A health care proxy is a document that can save your life, even if you have no idea it is doing so. When you talk to an estate planner, you will discuss many items that are created for your protection in various situations. While they are all very important, none of them have the ability to allow someone you love to save your life when you are unable to speak for yourself.
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After every attempt has been made to allow your elderly loved one to live in their own home, it is time to transition them into an assisted living facility. You will need to apply to Medicaid to get the funding you need to pay for assisted living, and that could be a problem if you have given no thought to paying for assisted living in the past. The decisions you have made in previous years could come back as you try to determine who pays for the nursing home while the Medicaid application is being considered.
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A Marco Island will is a living document that needs to be maintained and cared for right up until the will owner passes away. It is important that the will owner and their estate planning professional get together to update the will and make sure it reflects the owner’s current situation. A lot can change in a year, and it is important to make sure that your will stays updated and current.
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When people in Sanibel talk about estate planning, they are used to hearing about wills and trusts. But when you ask those people whether they should use a will or a trust, most of them cannot come up with an answer. While you should always trust your estate planning details to a professional, it is also important to understand the basics of estate planning to help you better convey your concerns and ideas to your estate planner.
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In Naples, Florida, there are families with special needs members who want to make sure those special needs loved ones are cared for their entire lives. The problem with leaving someone with special needs cash in a will is that being a beneficiary can damage that special needs person’s ability to get the public funding they need to survive. If family members want to do something to help out a loved one with special needs, then there are trusts you can put together that will allow benefits to be distributed without hurting the chances of getting public assistance.
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Estate planning professionals spend a lot of time educating clients on the various details involved with good estate planning. There are ways to leave assets to loved ones that can cut down on taxes and lighten the loved one’s burden. But one area of estate planning that confuses people is the idea of gifting assets. It sounds like a great idea to leave assets behind as a gift, but it can be disastrous for your beneficiary if it is not done properly.
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When Fort Myers residents apply for Medicaid, there are a lot of rules they have to become familiar with. Many of these rules are critically important as they involve the protection or use of the applicant’s assets to pay for assisted living and long-term medical costs. While there is an imposing list of assets that are subject to Medicaid’s authority, there are also assets that remain exempt. It is important for Fort Myers residents to know which assets are exempt from Medicaid and any special rules attached to those assets.
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The people of Naples enjoy a comfortable lifestyle that allows everyone to be themselves, while still benefiting from being part of a vibrant community. That sense of individualism is important to all Naples residents, which is why it is important that everyone make sure their estate planning process is properly individualized.
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When a North Fort Myers resident is getting ready to transition into assisted living, they will inevitably start the Medicaid application process. Before you get involved in that Medicaid application process, you should hire an experienced elder law attorney to help with the many potential Medicaid penalties you could be facing.
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When a couple applies for Medicaid benefits for only one spouse, the other spouse might wonder if their personal income and assets are in jeopardy as well. For example, a spouse who remains in the couple’s home might wonder if Florida’s Medicaid system might go after the remaining spouse’s Social Security income to pay for the other spouse’s assisted living arrangements.
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