Answers to Your Frequently Answered Questions
Estate Planning
- What is estate planning?
- Why is it important to establish an estate plan?
- What does my estate include?
- How do I name a guardian for my children?
- What estate planning documents should I have?
Elder Law
- What is long-term care insurance and is it really necessary?
- What is Medicaid Planning and what does it involve?
- Doesn’t Medicare provide coverage for long term care?
- Is Medicaid Planning legal?
- How long will it take to become eligible for Medicaid?
- Can my children take money out of our joint account without affecting my eligibility?
- What are some criteria to look for when selecting a nursing home?
- Should I wait until I need Medicaid benefits before I see an elder law attorney?
Special Needs Planning
- What is the purpose of a Special Needs Trust?
- When should a Special Needs Trust be established?
- Who can establish a Special Needs Trust?
- Our family is wealthy. Do we still need to create a Special Needs Trust?
Living Trusts
- What is Probate and why does everyone want to avoid it?
- What is a Revocable Living Trust?
- What are the advantages of having a Living Trust?
- Will I lose any control over my property if I create a Revocable Living Trust?
- Do I have to transfer all my assets to my Living Trust?
- If I transfer title to real property to my Living Trust can the bank accelerate my mortgage?
Planning for Incapacity
- What is a Durable Power of Attorney?
- Who can establish a Power of Attorney?
- Who may act as an agent under a Power of Attorney?
- What is a Durable Power of Attorney for Health Care?
- What is a “Living Will”?
- What is a HIPAA Authorization?
Estate Taxes
- Will my estate be subject to death taxes?
- What is my taxable estate?
- What is the unlimited marital deduction?
- What is a Credit Shelter or A/B Trust and how does it work?
- What is a Qualified Personal Residence Trust (QPRT) and how does it work?
- What is an Irrevocable Life Insurance Trust and how does it work?
- What is a Family Limited Partnership and how does it work?