Pennsylvania Estate Planning
Pennsylvania residents helping their family member apply for VA Aid and Attendance benefits may want to consider updating or creating Mom or Dad’s Pennsylvania estate planning documents.
A financial power of attorney can help Mom or Dad qualify for Aid and Attendance benefits by allowing a family member to make critical financial decisions such as including joint bank accounts, buying or selling other assets such as stocks, mutual funds, CDs or income annuities.
A medical power of attorney will permit a trusted family member to make important healthcare decisions if and when a loved one is incapable of making those decisions.
When Mom or Dad pass away, a last will and testament can make the process of distributing the estate and completing the Pennsylvania Inheritance Tax easier and less stressful.
The creation of an estate plan and a last will and testament are important steps to take to properly prepare for the future. These documents should be created while parents and grandparents can still make important decisions.
If Mom or Dad are residents at a skilled nursing facility, and Medicaid might be in the future, these articles on the Medicaid application and the resource assessment for married spouses could help your family save tens of thousands of dollars in medical care over their lifetime.
Please contact VA Legal Team, LLC for a free consultation and to discuss how estate planning documents can benefit your family. Call 855-380-8667.