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Baker Law Group P.C. – Estate PlanningBaker Law Group P.C. – Estate PlanningBaker Law Group P.C. – Estate PlanningBaker Law Group P.C. – Estate Planning
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Blog

Mature man sitting at kitchen table with spouse standing next to him, smiling and hugging him

What to Know About Estate Planning for People With Dementia

By Michael Baker | Elder Care, Estate Planning | November 18, 2019 | 1

Longer lives don’t always mean healthy lives; according to the Alzheimer’s Association, about half of people who live past age 85 will suffer from some form of dementia. Watching a loved one lose their language, reasoning abilities and memories is tragic, which makes it important for them to have an estate plan. When you’re caringRead more

A man is playing with his grandchildren outside. The toddler girl and boy hold his hand as they all walk down a beautiful path together.

Why It’s So Crucial to Make an Estate Plan

By Michael Baker | Estate Planning | November 13, 2019 | 0

No one wants to think about the end of life, but everyone should put their end-of-life wishes into writing. Making an estate plan isn’t just for the wealthy and it is not limited to a last will and testament. It can prevent unpleasant family disputes, take care of your dependents, and can ensure that you’llRead more

Close up of estate tax return with a fountain pen

What You Should Know About the Massachusetts Estate Tax

By Michael Baker | Estate Planning, Financial Management | November 6, 2019 | 0

When a loved one passes away, it’s difficult enough without having to sort out emotionally fraught estate issues. Plus, there are laws that govern the transfer of property which can make everything more complicated while you just need to grieve. It’s best to plan ahead so that you and your loved ones never have toRead more

What is a Testamentary Trust?

By mbaker | Asset Protection, Estate Planning, Trusts | September 25, 2019 | 0

As you work with your attorney to plan your estate, one tool you may consider implementing is a testamentary trust. This type of trust is created in your last will and testament, with terms specified in the will. Unlike living trusts, testamentary trusts only start to act after your death. This means you’re able toRead more

What Happens to My Probate Property if I Die Without a Will?

By mbaker | Estate Planning, Writing a Will | September 16, 2019 | 0

Without a will, state law will determine what happens to your property that goes through the probate courts. This process is referred to as “intestate succession.” Your property will NOT pass to the state; instead, the law directs it to pass to your next of kin as illustrated in the chart below. In Massachusetts, consultRead more

Grandmother and grandfather with 2 young children on a couch and laughing

Issues to Prepare For When Caring for Elderly Parents

By mbaker | Elder Care, Estate Planning | September 10, 2019 | 0

Part of life is a role reversal that hits as our parents reach old age. For many people, at some point they become incapable of truly caring for themselves or maintaining their own home, at which point that role reversal hits, and the children become the caretakers. By this time, the children have often reachedRead more

5 Key Reasons Why You Should Set Up a Living Trust

By mbaker | Asset Protection, Estate Planning, Living Trust | September 4, 2019 | 0

Living trusts are a critical part of many people’s estate plans. Like wills, they are a method of transferring assets to your beneficiaries after your passing. However, they have many benefits that wills do not, which is why estate planners often urge clients to set up living trusts rather than relying solely on their lastRead more

Why Do I Need an Estate Plan if I Don’t Have Kids?

By mbaker | Asset Protection, Estate Planning | August 28, 2019 | 0

One question we commonly receive from clients is whether or not estate planning is really necessary in their situation if they do not have any children. This is a well-meaning question, but it shows a general misunderstanding of what exactly estate planning is and why it’s important. Estate planning is more than just leaving behindRead more

Should I Worry About the Ethics of Medicaid Planning?

By mbaker | Asset Protection, Long-Term Care, Medicaid / MassHealth | August 20, 2019 | 0

Occasionally, we hear from clients or from others who have some objections to the idea of Medicaid planning in the context of paying for nursing home care. MassHealth is the Medicaid Program in Massachusetts. These objections are understandable to a degree—Medicaid planning does sometimes involve strategically eliminating assets so you can qualify for Medicaid andRead more

senior woman and nurse practitioner sitting on a bed while the nurse takes the woman's blook pressure. Both are smiling and happy.

Common Myths and Misconceptions Regarding Long-Term Care Coverage from Medicaid, MassHealth and Medicare 

By mbaker | Long-Term Care, Medicaid / MassHealth | August 12, 2019 | 0

Medicaid is the single-largest source for funding nursing home care that exists in the United States. In Massachusetts, the Medicaid program is called MassHealth. With as prevalent as it is, one would think the general population would be more knowledgeable about it, including who qualifies and exactly what it covers. However, there are a lotRead more

What Happens if You Die Without a Will?

