Estate and Asset Protection Planning is a process of organizing your assets to provide you control of your affairs, not only while you are healthy, but in the event of mental or physical infirmity. Planning allows you and your family the opportunity to manage assets in ways that maximize their benefits for you and your loved ones.

As we age, it becomes more important to prepare for the preservation and protection of our estates, as well as plan for the timely distribution of assets after death. Through thoughtful and reasoned Estate & Asset Protection Planning, you retain control over your financial future.

Medical Assistance (MA) will pay nursing home expenses in excess of your monthly income if you have no assets or your assets are “unavailable” such as three years after they have been placed in your Seniors Family Trust. Two of every three nursing home residents receive MA.

Yes. The care is the same or better than for “private pay” patients. Nursing homes by law cannot discriminate between “private pay” and MA patients in the care given or charges made.

Yes. Transfers to benefit family members are ideally done three years (36 months) before you or your spouse enter a nursing home or apply for Medical Assistance. However, we at Estate Crafters have used temporary and permanent exemptions, split interest transfers, and special valuation gifts woven into a financial plan or a Seniors Family Partnership™ to preserve most, and sometimes all, of one’s estate for loved ones, even when a nursing home stay appears imminent or inevitable.

Before a crisis, while you’re still active and vigorous, ideally 5 years or more before you become incapacitated. However, Estate Crafters regularly helps families with an elder member about to enter or already in a nursing home. Call us with your situation.

No. Not if carefully made. Gifts are not voidable unless an MA application is made within the "penalty" period. Families have been coming to Estate Crafters for over 18 years to advantageously plan their finances within the law in the event of incapacity. We protect your assets from the "Spend Down" Rule like your CPA protects your income from income taxes.

Yes. The younger we are the less likely we’ll need nursing home care within the next three years.
Yes. Healthy younger folks often like to have their “Asset Protection” plans in place and then receive all the income from their Seniors Family Trust even though they’re well and live independently. Once their Seniors Family Trust is 3 or more years old, no “Spend Down” is required upon entering a nursing home.
Yes. Should a nursing home stay be required, a Seniors Family Trust will pay out its income to the “at home” or “community spouse”.
Yes. Careful investing by the trustee can reduce or eliminate asset shrinkage. Sometimes the assets grow when wisely managed.

Yes. We encourage adult child(ren) and loved one(s) to come along, ask questions and learn about this complex ever-changing area of the law. The goal of the Family Consultation, is to empower you and your family to make a knowledgeable decision concerning which asset protection strategy best suits your family’s needs and goals.

A POA cannot authorize the Attorney-In-Fact to make medical decisions. You must name an agent in your Healthcare Directive, POA or “Living Will” to do this. A change of residence is also beyond the scope of a POA. A POA contains no asset distribution plan. It’s not a substitute for a will or trust. Also a POA won’t protect one’s estate against exhaustion from nursing home expenses.

If you have any real estate in another state, bring this to our attention. Separate and costly guardianships could be required in each state without proper planning. A “Common Law” POA, however, could avoid such problems.

Yes, a POA may be revoked by the principal at any time. A POA only becomes permanent if the principal becomes incapacitated.

Your Agent, Attorney-In-Fact or A-I-F should be a person you trust with your money. Married persons typically name their spouse first and trusted adult children second, third, etc. You may also name a friend or a bank with trust powers.

Whatever financial powers the person chooses to give his/her Attorney-In-Fact. Just about any type of transaction may be covered: real estate, securities, banking, insurance, even gifts. A POA can be drawn narrowly for just one transaction or broadly to cover virtually all of one’s financial affairs for life.

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