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Medicaid Home Care Rules

Individuals seeking to obtain Long-Term Care services outside of a nursing home must navigate a different set of Medicaid eligibility rules, depending on the type of services required.

One of the primary goals expressed by our clients is to remain in their own homes or at least in the most independent setting possible.

 

 

 

Navigating the maze of community care requires an in-depth knowledge of the services available in the home, and in adult homes and assisted living facilities, and an ability to manage income and resources to maximize their value, while utilizing Medicaid services wherever available to supplement the care provided by the individual and their family. 

Community-based Medicaid services are available through the MI Choice Waiver. Generally, however, Medicaid does not pay for adult home or assisted living care, which under existing rules must be paid for privately.

In order to access community-based care, an individual is allowed to keep the...

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Irrevocable Pure Grantor Trusts (Part 2)

Irrevocable Pure Grantor Trusts With David Zumpano (Part 2)

Irrevocable trusts, traditionally, are estate tax planning devices. Very few Americans need estate tax planning, however – less than 2%. Why, then, would you want an irrevocable trust?

This two part series, including part one, focuses on a new type of irrevocable trust known as the irrevocable pure grantor trust.

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Irrevocable pure grantor trusts are mainly used to protect assets from creditors and predators, and can be an excellent pre-planning tool for elder law attorneys and their clients.  Understanding what they are, and how they differ, from traditional irrevocable trusts is essential.

In this episode, David Zumpano, a nationally recognized expert on asset protection and elder law planning (also a CPA & attorney) discusses this irrevocable trust, who it is for, and why you may want one.

Learn how this type of trust is one of the best ways to truly keep your money “safe.”

...

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Can We Avoid A Nursing Home Spend Down? - Ask The Attorney

elder law estate planning Jan 31, 2017

This article about nursing home spend downs by Michigan estate planning and elder law attorney Nicole Wipp and the Family and Aging Law Center is not legal advice. It is for informational purposes only. For legal advice on your situation, consult with a qualified elder law attorney.

 

How Do We Avoid A Total Nursing Home Spend Down?

Family & Aging Law Center paralegal Sharon Kwolek and attorney Nicole Wipp show a nursing home medicaid application - 272 pages long - saving the client $250,000.00 ++.  This could not have been accomplished by the clients themselves - they needed a qualified elder law attorney!

 

Q: I’ve been told that if either of my parents needs nursing home care, we have to spend all of their money.  Is this true?  Can we legally protect some of my parent’s money?

A: The answer is, without a proper, legal plan, you do have to engage in what is called a “Spend Down.”  How much your parents are allowed to keep...

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What Are the Rules for Medicaid Qualification (Part 7)? - Spousal Protections

For the final topic in our series on Medicaid qualification rules, we'll be looking at important information in regard to spousal protections. As with part six of our series, your Medicaid planning advisor can best help you determine how the rules apply to your specific circumstances in your specific locality. Before you get into the specifics, however, it’s always a good idea to familiarize yourself with the general federal guidelines for Medicaid qualification that apply everywhere. To start at the begining of our series, click here

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Spousal Protections

The spouses of nursing home residents are provided certain protections under Medicaid law. Here is a brief overview:

  • Snapshot of Couple’s Assets – With married applicants, Medicaid takes a “snapshot” of the couple’s assets when the ill spouse enters a hospital or long term care facility for at least a 30-day stay.
  • Community Spouse Resource...
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Irrevocable Pure Grantor Trusts

Irrevocable Pure Grantor Trusts With David Zumpano (Part 1)

What is an irrevocable pure grantor trust, and why would someone want one? In this episode, David Zumpano, a nationally recognized expert on asset protection, estate planning & elder law, discusses with our attorney Nicole Wipp, this little known (although widely used) trust – what it is, why we use it, and who it is for.

