In this Elder Law and Estate Planning Minute, Wes Coulson, Southern Illinois Elder Law attorney, discusses why a will isn’t the best way to protect your estate from going into probate and that the better option is having a living trust. ? Does a Will Keep Me Out of Probate? Transcript: Hi, I’m Wes Coulson from […]
Do Living Trusts Protect Assets From Medicaid or VA Spend Down?
Living Trusts are valuable estate planning tools, but they don’t do anything to protect your life savings from long-term care costs during the Medicaid or VA spend down process. For that purpose, we need a different type of trust that can work together with your Living Trust called an Asset Preservation Trust. In this Elder […]
Living Trusts vs. Wills: Being able to give informal direction to trustees
When it comes to planning your estate, there are many decisions that need to be made that ultimately lead to a number of questions. One such query is that regarding living trusts vs. wills and which is better for an estate plan. Wills speak to one moment in time and that is when you die, […]
Essential Legal Documents Anyone With Alzheimer’s Needs to Have in Place
No one plans on Alzheimer’s, however a person diagnosed with Alzheimer’s should put some planning in place, while they still can, and in the form of legal documents. There are a number of legal decisions someone diagnosed with Alzheimer’s can and should execute, and as discussed in Can Someone Diagnosed With Alzheimer’s Still Execute Legal […]
Does a Living Trust protect my life savings from long-term care costs?
A Living Trust is an important estate planning document that offers many advantages, including keeping your estate out of probate after you die. However, does a Living Trust protect your assets from long-term care costs? This question gets asked quite frequently and the answer is simply, no it does not. In this Elder Law Minute, […]