Wise use of an irrevocable trust can be a powerful way to protect assets as one gets older. One use is to avoid the need to spend down assets in order to qualify for certain benefits, such as veterans benefits and Medicaid. But why use a trust? Why not just give the...
If you die without a will, the state will say who gets your estate. In Pennsylvania, where I practice, the state has a set of rules for what’s called your “intestate estate.” (Our rules are similar to those in other states, but check the law where you live.) But...
Whether or not there is a probate estate, title can be passed to others by submitting the right forms with the Pennsylvania Bureau of Motor Vehicles. (Procedure in other states may be different.) Form MV-39 contains detailed instructions on what you will need to...
A Medicaid applicant’s spouse shouldn’t become impoverished, according to federal law. One protection for the spouse is the community spouse resource allowance. (Another is the monthly maintenance needs allowance (or MMNA) which you can read about here.)...
“Irrevocable.” That word concerns many people, despite the effectiveness of irrevocable trusts in protecting assets and avoiding probate. It’s true that, in general, an irrevocable trust cannot be entirely undone by the person who created it (called the...
The founder of Sykes Elder Law, Andrew Sykes is recognized as a leading elder law authority in Pennsylvania. He is a Certified Elder Law Attorney with over 20 years of experience helping clients with estate planning, estate administration, and Medicaid planning.