Medicaid is an important but complicated benefit program. When facts mix with fiction, confusion creates troubling misconceptions. These are some of the myths we often hear about Medicaid, and their facts.
While you are still grieving your loss, you may be inundated with letters and phone calls from debt collectors. Even if your loved one was current on all of his or her debt obligations, creditors want to get to his or her estate and family members as soon as possible.
Leaving property to charity builds a lasting legacy. You may also receive tax benefits for your gift. However, you should take steps to ensure your kind act is accomplished as you intended. Here is what you need to know.
Do you have the right to direct what happens to your gift in the future?
You have a special right as a donor. You not only can dictate what happens to your assets immediately after your death, but also far into the future. Do you want to be sure the Edward Hopper painting is enjoyed by future generations at your town’s small art museum? You can put restrictions on the sale of the piece. Do you want your land enjoyed as a public park? You can forbid development of the property in perpetuity. In order to preserve your intentions, you should include clear language that specifically directs its use.