When doing your estate planning, you may come to realize that certain heirs may need more restrictions placed on their future inheritances. While spendthrift trusts won’t be needed by every estate planner, they can come in handy for heirs who struggle with money...
Maryland Estate Planning Law Blog
2 types of assets you must know for Medicaid planning in Maryland
You sit at your kitchen table, surrounded by your parent's financial documents, and wonder which assets will affect their Medicaid eligibility. This confusion is common when you navigate long-term care planning for your elderly loved ones. Hence, understanding how...
McDonald Law Firm acquires Frank, Frank & Scherr, LLC
Frank, Frank & Scherr, LLC has offered client-focused estate planning and elder law services for more than 30 years. The firm has many clients who rely on its lawyers for guidance when they create estate planning documents, revise their existing paperwork or act...
What makes a durable power of attorney distinct?
Every person creating an estate plan has different needs. They have the option of creating numerous documents based on their family circumstances and personal resources. People creating their estate plans also typically need to think about emergency scenarios where...
Understanding guardianship and power of attorney in Medicaid
When a loved one cannot make decisions, you often need to help with the Medicaid application. You may act as a guardian or as a person with power of attorney (POA). The type of authority you have can affect how quickly the process moves and how difficult it becomes....
How estate planning can reduce or avoid Medicaid estate recovery
Many people will likely need skilled nursing care at some point as they age, whether it’s for short-term rehabilitation or a long-term stay. Unfortunately, few people plan for it. Medicaid helps pay for long-term care in some situations, but eligibility criteria...
Is it time to update your estate plan?
If you have an estate plan, it is excellent that you have taken steps to give your family guidance when it comes to distributing your assets, determining what type of medical care you need and things of this nature. Drafting a plan well in advance can help to avoid...
Using life insurance to fund a special needs trust
Worrying about a special needs family member is natural. Parents, grandparents and even siblings may want to take steps to ensure that a family member with special needs has financial support for the rest of their life. A special needs trust that addresses long-term...
What is testamentary capacity?
When drafting or modifying an estate plan, a person must have testamentary capacity. This generally refers to their ability to understand what they are doing, the legal choices they’re making and the impact of their decisions. They must be of sound mind, intentionally...
What you need to know about long-term care planning in Maryland
The phrase "long-term care" can feel overwhelming at first. Maybe you have watched a loved one struggle to find the right support. Perhaps you wonder what your own future holds. These concerns are completely natural. Yet planning for long-term care is one of the most...
