20 01, 2020

2020 Louisiana Long-Term Care Medicaid Asset Eligibility Limits

By | 2020-01-20T13:52:58-06:00 January 20th, 2020|0 Comments

Medicaid Planning helps many Louisiana families achieve asset protection against long-term care costs. This strategy often utilizes Trusts which hold assets in excess of preset Medicaid eligibility Limits. When the Trust owns assets, those assets don't count against the planner's eligibility for Medicaid coverage of long-term care expenses. Medicaid covers most of an applicant's long-term care expenses as long as the assets held outside the trust fall below the aforementioned limits. So what are these Medicaid limits in Louisiana. For single persons, the asset limit is always $2,000.00. This number remains unchanged. This means a single person seeking medicaid for [...]

8 11, 2019

Avoiding Probate on Promissory Notes and Mortgages: It’s More Important Than You Might Think

By | 2019-11-08T15:36:59-06:00 November 8th, 2019|0 Comments

meeting with my Louisiana Estate Planning clients, I sometimes encounter clients who have lent money to family, friends, and others.  A legal agreement, usually a mortgage or promissory note, evidences the financial obligation for the loan recipient. In the mortgage or note, the debtor promises to pay back the loan with interest over some predetermined time period. This works well when payments to service these loans continue and when the creditor is still alive. But what happens when the creditor dies? Often, the debtor mistakenly believes that their legal obligation is over. Clearly this is not the case. After the [...]