If you are over the age of 55 and have been receiving
long-term care benefits from Medicaid, then the chances are very good that
Medicaid will try to recoup the money it has spent when you pass away. The
Medicaid Estate Recovery Program (MERP) exists in most states and has come
about to help keep down the costs of Medicaid to the taxpayers. Without the
MERP program, Medicaid would be giving out money and never taking anything in.
Over time, this sort of financial model is bound to collapse.
When you make an appointment with a Port Charlotte estate planner, they are going to expect you to bring a list of your assets and an outline of how you want your estate handled. But in the end, you make an appointment with an estate planner to benefit from their experience and to get their professional advice on your situation. Some Port Charlotte estates are handled just fine with a will, while others would benefit from a trust. This is one of the many important decisions an experienced estate planning lawyer can help you to make.
The field of elder law can be confusing if you do not have any experience. Most people with a casual understanding of power of attorney, guardianship, and healthcare proxy often feel that the three are interchangeable. The truth is that each is a separate type of legal document that serves a very specific purpose. If you feel that your parent needs to be transferred to a new nursing facility, you might be surprised to find out that a power of attorney is not enough to get the job done.
The people in North Fort Myers understand the
importance of protecting their families from a bleak financial future. Estate
planning is the way that you make sure that the hard work you have done
throughout your lifetime can be used to protect your family in the future, but
getting your estate planning done right all starts with finding the right
attorney.
Elder law attorneys get a lot of good questions from concerned people, but one of the most common questions involves adding a child to the title of the family home. There is a big difference between simply adding your child to the title or deed of your property and taking advantage of some of the legal vehicles that allow that transfer to take place automatically upon your death. There are pros and cons to adding your adult child to the title of your home, but you should not make this move until you have talked to an elder law lawyer.
Sanibel is a beautiful place where people come to enjoy
their retirement and benefit from their years of hard work. It is also the kind
of a place where young people come to start and raise a family. The key to a
long and happy life in Sanibel is planning ahead and being ready for whatever
life tries to throw your way. There are many ways to make sure you are ready
for life’s little surprises, and one of those methods is to make sure you get
the right legal advice from a good elder law lawyer.
The people in Bonita Springs work hard to accumulate
the wealth that they turn into their estates. It is important to be able to put
together a strong estate that ensures that your assets are distributed in the
ways that you want them to be. But if you are not careful, then you could make
some common mistakes that damage your Bonita Springs estate and put your
family’s future at risk.
Over the years, many people have incorrectly used the
terms Medicare and Medicaid interchangeably to the point where there is a lot
of confusion among the public. Medicare and Medicaid are two completely
different public health insurance options, and it is important to understand
their basic differences if you intend to use each service properly.
For some people, the idea of signing over their home to
their children later in life sounds appealing. They figure that the home would
stay in the family, and the parents can reap some benefits such as a lower
asset amount when applying for Medicaid. But the truth is that the act of
transferring your home to your children is potentially one of the worst
decisions you could ever make.
For Fort Myers residents who are making the transition
into an assisted living facility, Medicaid can offer valuable financial
assistance. But if those residents did not plan their Medicaid application
process properly, then there could be Medicaid penalties to pay that will cost
a lot of money.
