Estate Law Pittsburgh, PA
Although estate planning includes topics likes wills, trusts, health care directives, and powers of attorney it is a much broader field. It is important not only to make sure that your assets are distributed according to your wishes after death, but to protect those assets while you live. A good estate plan assures that should incapacity occur, you have made provision for your family’s financial security. This is something that should not be a last minute affair.
An experienced estate law or elder law attorney can assist you to minimize your tax burden and eliminate probate costs by setting up a living trust. Guardianship of minor children in the event of your incapacity or death can be decided. The intricacies of long term care for you or a loved one need to be explained. Today a nursing home can charge well over $7000. a month. It is important to understand what assets a spouse can retain if your funds are depleted, and Medicaid assistance becomes necessary. Medicare covers only a percentage of the first 100 days of care if you enter a nursing home directly from a hospital. Medicaid does not cover assisted living arrangements. Long Term Care Insurance can be a viable answer. There are different types available, and it is something that you might wish to go over with your attorney.
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