You may not know this detail about elder law and estate planning

You may not know this detail about elder law and estate planning

| Written by Andrew C. Grant | Any caricature of Florida inevitably shows a sizable senior population, which makes it no less true.  With an aging population come certain needs, including increased needs for health care and day-to-day living assistance.  Lawyers who work in Elder Law seek to assist clients with those needs in an economically efficient manner, whether by qualifying for Medicaid for long-term care costs, or structuring asset ownership so that long-term care costs don’t gobble up all the client’s assets. Planning for long-term care costs may require significant changes to the client’s estate plan, as well.  For example, qualifying for Medicaid may require giving assets away now instead of waiting until death.  That makes it important to consider both aspects of planning when trying to meet the client’s needs. Generally, there are three categories of persons when it comes to long-term care planning:  there are those with sufficient wealth to self-pay, or who have procured long-term care insurance that will...
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Leave your Mark!

Leave your Mark!

Do you dream of leaving your loved ones a legacy? According to a study released by Merrill Lynch and Age Wave, almost half of Americans 55 and older do not have a will. What is even more shocking is of that 50%, only 18% of seniors have a will, a health care directive, and durable power of attorney! With the current crisis and uncertainty of our economy, having a secure legacy plan is essential. A legacy plan is an excellent financial strategy, and when correctly prepared with a financial advisor, a legacy plan can leave both you and your loved ones with one less worry. Though talking about death with the people you love can be uncomfortable, having your family understand your wishes once you part is worth the inconvenience. A few things covered in legacy planning: Where you want to live once you are reaching your final days How you will be supported personally How you will be supported financially ...
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