Are your assets protected? Double Check!!
By Christina Drumm-Boyd, CEO, Care Connect of Hampton Roads – 5/26/2020
While I am not an elder law or estate planning lawyer, I would like to take the time to point out that our senior care firm does assist directly with Medicaid case management as well as with obtaining needs-based benefits through the Department of Veterans Affairs.
It is very disheartening to meet with a client in Virginia Beach, Norfolk, Chesapeake, Newport News, Hampton, Portsmouth, Suffolk, Williamsburg, and throughout Hampton Roads who is under the impression that their assets have been neatly protected inside an assets protection trust or what is also referred to as an irrevocable trust, only to discover that, none or only some, of their assets were re-titled to the actual trust and therefore will be countable for both Medicaid and Veterans Pension Benefits.
The lawyers who draft and execute our senior care client's estate planning documents work directly with us to ensure that the trust is fully funded.
Discovering that your assets have not completed a federal transfer penalty period IS NOT ideal.
If you have an existing trust, confirm what is actually in it and also confirm that it meets your needs as you begin to look towards retirement and the possible need of long-term care in Virginia Beach, Norfolk, Chesapeake, Newport News, Hampton, Portsmouth, Suffolk, Williamsburg, and Hampton Roads.
If you do not yet have a trust, be sure to find out how a trust may be of direct benefit to you now and in the future.
For a confidential consultation, please contact us at (757) 271-4270 or cdboyd@careconnecthr.com.
About Care Connect of Hampton Roads
Christina Drumm-Boyd is a VA Accredited claims agent. She and the staff at Care
Connect of Hampton Roads are experts at providing care for seniors, care for
elderly, nursing home care, long term care, home care, senior care, eldercare,
care for mom, care for dad, assisted living, alzheimers, dementia, adult day
care, help with senior care, nursing care, elderly care, elder care planning,
geriatric care manager, geriatric case manager, caregiver, in home care, long
term care, and caregiver support for the elderly in Virginia Beach, Norfolk,
Chesapeake, Newport News, Hampton, Portsmouth, Suffolk, Williamsburg, Hampton
Roads, North Carolina, Currituck, and the Outer banks. Christina Drumm-Boyd
is a certified senior advisor who can help with medicaid rules, VA benefits,
VA pension, medicaid, medicare, veterans benefits, aid and attendance pension,
veterans aid and assistance, veterans aid and attendance, power of attorney,
guardianship, advanced medical directive, will, conservatorship, paying for
nursing home care, paying for long term care, legal advice for seniors, elder
law, asset protection, estate planning, long term care insurance, health insurance,
life insurance, and annuities.