You should have an elder law attorney when you have anyone who is counting on you. If you want to control your own medical care and maintain autonomy in case of incapacity, you should have an elder law attorney. You should also have an elder law attorney if you are interested in planning ahead for your legacy or if you want to take steps to protect your wealth during your lifetime or after you have passed on. … [Read more...]
What questions should you ask an elder law attorney?
If you are considering hiring an elder law lawyer, there are a few key questions you should ask an elder law attorney to make sure your lawyer will provide you with high-quality legal assistance. You want to make certain that your lawyer has experience with Medicaid planning, with incapacity planning, with estate planning, and with other similar processes. You also want to make certain that your attorney’s focus is on elder law and that your attorney has plenty of past experience so he or she … [Read more...]
Does the nursing home get half of my assets?
One of the biggest concerns for people as they get older is whether they will lose their assets if they need to go to a nursing home. This is a big concern because medicare and private insurers won’t pay for a nursing home if you just need basic care, they will only pay for skilled nursing care and only under specific circumstances. You could be forced to spend your own money on paying for a nursing home until you have impoverished yourself enough to qualify for Medicaid coverage, since … [Read more...]
Should only the elderly create wills and trusts?
It is a common misconception that only older people need to make a last will and testament. You should not wait until you are a senior to begin using important estate planning tools like wills and trusts. You don’t know when or if something could happen to you and you could pass away without an estate plan or be left incapacitated without a plan in place to protect your family and assets. You need to work with an attorney even when you are younger to put a plan in place for a secure future for … [Read more...]
What are some common elder law myths?
There are many elder law myths that people believe which can end up costing them a lot of money. One common myth is that you can just give away money and property in order to be able to qualify for Medicaid. Unfortunately, if you fall for this myth, you could cause yourself to become temporarily disqualified from getting Medicaid benefits by transferring assets for less than fair market value or by making a gift of assets. Medicaid looks back five years from the time you want to be covered to … [Read more...]
