Frequently Asked Questions
As you're surfing around our web site, we know that you have many questions swirling in your head.
Matters related to planning for the future can be complicated! Especially if this is the first time you've had to dig into it.
We understand it's not easy. That's why we've compiled this list of the most common questions we hear from our clients.
We hope you will find your answers here.Taxes and Gifts
- How much can I gift to my children without paying gift tax?
- Should I transfer my home to my children?
- What's the difference between Medicare and Medicaid?
- What will Medicare cover at the nursing home?
- How do I qualify for Medicaid?
- Is it ok to give away my assets? Are there penalty periods?
- What is meant by "spending down" for Medicaid eligibility?
- What is the Medicaid "look back" period?
- Does Medicaid pay for homecare?
- What is the difference between a Will and a Living Will?
- What is a living trust and do I need one?
- What's the difference between a Will and a living trust?
- What's the difference between a irrevocable trust and a revocable trust?
- What is a power of attorney?
- What's the difference between a power of attorney and a durable power of attorney?
- What are advanced directives?
- How do I leave money to an irresponsible child?
- What is a special needs trust?
- What is a supplemental needs trust?
- What's the difference between a special needs trust and a supplemental needs trust?
- Who are the 3 parties in a special needs trust?
- What can special needs trust funds be used for?
- Who should I choose as trustee for a special needs trust?
- What is the ABLE account?
- What are the steps in the probate process?
- What is the probate fee and how long does probate take?
- Do joint accounts have to go through probate?