While it's best to prepare for long-term care in advance, sometimes this isn't possible or isn't considered until our later years. Medicaid eligibility in some states depends on several factors, but there are steps you can take now to ensure the money you've worked...
How do testamentary and living trusts compare?
Many individuals make the mistake of assuming that drafting a will is the most critical aspect of estate planning. While a will is undoubtedly an important part of the process, preparing a health care proxy, advanced directive, and financial power of attorney are also...
Understanding the differences between a power of attorney and health care proxy
Estate planning can be a problematic and multi-faceted undertaking. It requires an individual to make a number of difficult decisions regarding their finances as well as their future health care needs. Every individual situation is unique, and there is no...
What is medical power of attorney?
Many people are familiar with the term power of attorney, but it's important to note that there are different kinds of powers of attorney. Those who are familiar with medical power of attorney may also think that this only applies to older individuals. That is not the...
Trusts that may be appropriate for Medicaid planning
Individuals often assume that their health insurance will adequately cover their medical expenses, including long-term care in an assisted living facility or a nursing home. The prospect that insurance coverage will be adequate to cover these costs is low. Most...