Articles Posted in Asset Protection

Wills play an important part in the estate planning process. The best estate plans, however, include more than wills. Instead, the best estate plans anticipate the numerous complications that can arise at the end of a person’s life.

Advance Healthcare Directives

Medical powers of attorney and living wills serve an important role that wills simply do not touch. A medical power of attorney can be used to appoint someone to make healthcare decisions in case you become incapacitated. A living will can be used to determine what type of life-prolonging measures you would like if you end up on life support. 

Settling an estate, after the loss of a loved one while grieving, is a difficult process. For the weeks and months that follow the funeral, handling the estate of a deceased individual may quickly overwhelm survivors. The steps outlined below provide a guide to survivors through this tumultuous time.

 Immediately upon the death of a loved one

After notifying family members and close friends, contact a funeral director. The funeral director is able to assist with funeral and burial arrangements, publish an obituary, order the death certificate, and transport your loved one’s remains to the funeral home.

State plans for medical assistance under federal Medicaid law must comply with certain requirements located in Title 42 U.S.C. § 1396a.4, but do not always do so. In 2018, the United States District Court for the District of Alaska in the case of Disability Law Center of Alaska v. Davidson denied a motion for summary judgment on three claims alleging that Davidson who in her position as the commissioner of the Alaska Department of Health and Social Services had violated federal Medicaid law. 

The violations of which the Center was accused were: failure to provide adequate notice on how to apply for and access applied behavioral therapy, not reimbursing for ABA under the program, and not providing ABA services under the program with reasonable promptness. In arriving at its decision, the court noted that the Disability Law Center had the burden under federal law of establishing that Davidson had deprived them of the following rights: the right to notice of availability of ABA services, the right to be reimbursed for ABA therapy, and the right to have ABA therapy provided. 

The court’s subsequent decision subsequently supported the position that any state that has elected to participate in federal Medicaid programs must be prepared to provide services identified under the federal statute as mandatory. This case underscores the right that many individuals in the United States have to Medicaid benefits.

One of the common responses that many people have as they learn about estate planning is that there are a number of estate planning documents. In addition to things like wills, living wills, advance directives and powers of attorney, there also also a number of other important documents.

In New York there are Medical Orders for Life-Sustaining Treatment (MOLST) forms. This article briefly reviews what MOLST forms do and situations where you might need one of these documents.

The Role of MOLST Forms

The Eighth Circuit Court of Appeals in Northport Health Services v. Posey recently reversed a lower court’s decision to grant summary judgment in a wrongful death action. One son in the Posey family in this case had signed the admission agreement of his brother at a resident rehabilitation center owned by Northport, which included an arbitration agreement. Northport then sought to compel arbitration and the district court granted this motion. The brother then appealed claiming that the district court misapplied the third-party beneficiary theory to the case because there was no underlying agreement between the Posey family and Northport. 

Making the decision to place a loved one in a rehabilitation center after they are in the hospital can be a difficult decision. Reviewing the associated terms of any agreements concerning a loved one’s care are just one of the many things that you should make sure to do. Fortunately, by following the advice below, this process can be made much easier. 

# 1 – Plan for Discharge as Soon as Possible

Millions of people find themselves in a middle class bind as they enter the midpoint of their retirement period. A good eight (8) to ten (10) years into retirement, many individuals are able to physically continue to live in their home and afford the upkeep and maintenance of their home with their retirement savings

 Especially if the individual’s home is single-story, as health problems mature, many individuals will be physically able to maneuver their way around their home with little assistance. Multi-story homes become more difficult because climbing stairs may be a problem. Individuals in the midpoint of their retirement are generally still able to care for themselves. Many of them even hold permanent part-time jobs.

 The sources of income for individuals in retirement are the fixed income they receive from a pension, an individual retirement account (IRA), Social Security, and 401K savings. Variable income is received through part-time job wages and other financial instruments like an annuity and cash savings.

My doctors always advise me that medications are meant to help me live better not longer. I always walk away from the experience scratching my head a bit because most of my medications have made me live longer but worse than before. The worst part of taking medication daily is remembering to take medication daily. It seems like such a simple task, but part of my brain still fights that I even have to take medications in the first place.

 The second worst part of taking daily medications to live better are the side effects, especially interactions with other drugs. Some of the news is easy to ignore, and to a certain extent makes me laugh. For every story I read about the harmful effects of drinking coffee daily, there is another one saying daily coffee consumption would kill me. What kills me, however, is skipping a cup, the headache is the worst.

 There is news you should pay attention to and at least discuss with your doctor if it raises any concern with the management of any of your health conditions.

Trusts are an excellent way to pass and preserve wealth privately. Two of the main benefits of using a trust to pass your assets – timeliness and cost – were explored in our previous post. Unlike the probate process that accompanies the settlement of an estate by will, a trust provides your heirs with immediate access to the trust benefits. The settlement of an estate passed by will can also gobble over 4% of an estate’s value, regardless of size. A third reason people use trusts to pass wealth is that they also enable the settlor, or donor, to minimize estate taxes, making more of your wealth available to your beneficiaries. 

Married couples

The death of a spouse is devastating. Whether the death was sudden or after a long illness, one day you are married and the other day you are not. The deceased spouse wants to be able to provide for the living spouse, especially if the living spouse is battling a chronic health condition. Paying for your spouse’s living expenses and medical care and expenses, including long-term medical care is of paramount importance to the deceased spouse. Married couples can benefit from the establishment of a revocable trust. 

Trusts are an excellent method for individuals with substantial assets to pass their wishes and wealth to others or a charitable organization when they pass. The key to an effective trust begins and ends with documentation. The proper documents, when drafted carefully by a qualified attorney, ensures your beneficiaries will reap the benefits of the trust and its property. A trust will fail, if the documentation is improper, negating the settlor’s wishes. 

What is a trust?

A trust is a legal document that contains the settlor’s final instructions about to whom his or her assets will pass when they die. There are three separate people involved in a trust creation, administration, and distribution: a settlor, trustee, and beneficiary. Their roles are as follows:

Families today, as always, come in all shapes and sizes. This includes sexual orientation. As gays, lesbians, bi-sexual, and transgender people (LGBT) age and move into retirement communities, nursing homes, and assisted living facilities, how welcome are they?

An individual who has lived a good life at 85 wants to continue living that life as he or she ages and needs assistance with self-care, regardless of where the individual lives – a retirement community, nursing home, or assisted living facility.

Many residents of such places deal with loss on a continual basis no matter their sexual orientation. There are limitations on movement – the ability to come and go as one pleases and limitations on relationships – spouses, partners, and close friends die or because they move away are too far or unable to visit regularly. So there is a tremendous loss of consortium as one ages.

Contact Information