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Can Medicaid take my house?
Can medicaid take my house? Medicaid is a government program in the United States that provides healthcare coverage for low-income individuals and families. It is jointly funded by federal and state governments, and each state operates its own Medicaid program within federal guidelines. Medicaid eligibility is based on income level and other criteria, and it covers a wide range of medical expenses for those who qualify. One concern that arises for many Medicaid applicants, especially in Ohio, is the potential impact on their assets, including their home. Medicaid eligibility rules vary by state, but generally, Medicaid does not directly take away a person’s home while they are alive and living…
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What is a trust?
What is a trust? “What is a trust?”, is one of the most commonly asked and searched for estate planning questions. A trust is a powerful legal arrangement designed to protect and manage assets for the benefit of individuals or families. A trust is operated under the guidance of a trustee, who ensures that the assets are used according to the wishes of the person who established the trust (the settlor). Trusts offer numerous advantages, primarily centered around their ability to provide long-term financial security, flexibility, and certainty. One benefit of a trust is that it can ensure assets are safeguarded and managed effectively, even after a person passes away.…
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Why do I need a health care power of attorney?
Why do I need a health care power of attorney? A healthcare power of attorney is a legal document that allows an individual to designate someone else to make healthcare decisions on their behalf in the event they become unable to make or communicate those decisions themselves. Giving this power to someone else is a daunting thought, but we will explain why you need a health care power of attorney as part of your estate plan. In short, this document is essential because it ensures that your medical decision making is intentionally put in the hands of a person you trust to make the decisions that you would want. We…
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What is a will?
While a very common term, many wonder exactly what is a will? A will, also known as a last will and testament, is a legal document that outlines a person’s wishes regarding the distribution of their assets and winding up of affairs after death. It allows individuals to specify who will inherit their property, money, and possessions. A will can also address other important matters such as guardianship of minor children, funeral arrangements, and any specific charitable donations or bequests the individual wishes to make. Put simply, a will serves as a roadmap for how a person’s affairs should be handled after their death, providing clarity and legal authority to…
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Coming soon!
