Why an Irrevocable Trust May Be Superior to Gifting
Parents and other family members who want to pass on assets during their lifetimes may be tempted to gift the assets. Although setting up an irrevocable trust lacks the simplicity of giving a gift, it may be a better way to preserve assets for the future. ...Using Estate Planning to Prepare for Medicaid
Long-term care involves not only a loss of personal autonomy; it also comes at a tremendous financial price. Proper planning can help your family prepare for the financial toll and protect assets for future generations. Long-term care can be very expensive,...
How to Pay for Nursing Home Care in Maryland: 3 Key Ways
How to pay for nursing home care in Maryland: this is a common concern of so many families as their parents get older. In this article, we’ll cover the three main ways you can pay for nursing home care in MD, and a few options you may not have considered. And,...
Should You Make a Gift or Use an Irrevocable Trust?
One of the most common reasons to engage in estate and elder law planning is to preserve your assets while still qualifying for long term care benefits provided by Medicaid. Many individuals who are getting close to retirement age look for options, such as passing on...