What financial powers of attorney include and don’t include can end up making a tremendous difference at a critical time. For people concerned with asset preservation planning, this is incredibly important. Think of the financial power of attorney as a tool kit, one that you’re building for the person that you’re naming as agent to do things […]
Alzheimer’s, Family Member Caregivers, and Medicaid and VA Benefits
Government statistics show that literally hundreds of billions of dollars of uncompensated care is provided by family member caregivers to those with Alzheimer’s. This opens up a great planning opportunity for both Medicaid and VA benefits. It is possible to compensate family member caregivers and not have the payments count as gifts, if done correctly […]
Married Couples and Medicaid: Your Residence
The opportunity to protect your residence when one person of a married couple goes into a nursing home is different, consistent with Medicaid eligibility, than if you are a single couple. For married couples, while the spouse who is going to apply for Medicaid can only keep $2,000 worth of assets, the spouse who is not in […]
Why You Really Can’t Do Without Powers Of Attorney
The single-most important estate planning documents to have in place are powers of attorney. There are only two people in the world who can put someone in charge of making and carrying out decisions for you if you become incapacitated. One is you, by having powers of attorney in place, and the other is a […]
Do Transfers of Assets From One Spouse to the Other Affect Medicaid Eligibility?
One of the most central questions we get from married couples during Medicaid planning is also one of the most misunderstood questions: What is the effect of transfers of assets prior to application from one spouse to another? The common misconception is that married couples believe they can’t transfer assets between each other because of the […]
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