Q. What things can be done to avoid probate? A. A simple way to avoid probate is to give away property during your lifetime. But there can be consequences because you lose control and cannot recover the item, cash or property just by asking. The new owner has to agree to return something to you…
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My Mother just inherited $60,000.
Q. My Mother just inherited $60,000. She owns her own home and has a modest income. She has few other assets. She had a stroke and now requires help to oversee her medicine, prepare meals and she no longer drives. Will she qualify for Medicaid? A. Medicaid is a federal program with some state variables.…
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Does a revocable trust replace a will? Do all assets have to go into the revocable trust? And how much do trustees typically get paid?
Living or revocable trusts are effective estate planning tools that can avoid the hassle and cost of probate and ease the transition of assets after the death of a grantor. Clients often think that because their trust contains some, if not all, of their assets, that they only need a living trust to direct distribution…
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Does a Health Care Power of Attorney cover Medicare?
Not necessarily. Medicare due to its privacy notice has its own form they want completed. A competent person can complete the form called 1-800-MEDICARE AUTHORIZATION to Disclose Personal Health Information. This allows the named agent to talk with Medicare, research, choose coverage, handle claims and file an appeal. Its best not to limit the information…
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