Adult children of elderly parents often face a dilemma: In order to qualify their parents for Medicaid and in-home care, their parents’ assets must be depleted, or spent down. As a result, many elderly Americans are faced with a choice — forego needed health care or lose their home. An experienced estate-planning lawyer, however, can explore strategies for transferring money, re-allocating assets or creating income-distribution pools to help elderly people qualify for Medicaid without becoming impoverished.
And, when competency or undue influence is a concern, your lawyer can help you establish a guardianship or powers of attorney to protect your loved ones from those who might take advantage of them.
More About Estate Planning
A person borrowing money to buy a home assumes the loan is secured by the mortgage lien on the house. In the event the h... Read More
If you fall behind on your mortgage payments, your house might end up in foreclosure. However, there can be good defense... Read More
How It Works