In my blog post this week I want to talk about the different types of powers of attorney and the confusion people sometimes have concerning what exactly each document allows them to do. Although different people may choose to use different names, I prefer to categorize the ability each
The last two weeks I have been explaining the danger of ignoring a potential capital gains tax while focusing on the avoidance of estate tax and asset protection from the cost of long term care. Mom wants to protect her $600,000 home from being lost to the cost of
It’s a question that I’ve been asked numerous times over the years. It’s also one that has caused a lot of confusion. I’ve spoken with some nursing homes who have told me their belief that it violates Medicaid rules. That is incorrect. Here’s the scenario. Mom receives Medicaid, which
Last week I was telling you about Monica’s dilemma. She thought the home she and her husband, Paul bought together with her mom had been retitled to them 15 years ago with Mom retaining a legal right to live there for her life time. But, that’s not what happened.
I received a call the other day concerning the following dilemma. Monica and her husband, Paul had bought a home together with Monica’s mom 30 years ago. The home was held as tenants in common, meaning if, for example, Mom died her share would pass by way of her