...about the use of an irrevocable trust and qualifying for Medicaid. Many clients have legitimate concerns about the use of an irrevocable trust in their estate plans. In short, the use of irrevocable trusts should be used only in those situations in which the client is prepared to give up…
...have questions and concerns about Joint Ownership of property and accounts in their estate plans. In joint ownership, two or more persons share an undivided fractional ownership in property with rights of survivorship. This mechanism is effective for avoiding probate, because the property passes automatically upon the death of one…
In general, a transfer of the family home without consideration (i.e. a gift) within 5 years of an application for Medicaid will make the parent ineligible to receive Medicaid based nursing home care. One very important exception is the “Caregiver Child Exception”. Pursuant to 42 U.S.C.A. 1396p (c) (2) (A)…
This blog is intended for informational use only. The information contained herein should not be construed as offering legal advice or a legal opinion. Anyone who has had a need to talk with or employ a lawyer knows that lawyers are not cheap; and the State of New Hampshire continues…
One of the more common questions we are asked by our estate planning clients (usually on behalf of an aging parent or loved one) involves long term care expenses and to what degree they are paid for by "Medicare"? The short answer is: Medicare does not pay for “long term care”.…
The family home is typically one of the larger assets owned by older married couples or single people who consult with our firm for elder law and estate planning. Many of these clients have utilized their retirement assets and other savings and have questions about what to do with an…