Don’t let the government claim your parents’ home when they die
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Kids are sometimes shocked when their parents pass away and the family home is subject to a claim by the government, leaving them with a lot of frustration. When does this happen exactly? Short answer: it happens when Medicaid is involved. To learn more, read When Medicaid Comes After the Family Home, which contains several stories about families experiencing Medicaid estate recovery nightmares. Louisiana Medicaid has become more aggressive in recent years in clawing back money spent on nursing home care. Can this be avoided, you might be wondering? Well, sometimes. There are workarounds, but in general, they’re complicated and need serious advance planning. If you think you might need to address this situation, give me a call, and we can explore options to avoid or alleviate the problem. Here’s my number so you can set up an appointment to chat: (504) 300-9938. ~ Addie P.S. Shoot me a reply if you have trouble accessing the article, and I’ll send you a PDF. |
Addie Prewitt Law
Warren Buffett updated his will at the end of last year—and his biggest tip might surprise you: Let your adult children read your will before you sign it. Whether you have “modest or staggering wealth,” Buffett says it’s a conversation every parent needs to have. Curious about why? Here's an article that breaks it down and links to his letter: Warren Buffett suggests all parents do one thing before they die. What do you think—sound advice? -Addie
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