No will or trust for your estate: What happens at your death?

If you have high-end property, it may be a challenge to plan your estate well. Even after careful planning, there may be changes in your life that can result in the invalidation of your original plans. For instance, if there are family changes or changes in tax laws that complicate your initial estate plan or will. However, when this happens and you pass away, Georgia law allows the distribution of your property to Read More

What is Medicaid Estate Recovery?

Many Georgia seniors turn to Medicaid to help cover long-term medical care costs. However, doing so may affect the estates of some seniors. What is the Medicaid Estate Recovery program? Medicaid Estate Recovery The Medicaid Estate Recovery Program is a federally required program. Chapter 111-3-8 of the Rules of Department of Community Health, Medical Assistance explains the program. This program requires that Read More

Protect your assets from Medicaid’s estate recovery program

Thanks to medical advancements and lifestyle changes, Georgia residents have a longer life expectancy than at any other time in history. As a result, more people must face the reality of long-term care. This requires being financially prepared. According to Georgia Medicaid, members often reimburse taxpayers for their long-term care and services through the estate recovery program. This means that the state takes Read More

How you can choose the best nursing home for your loved one?

Everyone has different needs and expectations when it comes to selecting a nursing home. If the time has come to find such a facility for your loved one, you should keep nursing home best practices in mind. Features high-quality resident care The nursing home you choose for your loved one should carry a 4- or 5-star rating from Medicare. Staff should demonstrate respect for all residents. Quality of care should begin Read More

What nursing home red flags should I look out for?

Choosing to place a loved one in a nursing home is a challenging decision. Even if it is in their best interest, you will probably have concerns about the quality of the care provided to your family member. Fortunately, it is possible to determine the overall quality of a facility by looking for a few key signs. U.S. News & World Report describes the following nursing home red flags to look out for. Delayed Read More

Estate planning and financial tips for late-in-life parents

Your relatives never thought this would happen, and, sometimes, neither did you. You became a father in your late 40s. The joy of parenthood overcomes you, but you also realize the near-endless responsibilities that come with it. One of the most important responsibilities is preparing an estate plan and making sure to provide for your child’s financial needs if something happens to you. As more and more people put Read More

What A Will Cannot Do

It is important to note that this is not a condemnation of a common estate planning tool referred to as a will—just the opposite. The point of highlighting the limitations of a will is so you can fill the gaps it leaves with other documents.  An estate plan is a collection of documents aimed at ensuring your assets are protected and that they are going to the beneficiaries of your choosing. Different documents Read More

Does it matter what kind of trust I have?

Trusts are a valuable estate planning tool. However, choosing the right type of trust for your estate planning needs is important. Revocable trusts have some advantages that make them a better choice for many people. Why it matters which type of trust you choose The type of trust you establish plays a role in how much control you retain over your estate while you are alive. It also affects when and how much taxes you Read More

When To Modify Your Estate Plan

You would have a difficult time finding an attorney who creates estate plans to claim that people don’t need one. That isn’t because they are trying to sell you on something. It’s because they have likely seen and witnessed the consequences of failing to develop an estate plan. Beyond that, there are other mistakes people can make. For example, they build a beautifully robust estate plan—and they never look at it Read More

Is it time to update your plan?

Estate planning is a lengthy process that will often last for a lifetime. The process does not end after the creation of your estate plan, after all. You also need to keep up with management, reviews and updates of the plan. But when do you know that it is time to update your plan? How do you even tell when you should review it? Reviewing and updating every 3 to 5 years According to Forbes, you can look for several Read More