As part of your estate planning, you must consider how you will arrange for your medical care and other needs if you are no longer able to take care of yourself. Many elderly Americans will enter long-term care facilities at some point in their lives, but only about 13 percent of all Americans in theseRead more
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Medicaid known as MassHealth in Massachusetts is made available to low-income families and seniors to provide them with healthcare coverage and coverage for long-term nursing home care. However, not everyone qualifies for Medicaid. If you are getting close to the point where living in a nursing home could be a legitimate possibility, you must startRead more
At some point, your elderly relatives might reach a point at which they are incapable of keeping up with their financial matters, including paying their bills, managing their retirement income and Social Security and budgeting their expenses. If you decide to take on the responsibility of assisting them in these matters, it’s important you approachRead more
It is with unfortunate frequency that we see stories in the news about seniors being abused or neglected in the nursing homes that are supposed to keep them safe and happy. This abuse can range from stealing money and emotional manipulation to actual physical abuse and neglect. If you have an elderly parent in aRead more
Aretha Franklin, the legendary Queen of Soul known for songs such as “I Will Survive” and “Respect,” left behind a tremendous musical legacy when she passed away in August that will never be forgotten or diminished. Unfortunately, she didn’t leave behind any estate plans, which has resulted in a bit of a mess for herRead more
If you’re at the point in your life where you’re focused on asset protection, you’ve likely spent years building up your wealth to get to this point. In working with an estate planning attorney, you will be able to develop an asset protection plan that shields your wealth from unforeseen circumstances, such as a lawsuitRead more
As more people across the United States return to focusing on shopping local rather than giving all their money to major businesses and corporations, it’s become correspondingly more important for owners of these small businesses to develop succession plans that will allow their business to stay in operation long after they’re gone. Of course, thereRead more
An Advance Directive allows you to dictate the kinds of treatments you do and do not want at the end of your life. It comprises documents such as a health care proxy (or health care power of attorney) and living will. As you prepare your estate plan, you might wonder exactly what you should includeRead more
For most people starting a business, their main focus is simply getting their idea off the ground by any means possible. Along the way they’ll incorporate and eventually, they’ll have a business that’s up and running smoothly (hopefully). What they don’t realize, however, is that choosing the right business structure during incorporation can have aRead more
Get Your Assets To Your Loved Ones Safely With A Living Trust The living trust is one of the most popular estate planning tools among Americans. An estimated 20 percent of all Americans have living trusts as part of their estate plans. But what exactly does a living trust do, and what types ofRead more
Use a Massachusetts Lottery Lawyer to Create a Lottery Trust One of the most frequent pieces of advice new lottery winners get from attorneys and other previous winners is to try as hard as possible to keep your anonymity. If your name gets out, there’s a strong chance you could find yourself quickly harassed withRead more
April 15th or technically April 17th due to the Patriots Day holiday is approaching and you may be considering making an Individual Retirement Account contribution for 2017 or 2018. IRAs offer a wide array of tax planning opportunities. Suppose that your spouse at her death has an IRA and you are the named beneficiary, butRead more
How Medicaid (MassHealth) Uses This Tool to Determine Whether You Have Enough Income When determining whether you qualify for Medicaid, known as MassHealth in Massachusetts, while there are limits on the assets a “community spouse” can keep, eligibility tests do not generally include the income of the community spouse. Under the worst case scenario, basedRead more
The Tools Available to Medicaid to Recover Benefits Paid after Your Death If you receive benefits from Medicaid, known as MassHealth in Massachusetts, during your lifetime, Medicaid may attempt to recover those benefits from your estate, though nothing can be taken until the death of your spouse, provided you were married at the time ofRead more
When determining whether you qualify for benefits through Medicaid, known as MassHealth in Massachusetts, to cover medical expenses, your local Medicaid agency will carefully evaluate your income and the property that you own. When you apply for Medicaid, any gifts or transfers of assets made within the previous five years (60 months) of the dateRead more