“But I don’t have an estate.” This is a common response I receive when I tell people I am an estate planning attorney. People often give me this response because: (1) they do not want to talk about death and dying, or (2) they do not think they have enough money to consider “estate planning.”
Planning for Your (And Others!) Care Read More »
I deal with a lot of property issues in my practice. They come up in all sorts of matters from family law, to guardianships, to trust and business matters. Issues of ownership are fundamental in our lives. Just think about it: whether you lease your home, own it outright, or own it subject to a
Property Ownership: It Affects Us Every Day! Read More »
Sometimes I think “probate” is a four letter word. Many people are more concerned about avoiding probate than avoiding the IRS. Yet, many people do not understand what probate is. Probate is the court-supervised process of transferring assets from one generation to the next. Under strict laws and deadlines, a judge requires the executor to
“Probate” is not a Four Letter Word Read More »
When a probate case is filed with the court, the court appoints an executor to manage the probate. When someone is appointed as an Executor – also known as a Personal Representative or Administrator– there are certain legal obligations and duties he or she must carry out. In Douglas County, an Executor must actually sign
An Executor has a Solemn Duty Read More »
As you age, you will be faced with many difficult decisions, not the least of which is how to pay for mounting medical costs. Medicare and Medicaid are two government programs that purport to help you pay for care. But often, these programs are insufficient, encourage you to impoverish yourself, and offer poor quality of
Deciphering Medicare and Medicaid Read More »
As we or our parents’ age, we will be forced to confront how to receive quality long term care. At a certain point, aging adults will need assistance to meet their daily needs. Many times, this is done in an assisted living or skilled nursing facility. The concern becomes affording such care. Medical insurance rarely
Proper Planning can Protect a Spouse Read More »
When applying for Medicaid, the government will presume that any transfers you made for less than fair market value in the last five years was done with the specific intent to qualify for Medicaid. Even if that was not your intention, Medicaid will treat the transfer as a gift. Under Medicaid rules, amounts gifted are
Start Tracking Now to Avoid Penalty Later Read More »
When applying for Medicaid, the government will presume that any transfers you made for less than fair market value in the last five years was done with the specific intent to qualify for Medicaid. Even if that was not your intention, Medicaid will treat the transfer as a gift. Under Medicaid rules, amounts gifted are
Annuities May Create Too Much Income Read More »
So, you have a traditional trust — one that is revocable, and changeable, and will avoid the need for a guardian or probate in the event of incapacity or death. But, did you know that this type of trust offers no additional protection against your creditors, not during your life nor after it? For many
Asset protection for long term care Read More »
