This page about frequently asked questions in estate planning and elder law by Michigan estate planning and elder law attorney Nicole Wipp and the Family and Aging Law Center is not legal advice. It is for informational purposes only. For legal advice on your situation, consult with a qualified elder law attorney.
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Estate Planning and Elder Law Attorney Nicole Wipp
Estate planning and asset protection isn't just for wealthy people, and it isn't just for the elderly. Planning is for families. It is also important to know that planning isn't just about death - at least not in our office. Planning is about YOUR life, and it can make all the difference in the quality of life you may have in the future.
For additional topics and information, head over to the Family & Aging Law Center Blog!
The following questions reflect just a few questions our clients commonly have.
Q: I’ve been told that if either of my parents needs nursing home care, we have to spend all of their money. Is this true? Can we legally protect some of my parent’s money?
A: The answer is, without a proper, legal plan, you do have to engage in what is called a “Spend Down.” How much your parents are allowed to keep ... click here to read more.
Q: Every time I go to the doctor, they ask me if I have a health care power of attorney. I understand why that’s important, but now I’m hearing that I also need a financial power of attorney (financial POA). My family member is joint on everything, so why do I need one?
A: The short answer is, you need a financial POA in the event that you become unable to manage your own finances. Even though you may think you have... click here to read more.
Q: I called the VA and was told my dad doesn’t qualify for Veteran’s Improved Pension, but someone else told me they heard he might qualify, even if they said he doesn’t. How do I go about getting the right answer?
A: Improved pension is also known as “Aid & Attendance,” and it pays up to ....click here to read more.
Q: What Is a Revocable Living Trust?
A: To explain revocable living trusts, or RLT’s, I like to use an analogy. Let’s say you’re a child, and have a little red wagon. You take your Barbies, your G.I. Joes, your toy cars, and you put all of them in ...click here to read more.
If you, or a loved one, have questions or need help; call us today (248) 278-1511.
The information in this blog is not intended to be, nor should it be, construed as legal advice. It is for informational purposes only. For advice, specific to your situation, consult with a qualified attorney.