Irrevocable Funeral Trusts (IFTs), or differently phrased, Irrevocable Funeral Expense Trusts, allow persons to pay for their funeral and burial costs, also known as final expenses, in advance of their death. They are legal agreements that not only allow peace of mind knowing that funeral funds are available when needed, but they are also an invaluable Medicaid planning tool. Essentially, IFTs provide a way for Medicaid applicants to lower their countable assets and meet Medicaid’s asset limit for qualification...
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Author Archives: "ELCWI Support"
25 Jan
Off
The Importance of Having a Knowledgeable Probate Attorney to Assist with Estate Administration
A probate attorney can help the family members of the deceased person resolve any debts and distribute the assets.
The probate attorney, also known as the estate attorney, aids the estate executors to manage the probate process. It is important to have a probate attorney assist you with knowing your rights when it comes to creditors or any of the deceased’s final bills or expenses.
It is also important to have a probate attorney assist you
with saving on taxes. A...
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11 Jan
Off
Here’s what happens with Social Security payments when someone dies
KEY POINTS
In most cases, funeral homes notify the government that a person
has passed away.If the person was receiving Social Security benefits, a payment
is not due for the month of their death.Survivor benefits may be available, depending on several
factors.
When a loved one receiving Social Security benefits passes away, you may wonder how the government knows to stop sending that monthly money.
Or, maybe there’s a surviving spouse or dependent who relied on
that income and wonders whether some sort of payment...
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05 Jan
Off
How can you precede an estate plan with the help of the real estate attorney?
What can a real estate attorney do for you?
The series of tasks that a real estate lawyer would perform varies depending on the situation and the agreement between the attorney and the client. Some real estate clients have a small budget and want a lawyer to provide a quite simple and fast read of the documents to make sure that there is nothing outrageous in the documents. Any real estate attorney can further deliver the following services for clients:
Drafting...
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21 Dec
Off
Why should you hire an elder abuse attorney?
According to recent surveys, the most common type of elder abuse in care facilities is neglect.. Neglect happens when a caregiver is negligent or behaves indifferently to the well being of the elderly persons who are under their care. If a nursing home doesn’t provide the care they deserve or seek, that might prove negligent. There is a possibility that the neglect is not intentional, but it might result from the understaffing problems at the nursing home. You should...
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09 Dec
Off
Providing Financial Security for Your Spouse and Children With Medicaid Planning
Long term care has now become one of the most common issues for Americans in retirement. Almost each of us is aware of someone who is presently at a medical care facility or nursing home, yet this is something, which we would personally never want to go through. According to recent studies, approximately 50% of Americans over age 65 will need a nursing home or assisted living facility, at some point in their lives. Long term care costs can...
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26 Aug
Off
Hiring A Nursing Home Abuse Attorney To Represent You In Your Elder Care Issue
The decision to
place your loved ones in a nursing home is difficult. It requires a lot of
trust and a lot of factors to put into consideration before you settle on the one. After all, a family is placing
the care of an elderly person into the hands of a complete stranger. Whenever
abusive or negligent nursing home workers violate the trust of the family, they
not make the elderly resident suffer, but also leaves family with the guilt and
anger of making a...
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20 Jul
Off
What Does Probate Lawyers Do And Why Is It Important To Hire The One?
Did you lost your loved one recently, and now you have to deal with the probate process, however, have no clue about this process? No worries, it is a time to consider hiring a probate attorney. Well, it is a somewhat tricky and complex process, particularly because family conflicts and taxes come into this. But, fear not, it can be managed and made far simpler with adequate professional guidance. A probate attorney can help you go through all your...
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16 Jun
Off
When Do You Need a Tax Attorney?
In your hour of need, a tax lawyer proves of great help. A tax lawyer is not like accountants; he fights the law. It's not possible for accountants to handle all things associated with tax planning, that's where a tax lawyer comes into play. He helps you plan the best course for your future.
A tax lawyer is required to have a Juris Doctor degree, commonly called J.D. He must be admitted to a state bar for practice, and these are just minimum...
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03 Jun
Off
When Do You Need A Probate Lawyer?
A probate attorney can help family members of a deceased person to settle the debts and distribute the assets.
What Is a Probate Lawyer?
Probate attorney, also called trust or estate attorney, helps executors of the estate in managing the probate process if there is no will.
Probate attorneys also help with estate planning; they give advice on powers of attorney, and also help in the drafting of wills or living trusts, or even serve as an executor or administrator.
Can The Assets Of A Deceased Person's...
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