A life estate often comes up in discussions of estate and Medicaid planning. It is a form of joint ownership that allows one person to remain in a house until his or her death, when it passes to the other owner.
When hiring a caregiver, it is important to put the contract in writing. If you don’t it can affect your Medicaid benefits.
Charitable Lead Trusts offer a great mechanism for using your accumulated wealth to benefit BOTH your favorite church or qualified charity and your desired family members or heirs. Essentially, the creator of the trust or donor funds the trust with a certain amount of money or assets and the income generated from the assets are […]
Medicaid has strict asset rules that compel many applicants to “spend down” their assets before they can qualify for coverage. It is important to know what you can spend your money on without endangering Medicaid eligibility.