Most people wish to leave the valuable assets they acquired over the course of a lifetime, such as real estate and savings, to the next generation. One of the best ways to achieve this goal is by setting up a trust. A trust is a financial arrangement between three parties. In a typical trust the […]
Medicaid is a government program that provides millions of Americans with health coverage and other benefits including nursing home care. The recipients of Medicaid include the elderly, disabled and low-income adults, pregnant women and qualifying children. Many of the services provided by Medicaid, such as doctor or hospital visits, nursing home stays and medicine, are […]
In this day and age, it’s not uncommon to become inundated with bank stubs, receipts from purchases and other documents or scraps of paper of varying importance. While we cannot (and should not) hold on to everything, understanding which documents should be kept secure and safe and which documents can be replaced or are unnecessary […]
When you apply for Medicaid, the state will review your financial records for the previous five years. That means that you may need to have a plan in place for your assets at least five years before you apply for Medicaid. This 5-year look-back period means you cannot just give away your assets or sell them for less
Many people put off estate planning and find themselves unable to get help when they need it. When a person loses their mental capacity, planning options are limited. Planning ahead for long term care needs, including Medicaid eligibility, helps ensure your spouse and family will continue to have financial stability if you need long-term care.