Questions and Answers
This is an obligation to act in the best interest of another person. Typically, a fiduciary takes care of money or other assets for another person. When you serve as trustee or executor you owe the beneficiaries “fiduciary duties” of loyalty, reasonable care and prudence, to name a few.
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It is never too early to proactively talk about estate planning. I have family meetings with my clients and their children while my clients are in their 50s, so they are young and healthy still. It is always hard to talk about these things when we are in a crisis mode and stress levels as high. If... more
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The right time is NOW! Why are you waiting?
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Typically Medicaid rules, which vary state to state, allow the well spouse to maintain an amount of what would otherwise be available assets for qualification purposes at the time you apply for Medicaid. Assets acquired after the spouse is institutionalized are not protected and will be counted at... more
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If you are legally married, then all money is both of yours as far as Medicaid is concerned. While the nursing home nor the government can "access" this account, if you refuse to pay the nursing home bills and your husband is not otherwise qualified for Medicaid, then he will be evicted and you... more
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This is a great opportunity to be proactive. There are a couple essential documents to start with. The first two deal with incapacity: the power of attorney and advance health care directive. Each nominates a person or persons to handle your parents' financial and medical decisions during periods on... more
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The same legal documents YOU and anyone over the age of 18 needs: Wills, Trusts, Powers of Attorney for business matters, Health Care directives. Do you have yours?
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Help to give away her possessions while she is living so there is less fighting over them after she passes. Also, make sure her Will, Trust, and health care orders for Do Not Resuscitate are in order under your state's laws and you know where these documents are.
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Get him to an elderlaw attorney NOW!!!!!!! and get his Power of Attorney, WIll and Health care directives updated, because once he becomes incapacitated then you cannot change any legal document nor create any for him. Then, get a full financial assessment from a fee only financial planner who... more
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Yes, as long as it is from the allowance, and not from her income that must go to nursing home in order for Medicaid to pay for her care.
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