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Fuhrman and Dodge

What are the options for paying for long-term care?

Most of us cannot predict whether we or a family member will require long-term care.  Depending on the circumstances and care needs, costs can range from a thousand dollars to over $10,000 per month.  Medicare only covers skilled nursing care expenses in limited situations, such as for rehabilitation following a qualifying hospitalization.  People can pay out of pocket from income and assets.  Others have long-term care insurance that pays for care costs. Read More

What is Probate and Why Avoid Probate

“Probate” is a court supervised process used to settle an estate when assets can’t be directly transferred to a beneficiary or a joint owner of an asset.  The probate court oversees the process of identifying the deceased’s property, paying any debts, identifying proper beneficiaries, and the distribution of property to those beneficiaries.  The Personal Representative is the person named by Will and appointed by the probate court to administer the estate. Some states use the terms executor or administrator.  The probate process serves has two distinct purposes: First, probate the Will to establish the validity of the Will and appoint the personal representative.  Second, administer the Estate to carry out the provisions of the Will under the supervision of the probate court. Read More