Elder Law
As an attorney in fact under a Durable Power of Attorney you are authorized to act on the Principal’s behalf in certain financial and related matters.
Continue reading about RIGHTS AND DUTIES OF AN ATTORNEY IN FACT
Many people approach estate planning with a simple solution without realizing all of the ramifications. They place the name of an adult child on their bank accounts and sometimes even on the title to their homes. This approach may appear brilliant, yet unintended consequences may easily overshadow your original motives and good intentions. Careless titling of assets can jeopardize your property, your finances and your estate plan.
Nursing home care is the single largest out-of-pocket expense for seniors. Presently, the average cost of nursing home care in Massachusetts is between $90,000 and $110,000 per year. In most instances, MassHealth (Medicaid) is the primary insurance plan available to seniors to assist in meeting the costs of nursing home care.
Continue reading about Basic Masshealth Eligibility Rules for Nursing Home Coverage
Coping with the loss of a loved one is a difficult and emotional time. We hope that the information provided will help you focus on what you need to do and what you may wish to delegate to friends and family.
Estate planning is important because, no matter how young you are or small your estate may be, it allows you to ensure that your property will go to the people you want, in the way you want, and when you want
An elder law attorney may be able to:
Preserve a portion of the applicant’s income for use by a non-institutionalized spouse;
Provide for the transfer of the applicant’s assets to certain family members without creating a penalty period under Medicaid law;
Protect life insurance policies and proceeds;
Protect retirement benefits and accounts;
Protect the applicant’s home;
Identify last minute expenditures that may be made for the applicant’s benefit without creating a penalty period for Medicaid eligibility purposes.
To have legal capacity to execute a document requires that the person signing have sufficient mental capacity to understand and appreciate the implications of the document.
Although it may seem tempting to skip the “costly” process of working with a qualified attorney and take care of your estate planning needs on your own, in most cases, working with an attorney is a worthwhile investment to make.
One of the most common ways to protect the home from long term care expenses is a life estate deed.
A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to property for the benefit of another person, called a “beneficiary.” The trustee is responsible for managing, investing and distributing the property in the trust.
