Newsletters

Kinds of Powers of Attorney for Finances

There are two kinds of durable powers of attorney for finances: those that take effect immediately and those that take effect only upon your incapacitation where one or two doctors declare that you can no longer manage your financial affairs.

Beneficiaries -- Issues in Choosing Professional Advisers

A beneficiary should ask himself whether he wants to (or can) tend to the estate himself or whether he would rather delegate the responsibility to someone else. The larger the inheritance, the more likely a beneficiary will need professional advice. A six-figure inheritance or greater will probably change many things in a beneficiary's life and he will need good advice for these changes.

The Natural Objects of One's Bounty - I

One advantage of making and leaving a will is that you can specify to whom you want your property to go after you die. Whether or not you make and leave will, it is useful to know the traditional names for the various members of one's family.

Wills - The Writing Requirement

A written will is obviously required to be in writing. What the writing requirement really means is that the medium a will is written in must be sufficiently permanent. The medium must be permanent enough to provide a reliable record of the testator's testamentary desires for the probate court.

Medicaid Trusts

Medicaid is a needs-based (welfare) benefit program administered separately by each state, but funded in part by the federal government and in part by each state. A person qualifying for Medicaid is allowed to have only a minimal amount of assets, other than a home. Although each state may have certain differences in its particular Medicaid regulations, each must follow certain basic federal guidelines in order to be eligible for the federal subsidy. One of those guidelines is the waiting period imposed on a person who transfers assets and later applies for Medicaid benefits.