How Do I Keep My Assets from the Nursing Home?

October 2, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Long-Term Care Planning, Power of Attorney, Probate and Estate/Trust Administration

Nursing homes are expensive with an average cost in the United States of $7,698 per month (2020 average). Most people cannot afford this expense, but they are in desperate need of the services provided by nursing homes (long-term care facilities).

Is a Disabled Person with Savings Eligible for Medicaid?

October 1, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Long-Term Care Planning

I am a social worker at a state facility for people with developmental disabilities. Most of the men I work with function at about 12 to 14 years of age. I am working with a gentleman who makes minimum wage and works six hours a day. He can’t have more than $1,800 in the bank or he will not be eligible for health benefits, so he has to spend his money. Otherwise, the state will take it.

Does an Ex-Wife Get Her Former Husband’s Inheritance Because He Died of COVID-19?

September 30, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Power of Attorney, Probate and Estate/Trust Administration

My big brother died of COVID-19 and he didn’t have a will. He divorced 20 years ago and has no children, but his ex is telling me she should get an inheritance. Who has the right to his money?

Will We See a Bump in the COLA for Social Security Next Year?

September 29, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Long-Term Care Planning

Thanks in part to the economic impact of the COVID-19 pandemic, don't bank on a big cost-of-living adjustment (COLA) for your Social Security benefits in 2021.

How Can I Help with My Grandchild’s College Tuition?

Part of estate planning includes helping with the ever-escalating costs of education for children and grandchildren.

What Needs to Happen after a Spouse Dies?

September 26, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Power of Attorney, Probate and Estate/Trust Administration

The list of things you need to do after someone dies can seem endless, especially during a time when you are also grieving.

Estate Planning Needs for Every Stage

September 25, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Power of Attorney, Probate and Estate/Trust Administration

Although there is often a progression of complexity in estate planning, this progression generally follows stages in life rather than specific ages.

Estate Planning for Asset Distribution

September 24, 2020
Bill O’Leary, Esq.
Asset Protection, Business Planning, Elder Care, Elder Law, Estate Planning, Power of Attorney, Probate and Estate/Trust Administration

The distribution of some of our assets can be governed by contracts. Examples of these contracts include life insurance, investment accounts, bank accounts and trusts.

How to Make Beneficiary Designations Better

September 22, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Power of Attorney, Probate and Estate/Trust Administration

Beneficiary mistakes can result in retirement plan assets being transferred to unintended beneficiaries.

What Happens If I Don’t Fund My Trust?

September 14, 2020
Bill O’Leary, Esq.
Asset Protection, Business Planning, Elder Care, Elder Law, Estate Planning, Life Insurance, Power of Attorney, Probate and Estate/Trust Administration

If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.