the future. The answer may surprise you! While you may already know that your primary residence is likely exempt from the Medicaid “spend-down” requirements, you may not know … [Read more...] about Is Your Real Property Safe from the Medicaid “Spend-Down” Requirements?
How You Can Provide for Your Disabled Child and Still Qualify for Medicaid
Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys David and Amy have been happily married for over 50 years and are now well into their retirement years. They have two grown children. Their daughter Sarah is an engineer, while their son Allen has special needs and lives in a group home. Amy is very concerned lately because it looks as though both she and her husband will be living in a nursing home in the near future. She is unsure how that will affect … [Read more...] about How You Can Provide for Your Disabled Child and Still Qualify for Medicaid
A Nursing Home’s Take on the Need for Medicaid Planning
Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys There has long been a misconception that nursing homes and Medicaid planning are on opposing sides of the proverbial fence. That misconception is starting to change as many nursing homes begin to realize that Medicaid planning actually helps ensure that patients qualify for Medicaid. In turn this ensures that the patient’s financial obligation to the nursing home is covered. Without Medicaid planning, a … [Read more...] about A Nursing Home’s Take on the Need for Medicaid Planning
Medicaid Gifts to Children
Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys At some point during your retirement years there is a very good chance you (and/or your spouse) will need long-term care. There is also a good chance that you will need to qualify for Medicaid benefits in order to cover the high cost of that care. Qualifying for Medicaid can be a complicated process given the complex eligibility guidelines. The asset transfer rules, in particular, are a source of much … [Read more...] about Medicaid Gifts to Children
Redskins Owner’s Estate Goes Into Overtime – Lessons from Jack Kent Cooke’s Estate
Redskins Owner’s Estate Goes Into Overtime – Lessons from Jack Kent Cooke’s Estate Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Jack Kent Cooke is widely regarded as the greatest owner in the history of professional sports. He was also well known for his attention to detail and uncanny business acumen.. When it came time to create his own estate plan, however, he left much to be desired. Although you may never own a professional sports team or … [Read more...] about Redskins Owner’s Estate Goes Into Overtime – Lessons from Jack Kent Cooke’s Estate