“How does a Home Legacy Trust protect my home from creditors and predators?”

For most of us, the most valuable asset we have is our home.  I’m talking about when we own it without owing any money on it.  And when we think about losing our assets to the cost of long term care or to a lawsuit, the one we most want to protect is our home.

It is, after all, where we live.  And if often has sentimental value to our children and we want to be able to pass it … (Read more)

Free workshop on estate planning and elder law in Birmingham on October 2 at 2pm

We wanted to let you know we are having a free workshop (“The 7 Threats to Your Estate Plan”) at our Birmingham office on October 2, 2014, at 2 pm.

This is a free workshop where we are confident you will learn a lot and have some fun doing so.  🙂

The subjects of estate planning and elder law are not normally the most exciting topics to think about but they are important.

And we can discuss these in … (Read more)

“I know Medicaid has a look back rule for several years when you transfer property – what about the VA?”

If you apply for Medicaid, and you qualify for Medicaid, then Medicaid looks back five years (60 months) and says, “Okay. You qualify. You made the health, the financial, all the requirements of Medicaid. But did you make any gifts in the last five years? Did you give away anything?”

If you did, then there are going to be some penalties involved. When I say “gift,” you transfer property and did not get the full fair market value. So you … (Read more)

“If I don’t have power of attorney over my parent, how do I make decisions for them?”

If you don’t have a proper and valid power of attorney over financial matters, and if your parent is no longer competent, then you can’t make decisions for your parent.

The options become limited to seeking a conservatorship (power over money)and/or guardianship (power over the non money aspects — health, etc) over your parent.

Here are the disadvantages of this:

• It takes time to get this through Probate Court
• It costs money in terms of legal fees, court costs, etc.

“Is it christian to plan for Medicaid or VA benefits in the future to pay for long term care?”

Here is the objection that some have said about doing any type of “Medicaid Planning” or “VA Pension Planning” to prepare for long term care costs.

“It is wrong for a Christian to arrange his or her assets to qualify for Medicaid or VA Pension — instead the christian should spend his or her own money to pay for long term care.”

In my view, this is incorrect.  Let’s take a look at this and then you can reach your … (Read more)