While Medicare gets most of the news coverage, Medicaid still remains a bit of mystery to many people. The fact is that Medicaid is the largest source for funding nursing home care, but there are many myths about exactly who qualifies for it and what coverage it provides. Here are five myths followed by the real story.
So, you’ve worked hard to build your business, protected your personal assets within the corporate veil of an Alabama LLC, and executed the “big three” estate planning documents (Will, Durable Power of Attorney, and Advanced Healthcare Directive) to plan for your death. That’s great, those are some really good steps toward securing your legacy.
But what happens to that LLC when you die? A 2014 case involving an Alabama LLC, the case of L.B. Whitfield, III Family LLC v. Virginia Ann Whitfield, et al., is instructive, but may provide some unsettling news.
In modern America, estate and trust disputes, including will contest are getting more common. There are likely many socioeconomic reasons for the rise in incidence, but as the baby boomer generation ages it is something many families and beneficiaries will need to address either before or after the passing of a loved one.