Dear Mr. Di Costanzo: Can Medicaid take my home if I get sick? If you fall ill, you may seek Medicaid benefits to help pay for your care at home or in a nursing home. If Medicaid begins paying for care, Medicaid can try to recoup what it has paid on your behalf either by…
Dear Mr. Di Costanzo: Why do I need a Will or Trust if all my accounts have designated beneficiaries? Beneficiary designations are extremely important and one of the most overlooked tools in an estate plan. For certain assets, such as retirement accounts, the lack of a designated beneficiary can cause adverse tax consequences. One…
Dear Mr. Di Costanzo: Can I act under my father’s power of attorney after he dies? One of the most important estate planning documents one can prepare is a power of attorney. It allows you to appoint someone else, your agent, to a handle your financial matters. All powers of attorney are durable, meaning that…