Nelson Elder Care Law
Estate Planning, Probate Administration & Elder Law Blog
Medicaid recipients over the age of 55 are expected to repay the government for many medical expenses—and states will seize houses and other assets after those recipients die, in order to satisfy the debt.
As parents age, families sometimes struggle with how to best keep their parents’ financial affairs in order. One common approach is for aging parents to put one or more of their children on their investment accounts, bank accounts and real property.
When the ‘Queen of Soul’ Aretha Franklin died last year, it was believed that she hadn’t prepared any kind of estate plan, including a last will and testament. However, a few months ago, three handwritten wills were found in her home near Detroit. Two were in a locked closet and one was stuffed beneath the cushions of a couch!
Two of the most widely used deeds in real estate are quitclaim deeds and warranty deeds. Keep reading to learn about these two types of deeds and how they work—and what’s at stake if you choose the wrong one.
Many seniors wind up retiring in the same place they lived during their working years. If the city or town you lived in throughout your career is filled with amenities, family members and friends, then you may want to stay put during your golden years.
If elderly parents aren’t good at record-keeping, a family member will need to identify this information and keep it in a place where it can be referenced when needed.