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Not sure if we need to see an elder care attorney or possibly a fiduciary, We have a will/trust. I don't know if this falls under the "you don't know what you don't know" category.

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As another responder mentioned, it's important to have your attorney review your circumstances and existing documents every few years.

If you have modest or substantial life savings and you own real estate, you can get accurate advice from an Estate Planning Attorney who also keeps up with Elder Law planning in your state.

The attorney will review your existing will/trust, and explain how your existing document(s) work during your lifetime, and upon your death.

You'll begin to understand whether your existing documents are designed to accomplish what you want.

Many people want to avoid Probate during their lifetime and upon death, and also be eligible for Medicaid paid care if they need it in the future.

An explanation of these 2 goals requires Estate Planning, Real Estate and Elder Law expertise. The other important circumstances in your life must also be considered: your current health, resources needed now and in the future, and the health and needs of other people who are important to you.

When I meet with a client, we create an inventory of their asset values and how they own each asset (example: Individually Owned? Jointly Owned? owned by them as Trustee? etc.) Each asset is entered into the asset category that is relevant to the IRS, our state's Probate Court, and to a Medicaid case worker who would review an eligibility application in the future.

The Will, Trust and Power of Attorney documents are then designed to accomplish and protect your goals for your lifetime, and the legacy your you want to leave for your family.

You may find that your existing documents continue to do what you need them to do. Or if law and circumstances have changed, updated documents will give you the confidence you need to manage life now and in the future.
Helpful Answer (3)
Reply to John L. Roberts
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Do you have "a" will, or do you each have your own will? How long ago did you write them? Did you use an attorney to write them? Are they notarized/witnessed in whatever manner your state requires? Did you use an attorney to draft your trust, and is does it have an EIN filed with the IRS, with annual tax returns? Do you have accounts with beneficiaries, such as life insurance, retirement, and pensions?

Not trying to interrogate you, just that if you're not sure everything is properly covered, or you did these things long ago, it would be a good idea to meet with a lawyer to make sure that they were done properly, are still valid, and do what you want them to do.

If this is a second marriage for either or both of you, especially with children from previous marriages or relationships, it's important to verify that nothing is accidentally left to former spouses, or that some children are unintentionally shut out.

If you're asking the question, then you should consult a professional. It will give you peace of mind.
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Reply to MG8522
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A will is fine and dandy but do you have your powers of attorney? Medical decision maker and health care wishes (sometimes called a living will) are also great to have in place but to me. We all hope to go peacefully in our sleep but unfortunately that doesn't happen often enough. Who will make the big decisions for you in the event you develop dementia and start making unfortunate decisions, like wandering the streets lost, or sending all your money to an online scammer. Just something to consider.
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Reply to Slartibartfast
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My husband and I connect with our attorney or a new one if our old one retired every 5 to 10 years. Some laws change. For example, my mom had documents written in 1995. When it came time for the POA combined with a move across state lines, her POA only had 1 witness where 2 were required. Fortunately, her long retired lawyer kept his records and confirmed with probate in her previous state. I had the document certified and filed in her current county probate. The scariest thing is sending the original document via FedEx and anxious about it getting lost or destroyed along the way,
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Reply to MACinCT
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