In Part One You Will Learn:

  • about the goal of helping a loved one to protect their autonomy
  • why people end up in nursing homes (how failing to plan makes this more likely)
  • why retirement isn’t necessarily what you think it is
  • why we want to engage in an asset protection strategy for financial security in our later years
  • what is an irrevocable pure grantor trust, and how it differs from tax trusts and revocable living trusts
  • the history of trusts and what they were traditionally used for (tax trusts – the “traditional” irrevocable trust – no access, no control, no...
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Revocable Living Trusts (Part 2) With Nicole Wipp

Revocable Living Trusts (Part 2) with Nicole Wipp

This is Part 2 of a two-part series on Revocable Living Trusts. To listen to Part 1, Click Here.

Options

When it comes to revocable living trusts, people often don’t know the options that they may be able to include to protect loved ones.  When given these options, however, many people definitely want them!  Know the different types of options you can have to help those you love and help ensure your money goes to who you want, when you want, in the way you want.

Thank you for listening!

 

Be a SMART PLANNER!

Contact Us Today at (248) 278-1511. We Can Help.

The information in this podcast is not intended to be, nor should it be, construed as legal advice. It is for informational purposes only. For advice, specific to your situation, consult with a qualified attorney.

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Revocable Living Trusts (Part 1) With Nicole Wipp

Revocable Living Trusts (Part 1) With Nicole Wipp

How Do Revocable Living Trusts Work?

In this episode, host Nicole Wipp discusses what a “RLT” is and the importance of “funding your trust” – a commonly missed step.

You will learn:

  • What the primary purposes of revocable living trusts are
  • What a revocable living trust does NOT do for you
  • Common misunderstandings as to how this trust works
  • What trust funding is and why it is critically important

This is Part 1 of a two-part series on Revocable Living Trusts. To listen to Part 2, click here.

 

Be a SMART PLANNER!

Contact Us Today at (248) 278-1511. We Can Help.

The information in this podcast is not intended to be, nor should it be, construed as legal advice. It is for informational purposes only. For advice, specific to your situation, consult with a qualified attorney.

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Estate Planning is NOT Just About Death Planning

Most people, when thinking about estate planning, are focusing on what happens when they die.

This is one of the biggest mistakes you can make.

There are many legal tools that can be used to enhance the quality of your life and to reduce the burden to your family when disability – which is inevitable for most of us – happens.  It is also important to understand that the right kind of estate planning may be a necessary component in ensuring that your spouse or children “left behind” are not left in poverty or overwhelmed. 

The first step in estate planning is education. One of the biggest challenges I face as an attorney is making people understand that things they “think they know” aren’t necessarily true.  When it comes to estate planning – What you don’t know can hurt you.

Provided within the Family & Aging Law Center Blog, we're looking at some aspects of how estate planning works. Hopefully,...

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Long-Term Care - What About Private Long-Term Care Insurance?

Today we'll be taking a brief look at some aspects of long-term care. For more detailed information, it’s best to consult with a qualified legal advisor. So think of this as an introduction.

There are many complexities to long-term care planning, it’s important to understand that there are options, and programs intended to help families like yours. Long-term care planning is the best way to ensure you protect as much of your hard-earned assets as the law allows, and to receive the care you need.

Let’s Get Started…

What About Private Long-Term Care Insurance?

Most Americans will not be able to self-insure for Long-Term Care.  Therefore, based upon the current condition of health care, long-term care and Medicaid, if you are insurable and long-term care insurance premiums are affordable, such a policy should be integrated into your estate plan to provide protection without the need for transferring assets. 

Long-term care (LTC) insurance has...

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Who Needs Estate Planning?

The Facts...

Estate planning isn’t about how much money you have, it's about protecting what you have for you, during your life and for those you love, after you’re gone. It ensures what you have gets to the people you love, the way you want, when you want – and it ensures that you will be properly provided for when you can no longer do it for yourself.

If you were to die – or become disabled - today, are you comfortable everything will be taken care of the way you wanted?  Will your family know how to make the hard decisions that must be made? Estate planning is legally ensuring things will be handled the way you want by providing sufficient instructions, and it is reducing the burden on those that must take care of things when you are no longer able to.

Estate Planning really is for everyone. It doesn’t matter if you have $40,000, $400,000, or 4 million. You still have to plan for the future. Whether it’s to name a guardian for your minor...

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