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New VA Pension Transfer Penalty

What is a Transfer or Gift?

A gift or a transfer is any activity that involves selling, gifting, and exchange of assets for a less amount than what is in the market. Also, a transfer could be a charitable asset transfer, such as a charity. However, this could be disputed if the total balance of the assets can be settled for the benefit of the claimant.

Initially, there are ways of protecting assets instead of giving money away. This is where an asset protection trust comes into play.

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Common Medicaid Myths

Access to quality health care is one of the fundamental human needs. In a society where there are differences in economic classes, low-income earners have limited access to medical services, since healthcare providers expend care services at a cost. To include individuals in the low-class in quality health care plans, the government created the Medicaid Program in 1965.

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How to find out if there is a Medicaid Lien on a House

What is a Lien?

A lien refers to a claim or charge on a piece of real estate or property.

What is a Medicaid Lien?

A Medicaid lien is a claim made by the (DSS) Department of Social Services on your property to cater to your Medicaid assistance expenses. It refers to medical payments made on behalf of the individual receiving care.

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What Happens to my Pets When I Pass Away?

Death is inevitable, and it happens to everyone. When a pet owner dies, decisions regarding the ownership of the pets must be made. In most situations, pets remain in the same house together with the surviving relatives. Prior preparation is necessary for these instances, as you consider where this pet will be provided with essential needs. What if you pass away without designating how your pet will survive? Discussed below are options you ought to consider regarding your pet before you pass away.

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Why Estate Planning for Long-Term Care Pays Off

When it comes to estate planning, what comes to the minds of many people is what will happen to their properties upon their death. However, that worry lacks a significant consideration, which leads to making the same mistake for many people. That consideration requires the need to plan for long-term care.

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These Mistakes Can Damage Your Cape Coral Estate

Estate Planning

Life is full of many chances, but it does not give you a second chance to rectify serious estate planning mistakes. For instance, failing to take a comprehensive approach to estate planning or writing a mistake in your will can severely damage your Cape Coral estate. Accordingly, your trustees and beneficiaries will face a difficult probate battle.

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Can I Put My House into a Living Trust if There is a Mortgage?

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Transferring mortgaged property to a trust might be complicated but not impossible.Enrolling in a living trust is a way of having your assets ownership transferred to your trust. The trust claims ownership of the assets so that it can do what you intended it to do.

One of the most significant assets people own is their home, and this is the type of asset you would want to transfer into your trust.

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Why You Need to Update Your Durable Power of Attorney

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A power of attorney is a very crucial document that everyone should have. For instance, in case you conduct your businesses in other states, you can use a power of attorney to give another person or people you appoint the legal authority to represent you in those businesses as well as legal and financial matters. Furthermore, in case of any accident or illness that makes you unable to effectively handle your personal legal or financial matters, the power of attorney will allow the authorized individual or individuals to make such decisions on your behalf; otherwise, the courts would take charge of your financial and legal matters.

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