Salines-Mondello Law Firm, PC

Who can serve as my health care agent?

 

CLICK THE LINK TO WATCH THE SHORT VIDEO Any person over the age of 18 can serve as a heath care agent under a health care directive, a health care power of attorney or health care proxy. The question is, who is the best person to serve as your health care agent? If you name your children and they don't get along, then there may be an issue. The court may have to step in and name a health care guardian. If you name your spouse, and the spouse doesn't get along with your children, again there may be an issue. Your health care power of attorney, also called a health care directive, should state how you want things handled in the event that you become incapacitated, whether you have a terminal illness or a temporary illness and what your feeling are to life support.

Would a revocable living trust provide protection for my assets?

 

CLICK THE LINK TO WATCH THE SHORT VIDEO A revocable living trust isn't typically used for the protection of assets. Rather, it's used for probate purposes in order to streamline the probate process or eliminate it. It is also used in order to protect assets for the next generation, so that assets in a revocable trust aren't used for the creator's protection of assets, but rather for the heirs, who they leave the assets to and how long they want to leave the assets in the trust so that they are protected for their children, perhaps, their spouse, and or their grandchildren.

What is the penalty period with Medicaid?

 

In North Carolina, the penalty period is determined at the time of application, simply looking at the amount of money that was transferred for less than fair market value. Taking that amount of money and putting it into a calculation will tell us how many months that Medicaid will not pay for the person's nursing home care. That penalty runs from the time the person is otherwise eligible which means they have to have less than $2,000 in assets and they have to need the care being applied for.

 

Would a revocable living trust provide protection for my assets?

 

A revocable living trust isn't typically used for the protection of assets. Rather, it's used for probate purposes in order to streamline the probate process or eliminate it. It is also used in order to protect assets for the next generation, so that assets in a revocable trust aren't used for the creator's protection of assets, but rather for the heirs, who they leave the assets to and how long they want to leave the assets in the trust so that they are protected for their children, perhaps, their spouse, and or their grandchildren.