As elder law attorneys, we focus on the legal needs of the senior community. We help clients understand some of the eventualities that they may face during the latter stages of their lives. It is important to address some inconvenient truths that can be difficult to accept. Life Expectancy When you think about your senior years, you probably envision the period that will immediately follow your working career. At that point, you can travel, engage in leisure activities, and enjoy your spare … [Read more...] about Effective Planning in Light of Dementia Threat
nursing home asset protection
People that don’t have enough good information sometimes make estate planning errors that yield negative consequences. In this post, we will look at three common estate planning traps that you would do well to avoid. Going It Alone There are those that know they should put a plan in place, but they keep procrastinating for one reason or another. Some of these folks see ads placed by websites that sell do-it-yourself legal documents, including last wills. Going this route can seem like a good … [Read more...] about Avoid These Three Estate Planning Traps
Elder law attorneys focus on the legal needs of senior citizens, and unfortunately, the most pressing issues are quite challenging. It is best to confront them head on so that you are fully prepared for whatever comes your way in the future. With this in mind, let’s take a look at two inconvenient truths that everyone should fully understand. Elder Financial Abuse Senior citizens that are vulnerable are often victimized by elder financial abusers and fraudsters. This is a problem that has … [Read more...] about Elder Law Attorneys Confront Inconvenient Truths
Before we get into the question that this blog post is built around, we will set the stage with some background information. Medicaid is important from an elder law perspective even if you have never been financially needy throughout your life. This is because Medicare will not pay for the custodial care that you would receive in a nursing home. These facilities are extremely expensive, carrying an average price tag of well over $100,000 a year in Vermont. The average length of stay is one … [Read more...] about Does Medicaid Seize Your Assets?
Everyone is aware of the need for retirement planning, and you can enjoy your golden years to the fullest if you take the right steps to build a sufficient financial underpinning. You can spend quality time with your family and friends, travel, enjoy leisure activities, and simply cross things off your bucket list. This can be one of the best periods of your life, but you should also consider the twilight years that will follow. When you reach the age of 67, your life expectancy is at … [Read more...] about Nursing Home Costs Can Erase Your Legacy
As elder law attorneys, we speak with a lot of people that are interested in learning about the eventualities of aging from a legal and financial standpoint. This gives us a unique perspective, because we know exactly what most folks are thinking about. With this in mind, we will share a hypothetical conversation between one of our attorneys and an inquisitive client. What specific matters do elder law attorneys address? Elder financial abuse is one of the issues that you should consider when … [Read more...] about A Conversation With an Elder Law Attorney
When we post on this blog, we usually share information about what you should do when you are planning your estate. On this day, we are going to go in a different direction that is just as useful if not more. We are going to look at five common estate planning mistakes that should definitely be avoided. Intestacy Let’s face it, passing away is at the very bottom of everyone’s to-do list. For many, it is a subject to be avoided, and this can yield negative consequences. If you keep … [Read more...] about Top Five Estate Planning Mistakes
Before we get to the question that serves as the title of this post, we have to provide some background information for the uninitiated. You may wonder why Medicaid is relevant to senior citizens when most elders will qualify for Medicare. It is true that both programs are government run health insurance programs, and they do cover many of the same things. There is however a huge difference that will explain a lot. Medicare will not pay for custodial care. This is the type of care that you … [Read more...] about Can You Give Away Asset to Qualify for Medicaid?
Estate planning can be approached in a few different ways. You can choose to play your cards close to the vest with regard to the way that you are going to provide for your loved ones. On the other hand, you could be open and communicative about your plans, and this is probably the better way to go if it is at all possible. There is more to the process of estate planning than the simple execution of the appropriate documents. You should definitely consider the events that must take place … [Read more...] about Estate Planning: Build a Family Relationship
As elder law attorneys, we advise clients that have concerns about the eventualities of aging. One of the most pressing issues is the matter of long-term care and expenses that go along with it. Many people are under the assumption that Medicare will pay for in-home care or a stay in a nursing home or assisted living community. In fact, the program will not generally pay for long-term care. If you are thinking that it is likely that you will be able to take care of all your own day-to-day … [Read more...] about Preserve Resources With a Medicaid Trust