The Top 10 Estate Planning Mistakes and How to Avoid Them

1. Procrastination. Most everyone is aware that it is important to have an estate plan. Far too often however, they do nothing about it. While no one likes to think about their own mortality or the prospect of becoming disabled, you can only plan before these events occur. Solution: Schedule a meeting with a qualified estate planning attorney to discuss your situation. 2. Not Having a Will. Most people do not even have a basic will. A will is very helpful in nominating who will be responsible for administering your estate and how your estate assets will be distributed after the payment of your funeral, medical and other expenses. Solution: Schedule a meeting with a qualified estate planning

Reduce Your Odds of Dementia

If you’re like most people, you shudder at the thought of getting Alzheimer’s, yet you probably are unaware that you may be able to reduce your chances. According to a recent article in the Los Angeles Times (“Eight things you can do now that might reduce your odds of dementia later”), what is good for the body is good for the brain. Here are some of the recommendations: Stay active – increasing your oxygen supply through physical activity may also help your brain. Eat well – Eating well can impact how you think and the smart money may be on a Mediterranean diet. Don’t smoke – smoking in middle age can double your odds of developing dementia. Sleep well – sleep is vital for your brain. Avo

The Future of Long Term Care

Adults are living longer and one of the many concerns facing seniors and their families is how to age well. In a recent article from Forbes titled "Long Term Care: Navigating The Decade Ahead", author William Haseltine outlines some of the challenges we will face as our healthcare system and society struggle to keep pace. The traditional long term care model is no longer viable. Care that focuses on the individual, that gives a person the support they need for a better quality of life is proving to be much more successful. There are many challenges ahead for this shift in care and it most certainly will require planning ahead. As the author stresses in his article, we all want "healthy agin

Medicaid Figures for 2020

Every January, the Michigan Department of Health and Human Services (MDHHS) releases updated figures for Medicaid qualification. Occasionally, there are not any increases in the Medicaid figures just as in some years there is not a cost of living increase for Social Security benefits. For 2020, just as Social Security recipients received a slight increase, MDHHS has also increased its Medicaid figures. The maximum spousal share is the maximum amount of countable assets the at-home spouse is allowed to keep. For 2019, the amount was $126,420. For 2020, the maximum spousal share is increased to $128,640. This means that if a married couple has $257,280 or more in countable assets, the at-home

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The Elder and Estate Planning Law Firm

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