Many persons who must enter a nursing home or long-term care facility in their later years will come to rely on Medicaid for payment of the great bulk of the expenses. However, the rules for qualifying benefits in Texas and elsewhere require that a person have limited...
Month: October 2014
Important estate planning decisions
In fiction, the death of a loved one is often romanticized to a certain degree. Upon the death of a wealthy character, grieving -- or gleeful -- family members often await the reading of the will, and many are surprised about the division of the assets. However, this...
Long-term care insurance makes sense for elderly planning
Long-term care insurance (LTCI) is usually a good idea for someone 55 to 70 who wants to avoid the potential financial hardship that can occur if a nursing home or home-care becomes necessary. The U.S. Dept. of Health and Human Services estimates nearly 70 percent of...
Living trusts can be combined with a will in the estate plan
There's generally no good reason in Texas or elsewhere why you can't have both a traditional testamentary will and a living trust at the same time. Both of these legal instruments specify what should be done with certain assets upon the owner's death. Living trusts...