Category: Medicaid Asset Protection Trust (MAPT)
A health event can flip a steady routine in days. New bills. New care needs. Family members trying to help while wondering what is allowed and what is wise. This is where Medicaid Asset Protection Trusts become practical. They offer a lawful way to set aside certain resources for the long term while still keeping […]
“If you’re helping an aging parent navigate Medicaid because they don’t have long-term care insurance or you think you’ll need it yourself someday, it’s important to understand how the program works.” Medicaid is a government program used by Americans to pay for nursing home and long-term care. The Medicaid Estate Recovery Program (MERP) is used […]
No one wants a nursing home but the longer we live, the higher the chance we may need a nursing home at the end of life.” Nursing home care is expensive, costing between $12,000 to $20,000 per month, so most seniors should do all they can to prepare for this possibility. According to a recent […]
“Second (or third or fourth) marriages often require careful balancing between the needs of the surviving spouse and the needs of the children from a previous marriage.” It takes a certain kind of courage to embark on second, third or even fourth marriages, even when there are no children from prior marriages. Regardless of how […]
“Trusts are legal entities that own assets, and all trusts are not alike. They are created by a written trust document with certain provisions that can vary from trust to trust.” There are a few things all trusts have in common, explains the article “All trusts are not alike“, from the Times Herald-Record. They all […]
“Without a proper elder law estate plan, the children’s responsibilities are even more exhausting, stressful and sad.” It is the adult children who oversee aging parents when they need long-term care. They are also the ones who settle estates when parents die. Even if they can’t always come out and tell you, the recent article, […]
Children may not have to make as many major decisions at a difficult time in their lives. Elder law estate planning can make the lives of adult children easier by setting major goals and tasks in the process, according to the Times Herald-Record in “Three ways for seniors to make things easier for their kids“. […]
It will most likely be difficult or impossible to complete the tasks if all the facts are not available. When you go to visit an elder law and estate planning attorney, it is important to tell the truth about all aspects of your family members and other potential heirs. If not, it is possible the […]
If you end up needing Medicaid, the government will look closely at your assets. There are some ways around the problem of having assets and needing Medicaid. A trust is one of the answers, according to the Times Herald-Record in “Benefits of Medicaid Asset Protection Trust.” A Medicaid Asset Protection Trust is a trust that […]
“So don’t give away your money. There are other things you can do ahead of time. Talk to an elder law attorney to make sure you are maximizing your dollars, that you can still give your kids some kind of inheritance and still go into a skilled nursing home on Medicaid.” A recent article in […]
