How much should Medicaid Planning cost my family?

Jan 17, 2019 / By: Laura Easton

Category: Asset Protection, Estate Planning, Incapacity Planning, Medicare/Medicaid

How much should Medicaid Planning cost my family?  That depends on many factors, and the cost will depend upon the priorities you establish with an Elderlaw attorney. He or she should be able to give...

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Can a Roth IRA be transferred into an Irrevocable Medicaid Asset Protection Trust?

Jan 7, 2019 / By: Laura Easton

Category: Asset Protection, Estate Planning, Financial Planning, Medicare/Medicaid, Taxes, trust

Can a Roth IRA be transferred into an Irrevocable Medicaid Asset Protection Trust? Yes, and that transfer will not trigger income taxes, but the funds transferred will no longer be considered as a Roth. As...

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Do I Have to Transfer All of My Assets?

Dec 14, 2018 / By: Laura Easton

Category: Asset Protection, Estate Planning

If I create an Irrevocable Medicaid Asset Protection Trust to protect my assets against the cost of nursing home care, must I transfer all of my assets into it?  No.  Whatever assets get transferred into...

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Who has the Authority to Enter my Safe Deposit Box?

Dec 7, 2018 / By: Laura Easton

Category: Estate Planning

Is it a good idea to allow anyone else to have authority to enter my safe deposit box? Yes, if you trust that person. Only people whom you have told the bank have authority to...

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What Will Long-Term Care Insurance Cover?

Nov 29, 2018 / By: Laura Easton

Category: Asset Protection, Estate Planning

Will all Long-Term Care insurance policies cover the entire cost of skilled nursing care? Almost never!! Remember that all such policies have a maximum daily benefit they will pay and for how long. Usually, the...

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Should I prepay my funeral?

Nov 16, 2018 / By: Laura Easton

Category: Estate Planning

Should I prepay my funeral? At the very least, you should pre-PLAN your funeral. Doing that takes decision-making at a very difficult time far easier for your family. In addition, prepaying your funeral will insure...

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What is Medicaid?

Nov 9, 2018 / By: Laura Easton

Category: Estate Planning, Medicare/Medicaid

What is Medicaid? It is a federally funded program, distributed by the states, that, among other things, pays for skilled nursing home care (and, to a limited degree, assisted living) for those who qualify due...

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If I go into a nursing home and still own life insurance?

Nov 2, 2018 / By: Laura Easton

Category: Asset Protection, Insurance

If I go into a nursing home and still own life insurance, will my family ever receive the death benefit of the policy? It depends. If the policy is permanent insurance (that is, whole life,...

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Where Should I keep my Original Documents?

Oct 24, 2018 / By: Laura Easton

Category: Estate Planning

Should the originals of my will or trust be kept at home in a fireproof safe? No! Most safes that are on the market are only fire-retardant, not fireproof. As a result, they could be...

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Am I still allowed to give away up to $15,000 per year?

Oct 18, 2018 / By: Laura Easton

Category: Elder Law, Estate Planning, Medicare/Medicaid

Am I still allowed to give away up to $15,000 per year to any one person tax-free, and is that a good idea? It depends. There are two very different issues involved: (1) federal gift...

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