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Medicare is a Federal program that pays for doctors, hospitals, and prescription drugs. It does not cover long-term custodial care. Medicare functions more like regular health insurance, and only pays for short-term, temporary rehabilitation or recovery in a nursing home following an illness or injury.

No. With thorough estate planning, patients and spouses can obtain the care they need while protecting other family members from possibly having to fund their care later on.

A beneficiary is someone who receives benefits from the trust such as money, property, services, etc. This could be your spouse, children, other family members, or a charity.

Trusts for children and young adult beneficiaries are created to ensure that their inheritance will be supervised by a reliable trustee, and use wisely and well, and not wasted. A trust can specify who will benefit as beneficiaries, why the trust is created, how and when trust resources should be spent, and more. If no trust is created for a minor child beneficiary, Pennsylvania law requires the establishment of a court-supervised legal guardianship for a minor, and for funds to be held in a low-return bank guardianship account that cannot be touched until the child turns age 18. Even worse, the child can later get (and spend) the money when they turn age 18.

It is never advisable to set up a will, trust or estate pan on your own. Always consult an estate planning attorney for help in creating a Will, trust, power of attorney, deed, family care agreement or other estate efforts. A trained professional planning attorney and advisor is also invaluable in dealing with probate estate administration, inheritance, or related tax issues. Be careful to avoid salesmen who will sell living trust kits or services without regard to whether it is truly right for you.