Asset Protection
Private jets, priceless antiques… asset protection? Some things are just for the rich and famous, but protecting hard-earned assets isn’t one of them. Homes and bank accounts are assets worth protecting from future long-term care costs.
Have you heard of petitioning the Georgia probate courts for “Year’s Support”? Not many people are aware of this procedure to administer an estate or probate a Will. A year’s support award is a permanent award of property from a decedent’s estate to the decedent’s surviving spouse, surviving minor children, or both. It comes from a…
Our office has received questions from our clients about a form that Medicaid recipients have received from the Division of Family & Children Services (DFCS). The form is called the “Official Notice of Georgia Medicaid Estate Recovery Program,” also referred to as “Form DMA 315.” In last week’s Hurley Elder Care Law blog, we touched…
Families who haven’t engaged in asset protection are often surprised when they discover there’s a claim against the family house filed by Georgia’s Medicaid program. The rules about homeownership and Medicaid can be very confusing! A nursing home resident can own a home and still receive Medicaid benefits because the home is considered an…
Hurley Elder Care Law often discusses the protections for married couples when one spouse enters the nursing home and the other resides at home or in a community. But what happens when both spouses require nursing home level care? This occurs more often than you may think, and the Medicaid rules are quite different when…
It’s no secret that the Hurley Elder Care Law team loves their pets! Pets provide love and companionship to people of all ages but caring for a furry friend is especially beneficial for older adults. There are many ways you can plan to age while being a loving pet owner. Pets Do Improve Your…
What is a pet trust and how can establishing one help you take care of your furry friends? For many of us, a pet is a true part of the family. There are proven health benefits to owning a pet like an increase in your physical activity and more social interaction. Pets provide valuable companionship…
We live in an increasingly digital world. Technology is ingrained in our day-to-day lives, so much so that maintaining personal and financial information on the internet is routine. Any type of electronic information that can be stored on a device (such as a computer, tablet, or phone), online, or in the cloud is considered a…
What is an asset? The dictionary defines an asset as “something that is owned by a person, company, or organization, such as money, property, or land.” In general, there are four broad classes of assets: Equities (stocks) Fixed income and debt (bonds) Money market and cash equivalents. Real estate and tangible assets. A house, like…
When my Hurley Elder Care Law attorney recommends “asset protection” what does that really mean? Simply put, asset protection planning involves a comprehensive review of your current financial situation, your goals, your likely future needs, and your social support system. This thorough review leads our attorneys to an asset protection plan that will help you…
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