Trusts are common legal arrangements that, in their simplest forms, allow money or property to be set aside for the welfare of a person. While trusts are most commonly associated with wealthy people transferring assets to their children, trusts can serve a variety of purposes that have little or nothing to do with transferring inherited wealth. One of the most useful trusts for people living in Georgia is the "special needs trust."
The Individuals with Disabilities Education Act is a federal statute that was passed in 1975 with the goal of ensuring that certain categories of impaired children were given necessary assistance with learning disabilities. While the goal of the act is laudable, the procedures that are necessary to qualify a child for benefits can be complex.
Elderly Georgia residents hear many confusing terms about planning for a disabling or terminal illness and the disposition of their property on death. One of the most confusing questions is the difference between a living will and a last will and testament. Understanding this distinction can be the difference between removing a significant source of stress from a person's later years and facing increasingly difficult questions about disposing of a person's assets in a manner that precludes divisive arguments between descendants about the division of an elder relative's assets.
Previous posts here have stressed the importance of solid planning when it comes to nursing home care. Those plans typically include efforts to enroll in Medicaid coverage. However, not everyone will be eligible to enroll in Medicaid, but many will still encounter the need for some type of long-term or nursing home care in life, usually in elder years. So, what can our readers in Georgia expect when it comes to nursing home and long-term care costs?
Georgia residents approach special needs planning from the right place: they want to make sure that loved ones are taken care of. For many people, that loved one is a child, or perhaps a sibling. Whatever the case, even an approach to special needs planning that attempts to account for all types of contingencies might encounter unique problems.