This week is part three of my Consumer's Guide to Medicaid Planning. Lets look at some case studies for qualifying for Medicaid: Division of Assets: Medicaid Planning for Married Couples Division of Assets is the name commonly used for the Spousal Impoverishment provisions of the Medicare Catastrophic Act of 1988. It applies only to married couples. The intent of the law was to change the eligibility requirements for Medicaid where one spouse needs nursing home care while the

Last week I shared part one of my Consumer's Guide to Medicaid Planning. This week I would like to focus on part two of the guide which deals with what assets a single person or if married, the couple are allowed. I will also address some of the frequently asked questions I encounter from clients. There are very specific guidelines of this benefit program that must be followed. Often, qualifying requires careful planning. Failing to follow these steps may delay benefits or di

As the founder of the Elder and Estate Planning Law Firm, I specialize in helping Michigan families protect their estates. Whether you are worried about nursing home expenses that cost an average of $9,000.00 per month, assisted living expenses, having your estate avoid probate court or planning for a special needs child or grandchild, I have helped thousands of families obtain peace of mind when faced with such issues. Often this involves qualifying for Medicaid or VA benefi

1. Procrastination. Most everyone is aware that it is important to have an estate plan. Far too often however, they do nothing about it. While no one likes to think about their own mortality or the prospect of becoming disabled, you can only plan before these events occur. Solution: Schedule a meeting with a qualified estate planning attorney to discuss your situation. 2. Not Having a Will. Most people do not even have a basic will. A will is very helpful in nominating who wi

One of the most important estate planning decisions you will make is deciding who will be responsible for your care if you become disabled and who will administer your will or trust after your death. This “job” may require a great deal of time and responsibility which can include paying bills, managing finances, yearly accountings, investment decisions, filing tax returns, dealing with other family members, etc. Most people typically just name a family member and unfortun