Medicaid Planning for Long-Term Care: Protecting Your Assets While Qualifying for Benefits
Posted on February 16, 2025 by shieldsandboris
Long-term care costs are extraordinarily high. They are one of the biggest threats to your assets. According to data cited by the U.S. Health News, the average cost of a semi-private room in a nursing home is nearly $10,000 per month. The good news is that Medicaid can provide coverage for long-term care. The bad news is that Medicaid only provides coverage to those with limited assets.
Understanding Irrevocable Trusts: A Comprehensive Guide to Estate Planning
Posted on January 6, 2025 by shieldsandboris
Trusts are an effective estate planning tool for many people and families in Pennsylvania. There is a common misconception that trusts are truly only useful for the very wealthy. That is simply not the case. Middle-class families can benefit from trusts. Irrevocable trusts are a specific category of trust that offers a number of different estate planning benefits.
Tax-Efficient Estate Planning: Strategies to Preserve Your Wealth
Posted on December 14, 2024 by shieldsandboris
Do you have a comprehensive estate plan in place? Many people do not. Indeed, half of U.S. adults over 50 lack a will—let alone other estate planning documents (AARP). Estate planning is a crucial step to protect yourself, your family, and your finances. At The Elder Law Offices of Shields & Boris, we are leaders in wealth preservation and asset protection. Here, our Pennsylvania estate planning and elder law attorneys provide an overview of strategies to preserve your wealth.
The Importance of Updating Your Estate Plan: How Life Changes Affect Your Assets
Posted on November 9, 2024 by shieldsandboris
A will should be updated to adjust to life’s ever-changing circumstances. At The Elder Law Offices of Shields & Boris, we are a top elder law and estate planning law firm. Our team is focused on empowering people and families so that they can best achieve their goals. Here, our Pennsylvania estate planning attorneys explain how keeping your plan up-to-date can protect your rights and your interests.