How to Pay for Nursing Home Care
One of the greatest fears people have about aging is loss of health and ending up in a nursing home. How are you going to afford to pay for long-term care? There are basically four ways to pay for the cost of a nursing home: Long-Term Care Insurance- Long Term Care Insurance is…
Assets & Finances | Elder Law | Estate Planning | Medicaid • Sep 4 2018
What are the exceptions to the Medicaid transfer penalty?
We do a fair amount of asset protection for families with loved ones entering nursing homes and deal with medicaid transfers. We almost always transfer assets out of the medically needy individual’s name. This generally allows for the preservation of a majority of the assets and allows the medically needy person to qualify for Medicaid….
Assets & Finances | Elder Law | Estate Planning | Medicaid • Aug 20 2018
Healthcare Costs during Retirement
In the practice area of Elder Law we often deal with how to pay for the medical costs of our clients. Most of the time people do not call until they are facing a $6,000.00 a month bill from the nursing home. Most people spend a large amount of money on healthcare before they ever…
Assets & Finances | Elder Law | Estate Planning | Medicaid • Apr 29 2014
What is a LLC?
Liability shield of a LLC Like corporations, LLCs provide their owners—called “members”—with a strong statutory liability-shield that protects their personal assets from claims against their business. Indeed, the LLC shield is arguably stronger than the corporate shield. Management structure of a LLC The default management structure of LLCs is much simpler than corporations. The management…
Asset Protection | Assets & Finances | Business Law | Business Planning | Estate Planning • Feb 24 2014
Long Term Care: The Steps to Qualify
It happens often to families today. They have to move a family member into a nursing home and it is never easy. You have to take someone out of their comfortable surroundings and move them into an area that they often do not want to go. Nursing home staff try to do the best they…
Assets & Finances | Elder Law | Estate Planning | Medicaid • Feb 4 2014
Keeping the Family Business in the Family
If you own and operate a business, you need to have a plan for the future of the business in the event you become unwilling or unable to manage it yourself. The problem with most business owners is they are so busy running their business they do not take the time to plan for the…