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Do I Need a Caregiver Agreement?
Mar 08, 2017
By Estate, Asset and Retirement Tax Lawyer Rick Law of the Estate Planning Center at Law Elder Law. Familial caregivers are typically compensated according to what the state along with your attorney determines to be “Fair Market Value”. This may prevent transfers of money from one family member to the next from being counted as gifting […]
“Outmoded Medicare”
Dec 05, 2016
By Rick Law, Elder Law Attorney at the Estate Planning Center at Law Elder Law. The multi-generation law firm of LEL serves seniors, boomers, and their families in Kendall, Kane, DuPage, Will, Cook and other counties in Illinois. The world was different in 1965. I remember most of the aged poor of our community went […]
Is It Too Late To Right the Ship?
Nov 09, 2016
By Estate Planning and Elder Law Attorney Rick Law of the Estate Planning Center at Law Elder Law. LEL is a multi-generation firm serving seniors and their families in Aurora, IL just West of Chicago off of the I-88 tollway. An all too familiar phone call came into our office the other day: “My mom […]
The Gift Tax, and Gifts to Family Members
Oct 10, 2015
By Rick Law, Elder Law and Medicaid Crisis Planning Attorney at the Estate Planning Center of Law Elder Law, Kane County Senior Advocates in Illinois. One of the most common myths of gifting is that the recipient of the gift pays taxes. It is counterintuitive that the person making a gift may be responsible for […]
Improperly Spending Down Assets – Don’t Make These Mistakes!”
Oct 08, 2015
By Rick Law, author of ‘Cruising Through Retirement – Avoiding the Potholes’, Elder Law attorney at the Estate Planning Center at Law Elder Law in Aurora, IL. If a spouse has Alzheimer’s and needs to qualify for Medicaid but the assets are too high, that person cannot simply give away assets until reaching the maximum […]
Avoiding Asset Spend Down
Sep 16, 2015
By Attorney Rick Law, managing partner at the Estate Planning Center at Law Elder Law. Providing estate planning, wills trusts, probate, guardianship, and elder law services to the western Chicago suburb of Aurora in Kane County, Illinois. Let’s say a couple has a house that is valued at approximately $300,000 and two vehicles. One spouse needs nursing […]
The Nursing Home Spend Down
Sep 14, 2015
By Rick Law of the Estate Planning Center at Law Elder Law in Aurora, IL. Senior advocates, estate planners, and elder lawyers. Individuals with more assets than allowed by Medicaid must “pay down” or “spend down” their assets before they can qualify to be eligible for Medicaid benefits. If someone applies for Medicaid before “spending down” to […]
Prenuptial and Antenuptial Agreements
Sep 11, 2015
By Estate Planning Attorney Rick Law, at the Estate Planning Center of Law Elder Law in Aurora, IL. When it comes to prenuptial or antenuptial agreements, if one spouse has to go to a nursing home, both spouses are responsible to pay for the care. That means your prenuptial or antenuptial agreement may not be worth the […]
Medicaid and Principal Place of Residence
Sep 09, 2015
By Rick Law, Managing Partner and Senior Advocate at the Estate Planning Center of Law Elder Law in Aurora, IL in the Western suburbs of Chicagoland. When one spouse is in a nursing home (the “institutionalized” spouse), and one spouse still lives in their jointly owned home (the “community” spouse), the home is considered an exempt asset. In other […]
“Medicaid Eligibility”
Sep 07, 2015
By Elder Law attorney Rick Law. Founder and Managing partner at the Estate Planning Center at Law Elder Law. Senior care and planning advocates in Aurora, IL, just off the Farnsworth exit of the I-88 tollway. Medicaid eligibility is based on the applicant’s medical condition and assets and income. For example, to apply for Medicaid assistance […]
Our Reviews
My wife and I had our first child three years ago. That’s when we decided to set up a trust, should anything happen to either of us. We reached out to Zach Hesselbaum to help us out. He was very thorough and professional throughout the whole process. Zach went above and beyond to make sure that we understood every detail of setting it up and he did an excellent job. We recently had our second child a few months ago. With the new baby, he helped us make the necessary revisions to the trust. Zach made this process great for us! I would definitely recommend using him for any of your estate planning needs!
Tom G., Naperville, IL