Dear Attorney Tully: When is the best time for an individual to do his will and/or estate planning? I am a 63-year-old, divorced man with three adult children. I have a few minor health issues, but am otherwise in pretty good health. I have beneficiaries under my IRA and my insurance policies, and I have joint checking and saving accounts with my …
Estate Planning and Probate
Basics of Medicaid: What you can keep and what you cannot
In order to understand Medicaid qualification, you first need to know how Medicaid treats your assets. Basically, Medicaid breaks your assets down into two separate categories. The first are those assets which are exempt and the second are those assets which are non-exempt or countable. Exempt assets are those which Medicaid will not take …
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D’Ascenzo’s death is a reminder of the fragility of life
The tragic and untimely death of TV news personality Denise D’Ascenzo points out the fact of how fragile life can be. Denise was a presence in our homes on the nightly news for decades. Many of us felt like she was a trusted friend. She will be sorely missed. Denise’s death is a reminder that it’s never too early to do estate planning. We …
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Holidays may bring realizations within family
The holidays are, for most people, a combination of tradition, nostalgia, stress and joy. We work hard preparing for our holidays, from finding just the right gift for a child to squeeze, to card-sending and traditional baking in-between open houses and business obligations. On top of the holiday celebrations, it’s also the time of year for …
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Parents have a case of the ‘I’m gonna’s’
A client of mine recently said that his parents have a bad case of the “I’m gonna’s.” Many times they talked about protecting their home and assets, but never did anything. They said, “We’re going to do the planning,” but didn’t. I saw the look of frustration on my clients’ son’s face. He was facing the terminal illness of his father and …
