What If I Die Without a Will?
If you die without creating a will (a legal circumstance called intestate), your assets will be divided according to Michigan’s inheritance law. Your estate can also be held up in probate as the court system records assets, pays debts, identifies heirs, and distributes what’s left of your estate.
5 Things You Should Know About Medicaid
In too many cases, nursing home residents drain all of their assets on long term care. Fortunately, our Medicaid attorney can help your family plan for nursing home care before it costs you your life savings.
How To Start Estate Planning
Estate planning gives you peace of mind so you can enjoy retirement to the fullest. While we understand most clients don’t like confronting their own mortality, you shouldn’t put off creating a will and appointing a power of attorney.
Five Ways Estate Planning Prevents Inheritance Disputes
Are you concerned that your last will and testament will be challenged? If so, you’ll want to hire an estate planning attorney as soon as possible to review your case. Many family inheritance disputes can be avoided by hiring an attorney experienced in estate planning and elder law.
How to Discuss Long-Term Care with Aging Parents
No one wants to think about their parents aging and needing long-term care; however this is the reality for 70% of Americans over the age of 65. In order to help your loved ones age with dignity, it’s important to talk with them so you can determine the best way honor their wishes.
Pros and Cons of In-Home Assistance
It’s not uncommon for adult children to struggle with finding the right . Most elderly people aren’t interested in having a stranger in their home to help with everyday activities, but are also resistant to . Having a candid, yet respectful, conversation with your parent about their limitations and your concerns can help them accept in-home assistance.
Why Medicaid Planning Should Be On Your Retirement Checklist
After saving money for a lifetime to retire, the last thing you want is to spend all your money on nursing home expenses. While Medicaid covers the cost of nursing home care, you’ll need to be aware of income and asset limits to become eligible.
What is Alzheimer’s Planning?
If you or a loved one have recently been diagnosed with Alzheimer’s disease, it’s important to start planning for the future as soon as possible. Planning for your future can be the most empowering thing you do to make sure your final wishes are honored by loved ones and health care providers.
What are the Differences Between Wills and Trusts?
If you are getting ready for retirement, you’ll want to make sure you have a comprehensive estate plan in place (if you don’t already have one). What an estate plan does is make sure that your property is distributed according to your final wishes.
5 Debunked Myths About Estate Planning
Estate planning gives you peace of mind so you don’t have to worry about your assets going to the right people after you pass away. Estate planning can also outline medical treatment in the event you are unable to make decisions for yourself.
Paying a Relative For In-Home Care? Some Things You Should Know...
QUESTION: Mom is having trouble living independently but would like to live in her home for as long as possible. Is there any problem with Mom paying a relative to provide care in her home?
Ever Wondered Why You Need a Power of Attorney?
A Power of Attorney ("POA") is a legal document by which you (the "principal") give certain powers to someone else. This person becomes your "agent" and is authorized to act for you in your place.
Important Changes to Medicaid and Long Term Care
QUESTION: I've heard that Medicaid is making big changes to long term care. Can I still protect my assets?
State of Michigan Strikes Blow Against Preservation of Assets
After 20 years of agreeing with the use of an irrevocable "solely for the benefit of" trust, the State of Michigan has decided to disallow the technique commonly used to protect and preserve assets for married couples facing a nursing home stay.
OMG! A Durable Power of Attorney for Your Eighteen Year-Old?
Do you have a child that turned eighteen or is about to turn eighteen? What about a child on their way off to college?
What is Long Term Care Planning?
Long Term Care Planning allows my clients to protect hard earned money from the draining cost of long-term care, perhaps even allowing the client to stay in their home rather than move to a skilled nursing facility, (nursing home) without selling your house, without wiping out your life savings, without leaving your spouse penniless, and possibly still leave an inheritance for children and/or a charity!
Once, Twice, Three Times a Ladybird Deed
A so-called "ladybird deed" has become quite popular with Michigan elder law and estate planning practitioners in the past decade. What is it? A ladybird deed (also known as a "transfer on death deed") is a real property transfer wherein the grantor (usually the elder client) reserves all rights of ownership until his or her death.
