Longtime Partners but Never Married (Part 2)
In my post last week I began to tell you about Bill and Mary. Partners for 50 years, they never actually tied the knot. Bill had a stroke and they are now faced with $14,000 per month in long term care expenses. The home they live in is owned by Bill. Mary is not
Long Time Partners but Never Married
A recent call we received started with an increasingly common problem. Mary had called because her partner, Bill had a stroke which landed him in the hospital. He failed to make enough progress to be able to go home and would need to stay in a long term care facility. Mary told me
Medicaid When a Spouse Owns a Business – Part 2
In my blog post last week I wrote about a more frequent scenario we are seeing with married couple Medicaid applications. It’s one in which one or both spouses own a business from which they derive income. As I explained last week, Medicaid allows the healthy spouse to keep a certain amount
Medicaid When a Spouse Owns a Business – Part 1
If you are a regular reader of this blog you know that in the case of a married couple where only one spouse is applying for Medicaid, the healthy spouse, known as the community spouse, is entitled to keep a certain amount of countable assets. The assets of both spouses are
The Importance of Updating Your Will – Part 2
In last week’s post, I talked about two recent estate administration cases in our office. In each instance the decedent left a will but no living executor was available to serve. In the first case, the two children who inherited the estate equally were not named because at the time the will