By mbaker | Asset Protection, Estate Planning, Writing a Will | August 6, 2019 | 0

One of the questions we commonly receive from estate planning clients is what would happen to their assets if they passed away without a will. Most simply put, the state’s intestacy laws would dictate how your assets are passed out to surviving relatives. The laws of intestate succession vary depending on whether you were marriedRead more

Mature man and woman with grandchild sitting on the couch playing

Tips for Protecting Your Home After You’ve Moved Into a Nursing Home

By mbaker | Elder Care, Long-Term Care, Medicaid / MassHealth | July 29, 2019 | 0

While you might need to “spend down” some of your assets to qualify for Medicaid or MassHealth in Massachusetts. To pay for your nursing home care, you typically will not have to sell your house as part of this process. However, there is still a chance the state will attempt to file a claim againstRead more

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Beneficiary Designations: An Important Part of Estate Planning and Avoiding Probate

By mbaker | Asset Protection, Beneficiary Designations, Estate Planning | July 24, 2019 | 0

As you go through the process of planning your estate, you will need to designate beneficiaries for certain types of assets, including some insurance policies and accounts. For example, certain retirement plans (IRAs, 401(k)s, etc.), life insurance policies and payable on death accounts will all ask you to name a beneficiary. Beneficiary designations are independentRead more

What Do I Need to Know About Writing a Will?

By mbaker | Asset Protection, Estate Planning, Financial Management, Writing a Will | July 15, 2019 | 0

Writing a will is one of the most critical ways you can protect your loved ones and your assets after you pass away. Sure, there aren’t many people who enjoy spending time thinking about their eventual death and how it will affect those closest to them, but these difficult conversations and brainstorming sessions are necessaryRead more

two people at a table reviewing documents, only hands showing, with paper, pen, and calculator

The Benefits of Naming a Professional Trustee

By mbaker | Asset Protection, Estate Planning, Financial Management | July 9, 2019 | 0

If you have a trust as part of your estate plan, it’s likely you’ve named yourself as the current trustee and your spouse or partner to be a co-trustee. If you die or become unable to manage your own affairs, your spouse would then step in for you to serve as your successor. But whatRead more

Mature man and woman meeting with doctor, looking over documents with an open computer laptop nearby

What Exactly is Meant by “Spending Down” Assets for Medicaid or MassHealth?

By mbaker | Elder Care, Financial Management, Medicaid / MassHealth, Retirement Planning | July 1, 2019 | 0

To be able to pay for certain types of medical care with Medicaid known as MassHealth in Massachusetts, you must first qualify to receive Medicaid assistance. Medicaid is typically reserved for people who have low monthly incomes and/or few available assets to pay for their medical care. There are some people who have too muchRead more

What to Look For in an Estate Planning Attorney

By mbaker | Asset Protection, Estate Planning | June 25, 2019 | 0

Whether you consider your estate basic, simple, complex, small or large, an estate planning attorney is someone who is dedicated to mentoring clients on how they can properly organize their estate and affairs to prepare for the eventuality of their death or potential disability. No matter the size or complexity, the tasks associated with estateRead more

Your Options for Paying for Nursing Home Care

By mbaker | Estate Planning, Long-Term Care, Retirement Planning | June 20, 2019 | 0

If you’ve spent any amount of time investigating the possibility of nursing home care for yourself or a loved one, then you know just how expensive it can be. Fortunately, there are many ways to get assistance with paying the costs of nursing home care. Here is a quick overview of the most common waysRead more

estate planning

What to Consider When Including Funeral Wishes in an Estate Plan

By mbaker | Asset Protection, Estate Planning, Financial Management | June 13, 2019 | 0

While organizing your own funeral might not exactly be a task you take on with great enthusiasm, it is something you can do to help remove some of the burden from your loved ones in the immediate aftermath of your eventual passing. Your loved ones will already have plenty of other decisions to make andRead more

massshealth

How to Apply for MassHealth

By mbaker | Elder Care, Long-Term Care, Medicaid / MassHealth | June 6, 2019 | 0

If you are at least 65 years old or are in need of long-term care services, you may apply for MassHealth, Massachusetts’ Medicaid program. There are three ways of applying for the program: Applying by mail To complete the application by mail, print out the Application for Health Coverage for Seniors and people Needing Long-TermRead more

medicaid planning

The Most Prevalent Medicaid Planning Mistakes for MassHealth Nursing Home Benefits

