Downs Law Firm, P.C.
The idea of Medicaid Asset Protection Trust for the purposes of protecting against long-term care costs is becoming both more sought-after and more necessary.
A badly in debt woman dies leaving the proceeds of substantial insurance policies to her children only to have her trust contested by relatives who claim an amendment naming the children as beneficiaries is invalid with no witnesses, misspelled names, suspicious signatures and was never given to previous trustees for review as required by agreement. A long, expensive, and protracted legal battle likely is brewing.
These signs might point to cognitive decline nearly a decade before a formal diagnosis.
A not uncommon estate planning scenario is an elderly parent who lives with an adult child, either at the parent(s)’s home or at the child’s home.
While thinking about legacy planning can be unpleasant because it involves discussions about incapacity or mortality, it’s an important aspect of good financial planning that shouldn’t be ignored.
It isn’t just about wills and funerals—it is a reflection of your values, your goals for healthy aging, and the hopes and dreams you have for those you love.
Naming secondary beneficiaries can help estate planners avoid the delay and costs of going through probate, as well as ensure that your wishes are carried out.
As we grow older, many of us fear the possibility that we could be diagnosed with dementia. Few things are more frightening than the thought of losing our independence to this progressive disease. Researchers at the University of Cambridge now say signs of dementia may appear up to nine years in advance of when the illness is typically diagnosed.
It turns out it’s not just in the movies that you can get a huge inheritance from that uncle you never knew about.
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