Takeaways Long-term care is common and expensive — and for many families, a few years of paid care can erase decades of savings. Medicare does not pay for long-term care. Medicaid does, but poverty is the price for admission into the Medicaid program. Elder Law attorneys who do Medicaid planning (not all do) can help
Takeaways Home care services offer older adults assistance with daily activities, medication management, and transportation, allowing them to age in place as an alternative to assisted living. Hiring professional caregivers can reduce stress and burnout for family caregivers and may foster a greater sense of independence for the older adult. Key signs that it is
Takeaways Estate planning is essential for stepfamilies and blended families to prevent accidental and sometimes, intentional disinheritance of children from prior relationships and to reduce family conflict. Tools like wills, trusts, and updated beneficiary designations are crucial for ensuring the surviving spouse and children from all relationships are provided for according to the parents’ wishes. Many couples enter
Takeaways Even large estates come down to the same core questions: who inherits, who’s in charge, and what happens if heirs disagree. Shared ownership can create conflict; complex assets need clear rules and buyouts. A will can transfer property, but it may not protect long-term goals. “Fair” planning doesn’t always mean identical roles; responsibilities can
Takeaways Online tools can help you spot developmental delays early and know when to ask for a screening. After a diagnosis, early intervention programs can connect young children to services and supports. During the school year, parent centers and reputable nonprofits can help you understand special education rights and prepare for school meetings. As your
Takeaways The need for long-term care is common, but proactive planning is rare. Nearly 70 percent of people turning 65 will need some form of long-term care in their later years. Yet most individuals — even those concerned about costs — fail to discuss it with a financial professional or fully plan for expenses not
Takeaways As an agent under a power of attorney, you are a fiduciary and must act in the principal’s best interest. Your authority comes from the legal document — you can only do what the power of attorney allows and what state law permits. Good records and separate accounts are your best protection against misunderstandings
While a durable general power of attorney that appoints someone to act for you if you become incapacitated is a great tool, in some circumstances a power of attorney might not be the right tool. In these cases, a revocable trust, also referred to as a “living trust”, can help. Why have a power of
Statistics available over the last few years indicate that only one in three Americans have an estate plan and fewer still have a trust. The primary reasons people typically give for not having an estate plan are: Procrastination Believing they need more assets Not knowing how to make an estate plan An estate plan is
Two or more persons can co-own a bank account. There are pros and cons to this arrangement — some of which most people are unaware. George Vasiliadis, an attorney with the law firm of Vasiliadis Pappas Associates, notes that “as with so many other estate planning tools, joint bank accounts are sometimes used when better
