Fall River & Quincy Estate Planning Lawyer
Legal Help with Estate, Medicaid and Nursing Home Planning
The goal of most estate planning efforts is to pass wealth to loved ones in a timely and cost-effective manner while minimizing the impact of estate taxes. A carefully considered and properly prepared estate plan can accomplish those goals and so much more. Estate planning tools such as Wills and Trusts can allow you to:
- Gift specific property to specific people (a Will)
- Set restrictions on when and under what conditions a person can access an inheritance (a Trust)
- Name a guardian for a minor child or incapacitated relative
- Transfer assets without having to go through probate (a Trust with a Pour-over Will)
- Communicate your wishes regarding end-of-life medical care with an Advance Healthcare Directive (also called a Living Will) and include HIPAA releases so your family has the ability to talk to your doctor.
- Enable someone to make medical or financial decisions for you should you be unable to do so (Power of Attorney, Healthcare Proxies)
- Shield your assets while allowing you to meet Medicaid eligibility requirements to pay for nursing home care (Special Needs or Medicaid Trusts)
Don't needlessly waste the savings you've accumulated over a lifetime. Leave your spouse and children financially secure. Call us, Fall River estate planning lawyer Wilfred C. Driscoll, Jr., and Laurie A. Sanford to schedule a free initial consultation: (508) 672-8718.
Circumstances Change and So Should Your Estate Plan
Many of our clients have recently gotten divorced or adopted a child. This is the ideal time to review any previous Will, Trust or Medical Directives. After all, few people would want an ex-spouse to make end-of-life medical decisions for us
A change in family situation should trigger a review of your estate plan, but you should also review your Will or estate plan if you have had a significant increase in assets or if you think you or your spouse may need nursing home care in the future. I can review your documents to ensure they are still meeting your estate planning needs. .
Elder Law and Medicaid Planning
Medicaid planning is critical for protecting a spouse from becoming impoverished when an ill spouse requires nursing home care. Medicaid is available to assist with long-term care expenses but there are asset and income limits. If you have too many assets, you may need to "spend down" those assets in order to be eligible for Medicaid help.
With advanced planning there are a number of things that can be done to protect a healthy spouse, to protect assets and to help you meet the Medicaid spend-down requirement. The earlier you plan, the more options you may have, but even if you will need nursing home care soon, it's not too late to take action. I offer our clients Medicaid planning and elder law services, including nursing home advice.
Contact MA Estate Planning the law firm of Driscoll Sanford Family Law
Call (508) 672-8718 or email Driscoll Sanford Family Lawto schedule a free initial consultation. I offer payment plans and flat-fee pricing for some legal matters.
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