Ask The Pros
Answers to the most commonly asked questions about The Elrod Firm
Asset Protection
Why Should My Power of Attorney be Effective Immediately
Melissa, I’ve heard that my Power of Attorney should be effective immediately – as soon as I sign it – rather than it taking effect …
Tax Considerations
Transferring The Home to My Kids
James, I know that I want my children to get the home and land when I die, so why not just give them a deed …
Tax Considerations
Taxes and Trust
Lindsey, I’m interested in a living trust, but everyone keeps telling me that a trust will make my income taxes go up. Is this true? …
Long-Term Care Planning
Can Mom Pay Me To Care For Her
Melissa, I am spending roughly 25 hours per week at my mother’s house caring for her, which means I am only able to work about …
Probate
Explain What Types of Trusts Are Out There
James, I was talking with a friend at church she and her husband just made a family Trust. Is that different from a living trust? …
Medicaid Benefits
Do We Have To Spend Down To Nothing?
Justin, Last month my mom admitted my dad to a nursing home. Medicare has been covering the charges so far, but she just got word …
Estate Planning
I Created a Trust—Now Am I Protected?
Justin, I recently worked with an attorney to create an estate plan centered on a trust. Can I relax? Am I protected now? – Tim …
Probate
How Can I Avoid Probate Court?
Justin, when you designate that an annuity or an IRA is to pay at death to a specific person rather than to a trust, is …
Long-Term Care Planning
We Didn’t Plan for This. Now What?
Justin, My husband is currently in rehab. When that’s over, we’re almost sure he won’t be able to come home – long-term care in a …
Estate Planning
What Do I Need Besides a Will?
Justin, When our children were young, my wife and I set up basic wills to make sure they were taken care of if anything happened …
