John and Mary have a house worth about $500,000.00 and about $300,000.00 in a bank account. Paul & Sue also have a house worth about $500,000.00 and about $300,000.00 in a bank account. Neither couple have long-term care insurance. Thus, they start off in the same place. However, Paul and Sue decided to place their … Continue reading “Some More Thoughts on Medicaid Asset Protection Trusts”
Category: Living Trust
Can Someone Who Has Dementia Sign Legal Documents?
Maybe. In order to sign legal documents in New York, the individual must have legal capacity. Being able to sign one’s name is not sufficient to have legal capacity. The person must understand the document that he or she is signing. As you will see below, different documents have different criteria for the determination of … Continue reading “Can Someone Who Has Dementia Sign Legal Documents?”
Five Major Mistakes That People Make regarding Their Estate Plans
Doing Nothing John and Mary were happily married for 30 years. John loved Mary very much and he intended to draw up a Last Will and Testament. Unfortunately, he never got around to it and passed away without having one. John had an account in his sole name worth $300,000. If John had had a … Continue reading “Five Major Mistakes That People Make regarding Their Estate Plans”
