Estate Planning Lawyer
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FAQ
1. What is the lookback period for nursing homes?
This is a 5 year period where the Medicaid state agencies show whether the applicant from this health plan has transferred assets less than the regular market value. A way to avoid this is by having a caregiving agreement, exemptions, trusts, waivers, or other planning assistance.
2. How can you protect your assets with trust?
Any kind of trust gives your estate and everything you own that’s named an asset safe with legal security according to this contract. A trust is more of a preparation that excludes all kinds of probates included.
3. What is an executor’s deed?
An executor’s deed is to follow what’s instructed on the Will that they’ve been assigned from the person who has written it. What needs to be done is to file it to a proper estate plan attorney to do these deeds.
4. What is the best way to protect assets from lawsuits?
Ways to protect assets from lawsuits is to either build your trust or any other plan that gets a lawyer involved. Other ways to protect your assets are by filing your retirement accounts, getting insurance and other business benefits.
5. What is a slat trust?
A slat trust is a form of an irrevocable trust where one spouse makes a gift into a trust for benefits or other members of the family while removing these assets from the combined plan. This helps maintain a more steady plan for everyone in the household.
6. What are some questions to ask a probate attorney?
Before getting a probate attorney for the case things you should ask is; if they have executed a Will before and what their experiences are on this matter, how much do they charge for their services, how long would this process take, what is there to be expected during the waiting process of filing or other duties the lawyer may help with that can be more of an extension to the services.
7. Why do I need an elder law attorney?
An elder law attorney can provide you with the essentials to long-term care, Medicaid planning for possible nursing homes, or home arrangement. An elder law attorney deals with serious cases like elder abuse and recommends the services you need in the future if diagnosed with a mind deteriorating disease such as dementia. You can ask for a power of attorney and health care directives to help plan what you may need in the future with Medicaid. You can do this by also creating trust beforehand.
8. Who can sign as a witness?
As long as the person is of the age of 18 in the United States, you are allowed to assign anyone as a witness of any statement or legal document. Those under the age of 18 can be a witness until legal witness until it is so and he or she has a saying with what has been stated.