The "Multi-Home Homestead" Dilemma
Michigan Medicaid eligibility has been fairly consistent over the years in not counting (or treating as "exempt") the value of an applicant's homestead. The homestead has been defined by Medicaid as the residence the applicant lives in or intends to return to if nursing home services are no longer necessary. The homestead definition includes all contiguous land - that is land not separated by another's land. Historically, the homestead was also defined to include any structures, including other residences, on the homestead property.
The Medicaid Recertification Process - What You Need to Know
On the one year anniversary after an individual has been approved for Medicaid, and on each subsequent one year anniversary, a "recertification" application is required to be submitted. Historically, this has been a fairly straightforward affair, as the Medicaid recipient normally only owns one account with (hopefully) less $2,000.
Important Information about Jointly Owned Real Estate - Do You Know The Rules?
For many years, jointly owned real estate was considered "unavailable" for Medicaid purposes. In other words, the family cottage owned jointly with Mom, Dad and daughter Susie was NOT a countable asset for Medicaid purposes because it was not available to be sold (mom and dad could not force Susie to sell, nor could Susie force mom and dad sell). That all changed in 2010, when, against the United States Constitution, Michigan decided to count jointly owned real estate as an "available" assets. In other words, Michigan DHS seems to imply that joint owner CAN IN FACT FORCE EACH TO SELL!
Do You Know What Medicaid Means by "Fair Market Value"?
Recent changes to the Medicaid eligibility rules have re-defined the term "fair market value." Specifically, the regulations state that a sale BETWEEN RELATIVES is NOT for fair market unless, proved otherwise. The regulations do not define the term "relative," meaning sales between parents, children, grandchildren, cousins, nieces/nephews, etc. could be included.
Protective Orders to the Rescue!
A "protective order," a directive from the probate court regarding the assets of a nursing home patient, is a little know but highly productive tool in the Medicaid planning arsenal.
Community Spouse Planning - A Must Do to Protect and Preserve Your Assets
When a nursing home spouse applies for Medicaid benefits in Michigan, the "community spouse" is entitled to keep exempt assets ( for example, the home) plus a predetermined asset allowance. With the help of a knowledgeable elder law attorney, a community spouse often protect and preserve 100% of the assets through various methods (see this blog, community spouse asset protection).
Nursing Home Parent with Disabled Child - A Planning and Saving Lesson
When a nursing home patient applies for Medicaid assistance, he is asked to report any gifts or transfers made in the FIVE YEARS immediately prior. These transfers are called "divestments" and will result in a penalty period for the nursing home patient, preventing Medicaid eligibility.
Nursing Home Update Part 2 - HMS Estate Recovery Documents Generated at Death
When a long-term care Medicaid beneficiary dies, HMS generates various documents, including: The Notice of Intent to File Claim Against Estate and the Michigan Estate Recovery Questionnaire. These two documents are mailed to an individual, or law firm, identified by HMS as the “primary contact” for the decedent within 30 days of the death of the Medicaid beneficiary.
Nursing Home Update Part 1 - State Implements “Estate Recovery Program
On July 1, 2011, Michigan began its long anticipated “Estate Recovery” program.
Over 90 Attend May Long Term Care and Medicaid Planning Seminar
Finally, Some Direction of Michigan Estate Recovery!
New Medicaid Changes - April 1, 2011
What You Need To Know About Long Term Care And Medicaid Planning
The Return of Estate Tax Planning
Michigan Medicaid Rules Made Easy! Part One: Understanding the Difference between Countable Assets and Exempt Assets
Status of Medicaid Estate Recovery Law in Michigan
2010 Medicaid Numbers at a Glance
Admitting a Loved-One to a Nursing Home? Be Careful What You Sign!
A spouse, child or other relative helps check-in a loved-on into a nursing home. The relative is supplied numerous “admission forms” to sign. Watch out! One form may be an “acceptance of responsibility” contract. That’s right… when helping your loved-one admit to a nursing home, you may unwittingly guaranty payment of the nursing home bill should the patient not be able to pay.
Medicaid Planning