Dear Attorney Tully: I am terrified. My husband and I are probably younger seniors than you see in your practice, but my husband is very sick and in a nursing home for long-term care. I’ve been told I have to spend down almost all of our savings, including my IRA, in order for him to qualify for Medicaid. Is this true? ANSWER: Not …
Archives for June 2023
Planning and Asset Protection Post COVID
Philosopher George Santayana noted, “Those who cannot learn from history are doomed to repeat it.” Both state and federal officials have announced that the public health emergency – Covid - is over. While we are all thankful for that announcement, many seniors are still contemplating their next step in protecting themselves and their …
Denying and Delaying May Cost You
The shock of a loved one being diagnosed with dementia or Alzheimer’s is not always easy to understand or process. Tallula Willis, the youngest daughter of action movie star Bruce Willis, admitted the same in a recent issue of Vogue magazine. The 68-year-old Willis made his diagnosis of frontal temporal dementia (FTD) public in March 2022. Mr. …
10 Reasons to Create an Estate Plan Now
Many people think that estate plans are for someone else, not them. They may rationalize that they are too young or don’t have enough money to reap the tax benefits of a plan. But as the following list makes clear, estate planning is for everyone, regardless of age or net worth. Loss of capacity. What if you become incompetent and unable to …
