Questions asked and answered from our last workshop!
Apr 1, 2015
I have elderly parents with modest assets. Is it possible to protect any of those assets?
What is the financial impact of parents moving into my home for care? Do I have liability as their Power of Attorney? Is it possible to use Veterans Benefits for their care in my home?
What is the criteria for a disabled child (exempt transfer)? Can I transfer assets to a disabled child without a Medicaid eligibility penalty?
My mom is 87 years old and she is $600 short each month after paying for care. Should I sell her house?
Can I do IRA planning to minimize taxes and maximize benefits to my heirs?
What are the tax consequences of transferring $50,000 as a gift in a single year?
In the many powers of attorney I see in my line of work, one problem recurs over and over again. And it’s costing families tens of thousands, and even hundreds of thousands, of dollars in asset protection. The number one problem is inadequate gifting provisions. If...
If you need some clarity on what exactly a "durable power of attorney" is, and why it's important to have one, watch the short video below. Here I give you my thoughts on what can happen if you don't have power of attorney, and...
Fundamental to the validity of any last will and testament is that the testator (person whose will it is, and who is signing the documents) had capacity at the time of execution. By statute, a testator in Pennsylvania must be “of sound mind” to make a will. (20 Pa....
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.
