In our regularly updated blog, we discuss a wide range of topics of interest to Michigan seniors and their families. Learn what estate planning documents are essential in case of incapacity due to illness or injury, why you might benefit from creating a trust, how to use Medicaid benefits to pay for long-term care needs, and much more. To discuss your specific concerns, please contact our office to request a free initial consultation.
- Page 19
-
Trusts and Estate PlanningA trust is a legal document through which you can transfer assets before and after your death. There are four components to the trust process: Grantor- the person who creates the trust (sometimes also called a settlor or trustmaker) Trustee- the person who handles the trust before and after your death, and is responsible... Read More »
-
Long-Term Care Premiums Going Up, Up, UpAs a Michigan elder law and Medicaid planning attorney, I am always looking for alternatives to paying out-of-pocket for nursing home care. One of those alternatives is long-term care insurance. For those of you who have purchased long-term care insurance, keep an eye on your mailbox — a large premium increase may be on the way.... Read More »
-
Dispelling Two Common Money Myths1. It’s best for one member of the household to manage the finances. It’s not uncommon for one person in a household to be the one who pays the bills and manages all the accounts. Some people don’t necessarily enjoy being involved in the finances, so by default, one person shoulders the responsibility. While this... Read More »
-
How to Qualify for Medicaid Without Losing your Home or Life SavingsMedical coverage will probably become increasingly important for those who are entering their retirement years. For many seniors, Medicare helps pay for their standard medical expenses. This coverage, however, does not extend to certain kinds of necessary long-term care. Under these circumstances, individuals 65 and older often turn to Medicaid in order to pay for... Read More »
-
Check Out Our New Elder Care Whiteboard Videos!We have spoken at hundreds of events over the years about Michigan Estate Planning, Elder Law and other senior issues. Whether we are talking to seniors, business organizations, government offices or other groups, there is one common comment we get: “We understand you. You actually speak in plain English, not like most lawyers”. We have... Read More »
-
Travel Tips for SeniorsReaching your retirement years can be a time when you have the freedom to travel and enjoy exploring new destinations. You may want to take these trips with a spouse, a group of people, or on your own. The good news is that whatever your preference, today’s seniors have several appealing travel options available to... Read More »
-
The Power of Attorney: Is it the Right Tool for You?When planning for your estate, it is essential that you designate where assets will go and make your final wishes known. However, what is equally important is that your estate plan includes designations as to who can make medical and financial decisions in the event you are unable to do so. Without these designations in... Read More »
-
The Duties of a ConservatorWhen someone experiences impaired cognitive functioning, it can interfere with multiple aspects of their lives. One area that this can have a particularly destructive impact on is their finances. In some cases, the individual’s condition may be so severe as to warrant legal intervention to protect their funds and property. In such a situation,... Read More »
-
Finding Fulfillment in Your Golden years: Why more Adults Over 55 Continue to WorkAccording to the Bureau of Labor Statistics, upward of 40% of people aged 55 and older are continuing to work past the normal retirement age. There are a number of reasons why people are choosing to stay employed, with one of the biggest being a lack of retirement funds, but some are also using work... Read More »
-
The Duties of a GuardianWhen an individual is no longer able to care for their personal needs or make medical decisions, it may be necessary to have a guardian appointed to take over these responsibilities. Taking on the guardian role is a serious undertaking and the person serving in this capacity will have specific duties to the individual. What... Read More »
-
What if a Personal Representative Does not Have a Will?When selecting someone to be the personal representative of your estate, you ordinarily would give the matter a great deal of thought and then select someone who you trust to carry out your wishes. After someone passes, their estate will have to be administered by their representative. Depending on circumstances and how the estate plan... Read More »
-
3 Ways to Recover From a Cold FasterWe’re in the middle of cold and flu season. During the winter months, these common illnesses can spread like wildfire. As we get older, these illnesses can last longer and be more severe as our bodies work hard to fight off the infection. To add to the challenge, these types of illnesses can be hard... Read More »