When most people hear the term “estate planning” they think of a Last Will and Testament. After all, the Will is typically the cornerstone of one’s estate plan. However, for most of us, it is statistically more likely that we suffer a disability, then die. Therefore, to deal with the problem of disability, many look … Read more
For starters, all powers of attorney are simply written documents whereby you authorize someone to act on your behalf. For example, a mother may name her daughter to act for her. However, if your power of attorney is not “durable”, you may find that the power of attorney is useless when it is needed most. … Read more
In another article, I look at the benefits of a power of attorney. After all, it’s an easy way to give someone else (your “Agent”) the power to act on your behalf in the event you become disabled. In the second article, however, I was careful to warn of the problems that arise if you … Read more
On November 29, 2006, Governor Rendell signed a new law dealing with Living Wills and Health Care Powers of Attorney that becomes effective January 29, 2007. The law was a long time in the making as various groups have been working on these issues for the past ten years. While the part of the new … Read more
Medicaid is the federally funded program that pays medical expenses for the poor and nursing home costs for many of the elderly. There have always been asset and income limits designed to make the program available only to those who are truly poor. However, through proper planning many have successfully gifted assets in order to … Read more