Can I Transfer My Grandmother’s Car to My Name Without Causing a Medicaid Penalty Period?

An elder law attorney suggested the purchase of a vehicle as a way to protect some of my grandma’s assets. While this would be excluded during the Medicaid spend-down, what can we do to prevent the car from being taken by estate recovery after she passes? I was told to do a title transfer from her name to mine after she is qualified for Medicaid. Is it really that simple?

Why Financial Planners Need to Understand Modern “Irrevocable” Trusts

By Bakalar & Asociates, PA Many financial planners have been ill advised regarding the modern benefits of Irrevocable Trusts.  Traditional Irrevocable Trusts pose several historical problems which include: 1.         Requirement for a new EIN number from the IRS for income …

If You Haven’t Been Regularly Reviewing Your Estate Plan, Start When You Hit 60

By Susan P. Bakalar, Esq. and Raymond A. Piccin, Esq. It is a very good idea to create advance directives in order to plan for the possibility that you may one day be unable to make your own medical decisions. …

Discovery of Aretha Franklin’s Handwritten Wills Throws Her Estate Into Turmoil

By Susan P. Bakalar, Esq. and Raymond A. Piccin, Esq. Legendary singer Aretha Franklin was thought to have died without a will, but the recent discovery of handwritten documents in her home are calling that into question. A representative of …

So, You’ve Been Appointed Trustee of a Trust? Here Are 9 Do’s and 1 Don’t

By Susan P. Bakalar, Esq. and Raymond A. Piccin, Esq. Whether it’s an honor or a burden (or both), you have been appointed trustee of a trust. What responsibilities have been thrust upon you? How can you successfully carry them …

Choosing the Right Power of Attorney

By using a power of attorney, it allows you to appoint an individual who you trust to act as your agent or “attorney-in-fact.” In most cases, it is used so that they have the ability to handle financial matters if …