Estate Planning (Wills, Trusts, and Powers of Attorney)
“Can’t I just put Mama’s assets in a trust and then apply for Medicaid?” We hear this question maybe weekly. Unfortunately for these families, qualifying for Medicaid is not that easy. Medicaid Asset Limits In Georgia, you cannot own more than $2,000 of countable assets to be eligible for nursing home Medicaid. For a thorough…
Read More Medicaid is a means-tested, government-provided health insurance benefit. It is the largest payer of nursing home care in Georgia. It is also commonly misunderstood. For instance, many people believe that they may have too much income for Medicaid. It is true that Georgia has an income cap. For 2018, that income cap is $2,250. This…
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It is news to many individuals that you can hire a professional to be the trustee or executor of their estate. Whether a will or trust is completed, everyone needs a representative to handle their estate after their death. For most individuals, this representative is a family member. If someone has no reliable family members…
Read More Get yourself a will because dying without one, “intestate,” is a drag for everyone. Not everyone has a will – even Prince died without one. Imagine, all that money and one of the greatest performers didn’t spend a little of it on sorting out his estate. We know that death is inevitable, but we continue to…
Read More On April 15, Americans will file their taxes. April 16, following Benjamin Franklin’s saying, “nothing can be said to be certain, except death and taxes,” is a day for health care decision planning. Each year, National Healthcare Decisions Day (NHDD) is observed the day after tax day. NHDD is a day of education and awareness, aimed at encouraging…
Read More A clear goal in your estate planning should be peace after death. Being flexible and thoughtful in your estate planning can help avoid family feuds over your possessions – their inheritance. Who gets the pink tablecloth? The latest indications are that your heirs will fight over your estate and perhaps even squander a…
Read More There are many legal terms for the roles we can play in an older adults life. Have you ever been asked if you are the guardian or the power of attorney for someone? What does it mean when you hear that someone is the executor or trustee for someone else? How about conservator—what is that?…
Read More For married couples, updating wills and beneficiary designations are important parts of Medicaid planning. Most of our clients have “I Love You” wills that leave everything to their spouse after their death. Likewise, their assets have their spouses as the Payable on Death Beneficiaries. This can be a huge issue if the spouse is receiving…
Read More “Do I need to update my will? My situation is very straightforward, and I don’t think anything has changed.” We are often asked this question, and everyone hopes that the answer is: “No—whatever you put in place 15 years ago is probably still fine.” Unfortunately, there are many reasons your will might need to be…
Read More We often hear from family members that assume it’s too late for their loved one to create and sign a new will because the person has dementia. Yes, at some point in the disease process, a person living with dementia will lose the capacity to sign legal documents. Having a diagnosis of dementia, however, does…
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