By mbaker | Elder Care, Long-Term Care, Medicaid / MassHealth | May 29, 2019 | 0

Medicaid planning is an important part of estate planning for many people. Without the proper professional advice, there is the potential to make some mistakes that could cost you and your family quite a bit of money. Medicaid rules change frequently, so it’s important to work with an experienced elder law attorney who can helpRead more

elder abuse

Tips to Help You Spot and Confront Elder Abuse

By mbaker | Elder Care | May 22, 2019 | 0

It is an unfortunate reality that many seniors will become victims of elder abuse, and that these incidents of elder abuse add more than $5 billion per year to healthcare expenses in the United States. One report from the National Center on Elder Abuse estimated seniors lose $3 billion due to financial abuse per year.Read more

nursing home

Your Responsibility to Pay Nursing Home Bills on Behalf of a Parent

By mbaker | Elder Care | May 15, 2019 | 1

Many states have laws in place that make adult children responsible for paying for their parents’ medical care in certain circumstances. While these laws are not always (or even frequently) enforced, it is still worth understanding them to determine if you have any responsibility to pay nursing home bills on behalf of your elderly parents.Read more

medicaid

What You Need to Know About MassHealth and the Medicaid Penalty Period

By mbaker | Elder Care, Medicaid / MassHealth | May 8, 2019 | 1

As you may know, any gifts or assets you transfer within 60 months of applying for Medicaid benefits are subject to penalties. This 60-month or 5 year timeframe is what’s called the “look back” period. These penalties are not calculated in a dollar figure, but rather a set of additional months in which you willRead more

retirement planning IRA

Tips for Retirement Planning with an IRA

By mbaker | Financial Management, Retirement Planning | May 1, 2019 | 0

As the saying goes, the best time to start saving for your retirement is in your early 20s, but the second-best time is right now. If you’re looking to begin saving for your retirement, starting an IRA is a solid way to begin your planning. However, the prospect of opening up an IRA can seemRead more

Senior couple overlooking the ocean, arms around the back

An Overview of What You Should Know About Medicaid

By mbaker | Elder Care, Medicaid / MassHealth | April 25, 2019 | 0

Medicaid is a federal healthcare program that offers free or low-cost healthcare to qualifying adults and children with low incomes. The program is federally and state-funded, and each state has control over its own Medicaid program — for example MassHealth in Massachusetts. While the eligibility rules for Medicaid vary from state to state, there areRead more

3 generations of men, grandfather-father-son, sitting and enjoying each others company

Talk to Your Senior Relatives About These Common Financial Scams

By mbaker | Asset Protection, Elder Care, Financial Management | January 10, 2019 | 0

Financial scams targeting senior citizens have become unfortunately common, because they target a vulnerable population that tends to have more money in their bank accounts. These scams often go unreported and can be very difficult to prosecute, which makes them especially devastating to their victims. Therefore, it is important that victims are aware of someRead more

Senior and daughter reviewing costs, sitting on couch and looking at papers

Survey Reveals Costs of Private Nursing Home Rooms Hit Expensive Milestone

By mbaker | Elder Care, Long-Term Care | January 2, 2019 | 0

Every year, Genworth conducts a Cost of Care survey that pinpoints the median cost of private nursing home rooms in the United States. This year’s survey results were released at the end of October, and indicated a three percent increase in the median cost of a private nursing home from 2017. Now, that figure isRead more

What You Should Know About Purchasing Long-Term Care Insurance

By mbaker | Long-Term Care | November 21, 2018 | 0

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

What are the Rules for Transferring Assets to Qualify for Medicaid/MassHealth?

By mbaker | Medicaid / MassHealth | November 8, 2018 | 0

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

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  • Home
  • Practice Areas
    • Estate Planning
      • Overview
      • Estate Planning Attorneys
      • High Net Worth Estates
      • Asset Protection
      • Durable Powers of Attorney
      • Homestead Declaration
      • Trust Types Explained
      • Retirement Accounts
      • Healthcare Proxy / Medical Directive
      • Living Wills
    • Elder Law
      • Overview
      • Asset Protection and Elder Law
      • Life Estate Deed
      • Masshealth / Medicaid
      • Long-Term Care / Nursing Home
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      • Elder Law Attorneys
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      • Overview
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  • Home
  • Practice Areas
    • Estate Planning
      • Overview
      • Estate Planning Attorneys
      • High Net Worth Estates
      • Asset Protection
      • Durable Powers of Attorney
      • Homestead Declaration
      • Trust Types Explained
      • Retirement Accounts
      • Healthcare Proxy / Medical Directive
      • Living Wills
    • Elder Law
      • Overview
      • Asset Protection and Elder Law
      • Life Estate Deed
      • Masshealth / Medicaid
      • Long-Term Care / Nursing Home
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      • FAQS for Elder Law (MA)
      • Elder Law Attorneys
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      • Overview
      • Estate Administration Wrongful Death
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      • Probate Attorneys FAQ
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      • Selecting a Business Structure
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Baker Law Group P.C. – Estate Planning