What to Know About the Medicaid 5-Year Look Back Period

If you or a loved one in Dayton, Ohio, needs long-term care, you might be wondering how the 5-year Medicaid look back period could impact your financial planning. The Medicaid look back is a rule that checks whether assets were transferred in the last five years before you apply for Medicaid. Understanding this rule is critical because it could affect your eligibility for Medicaid assistance with long-term care.

What is the Medicaid Look Back Period?

The Medicaid look back period refers to the rule that reviews any assets you may have transferred during the past 60 months (five years) before applying for Medicaid. If Medicaid finds that you gave away assets during this time, you could face penalties, which may delay your ability to receive Medicaid benefits. The purpose of this rule is to ensure that Medicaid is available to people who truly need help paying for long-term care, rather than those who can afford it on their own.

How Does the Look Back Period Work?

During the look back period, Medicaid reviews whether you transferred assets, such as your home or fina… Read More

Is a Handwritten Will Valid in Ohio?

When planning your estate, one of the most important documents you'll create is your will. This legal document outlines your final wishes and how you want your assets distributed after you pass away. While most people think of a will as a formal document drafted by a lawyer, you might be surprised to learn that a handwritten will, also known as a holographic will, can be legally recognized in some cases. But what about Ohio? Is a handwritten will legal in Ohio, and are handwritten changes to a will legal? Let’s explore the details.

Can You Write Your Own Will in Ohio?

In Ohio, a handwritten will is legal under certain conditions. A handwritten will can be valid as long as it meets specific legal requirements. Ohio law requires all wills (including handwritten ones) to be signed by the testator, and witnessed by two individuals who are not beneficiaries of the will.

While it may seem simple to grab a pen and paper to jot down your final wishes, the state of Ohio takes the validity of wills very seriously. The reason for these strict requirements is to ensure that the will accurately reflect… Read More

Does Your New Will Invalidate Your Old One?

Creating a will is one of the most crucial steps in estate planning, as it ensures your final wishes are honored after you pass away. As life changes, however, you’ll likely need to update your will. So, what happens to the old will when you make a new one? Does your new will invalidate your old one? Let’s explore how this process works and what steps to take to ensure your new will is valid and effective.

Understanding Will Revocation

When you create a new will, you generally intend for it to replace any previous wills. In legal terms, this is called "revocation." But does your new will automatically invalidate your old one, or is there something specific you need to do to make sure the old will is no longer valid?

Does Your New Will Invalidate Your Old One?

Yes, a new will typically invalidates an old one. When you create a new will, it usually includes a clause that explicitly states that all previous wills are revoked. This clause is important because it clearly indicates your intention to cancel any former wills. Without this revocation clause, confusion or legal challenges can arise regarding which will is the valid one.

Is an O… Read More