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Posts Tagged ‘long-term planning’

Executor vs. Power of Attorney: What’s the Difference, & Can They Be the Same Person?

In your estate planning, you’ve likely heard the phrases executor and power of attorney. You may be wondering what each of these terms means, and whether or not someone named as your executor can also be named power of attorney.   What Is an Executor? An executor is someone chosen to carry out the conditions set out in your will. This individual is often a family member or trusted friend that you think can handle the responsibility and can stay organized through the process. Your executor will be responsible for making sure any debts that remain after your death are…

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What Is Estate Planning, & Why Is It Important?

You’ve heard the term “estate planning” thrown around by family, friends, and news reports, but you don’t quite know what it all means and why it’s so important. Is estate planning just making sure you have a will written out or are there other aspects to the process? And, if you’re still young, do you need to worry about estate planning yet?   What Is Estate Planning? Estate planning is making plans about who will receive your personal items – cars, house, financial assets – in the event of your death. Additionally, designating who will care for your children, finding…

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How Can an Elder Law Attorney Help With Medicaid Planning?

Medicaid planning can be a complicated process no matter how familiar you are with dealing with medical coverage. The rules surrounding Medicaid eligibility and how to get the most out of your coverage are often hard to navigate. You may not know who to trust to advise you as you or a loved one go through this time of life. An elder law attorney is experienced at guiding clients through the process of Medicaid planning. Navigating Eligibility Guidelines Filing an application is not the only part of qualifying for Medicaid. You are only eligible to receive Medicaid after meeting certain…

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