The Elrod Firm

Ask The Pros

Relevant answers to the most common questions about estate planning and elder law.

Asset Protection

It’s Too Late to Plan. Now What? (Part 2)

Justin, I have talked to my mother for years about signing a will and power of attorney documents, but she was never interested in thinking about those types of things. Just last week, she received a diagnosis of dementia from her doctor. I assume it’s too late to plan her estate now—what do we do?

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Asset Protection

It’s Too Late to Plan. Now What?

Justin, I have talked to my mother for years about signing a will and power of attorney documents, but she was never interested in thinking about those types of things. Just last week, she received a diagnosis of dementia from her doctor. I assume it’s too late to plan her estate now—what do we do?

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Guardianship

What Can I Do as Power of Attorney?

Justin, My father named me as his power of attorney several years ago. He has always managed his own business, but recently he hasn’t taken care of things like he used to—he stopped paying his bills and seems to be ignoring his doctor’s advice. What can I do as his POA?

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Asset Protection

How do we plan in a second marriage?

Justin, My wife and I both have children from a prior marriage. When one of us dies, we want to make sure that the survivor is taken care of, but we also have property we consider separate. We want to make sure each of our separate property winds up with our own children when we’re both gone. Is there a way to do that?

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Long-Term Care Planning

Is there a difference between Medicare and Medicaid?

Justin, My mother’s physician is recommending that she go to a nursing home because of her declining mental health. My friend went through a similar experience last year with her father. He broke his hip and had to move into a nursing home. Medicare benefits paid for her father’s nursing home stay and it did not cost him a thing. Do we need to look into Medicaid planning or will Medicare cover her expenses?

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Estate Planning

How can I change my deed?

Justin, Five years ago, I used a life estate deed to sign my home over to my three children to keep it out of probate court. About a year ago, my son died. I think it’s time to redo my deed to remove my son’s name—what will be involved?

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Long-Term Care Planning

Is there a Veterans Benefit to help pay for Assisted Living?

Justin, my father is about to be released from the hospital and will be going to inpatient rehab later this week. Because of his dementia I feel like he will need assisted living when his rehab is over. He is a veteran, and I read that he may be entitled to some sort of financial benefit to help. Is this true?

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Asset Protection

What if I do nothing?

Justin, I’ve read several articles and even heard a couple of presentations on the importance of estate planning, but I really don’t have that much. I own my home and a car and by the end of each month have around $15,000 in the bank. I really don’t want to go to the trouble and expense of doing an estate plan. What happens if I do nothing?

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Asset Protection

What To Do With Income Too High For VA Benefits?

Justin, I am a wartime veteran living in assisted living. I heard you speak on the VA Aid and Attendance benefit several months ago, so I called the VA to ask if I qualified. They said I didn’t because my income of around $2,700 per month was too high.

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Asset Protection

What Can Medicaid Take?

Justin, My second husband has dementia and will need a nursing home soon. When my first husband died, I inherited around $135,000 from him, which I have always kept separate in my second marriage. I was recently told that Medicaid will take my inheritance from me when my husband goes into a nursing home. This is not his money! Can this be legal?

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