Joint tenancy is the condition of joint ownership. Let’s say that you own a home outright. You can add a joint tenant to the deed, and the joint tenant becomes a co-owner of the property. Joint tenancy can potentially be used when you are [Read More]
Are Revocable Living Trusts Only for the Wealthy?
There are those who harbor misconceptions when it comes to estate planning. One of these is the notion that trusts are only useful for wealthy people. It is true that certain types of trusts are used by those who could be described as wealthy. However, revocable living trusts are useful for people of relatively ordinary … [Read More]
Medicaid, SSI, and Special Needs Trusts
The Medicaid program is a need-based program. It is not available to people who have significant personal resources to draw from. Supplemental Security Income (SSI) is also a need-based program. Many people who have disabilities rely on these programs. Medicaid provides health insurance to those who can qualify. SSI delivers a modest amount of monthly … [Read More]
Medicaid Planning & Early Signs of Dementia
When you are approach the process of estate planning in a holistic way. While there are certainly exceptions, people generally pass away after reaching an advanced age. The average life span at the present time is 78 years, but the segment of the population that is 85 and older is growing faster than any other. … [Read More]
How Long Does the Probate Process Take?
The probate process comes into play when you are in direct personal possession of property after you pass away. As a Connecticut resident, if your estate is valued at less than $40,000, you could potentially qualify for a simplified probate procedure. Otherwise, your estate must pass through the full probate process unless you take steps … [Read More]
What Are the Disadvantages of a Medicaid Trust?
Long-term care expenses are something that you should take seriously when you are planning ahead for the future. If you are like many people, you may assume that Medicare will pay for assisted-living if you need it at some point in time. In fact, Medicare will only pay for convalescent care for up to 100 … [Read More]
Probate in Hartford Connecticut: Does It Cost Anything?
The contact our firm to request a free consultation. [Read More]
Does Medicaid Cover In-Home Care?
The Medicaid program is important to many senior citizens because Medicare will not pay for long-term care. If you need assistance with your activities of daily living as a senior citizen, you will have to find a way to pay the bills, because this is considered to be custodial care. Medicare does not pay for … [Read More]
Do I Have to Pay Taxes When Someone Leaves Me Money?
It can sometimes seem as though you are taxed at every turn, and taxation potentially comes into play when you are planning your estate. We will look at the matter in this post. Inheritance Recipients If you are the recipient of an inheritance, do you have to pay income taxes on this windfall? This is … [Read More]
Should I Have a Durable Power of Attorney for Health Care?
Estate planning is usually thought of as being within the realm of financial planning. This is true on one level, but it also connects to elder law. You want to know all the facts and make preparations for the eventualities of aging. As a result, a comprehensive estate plan would include an incapacity planning component. … [Read More]
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