From the monthly archives:

April 2008

Beware Grannies on Facebook

by Jerrold Bartholomew April 25, 2008

A recent article in The Economist explained how some senior citizens used Facebook to fight back when their investments in Asset Backed Commercial Paper ended up in bankruptcy court. Sometimes the innovations wrought by the internet can be a little startling, even if pleasantly so. The idea that a broad spectrum of investors, including [...]

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Understanding Medicaid Planning

by Jerrold Bartholomew April 24, 2008

Sue Schiebel has written an excellent article on Medicaid Planning. While her article concerns MassHealth, which is the Massachusetts Medicaid program, the rules and ideas explained are the same in Michigan. She writes:
A lot of middle-aged people don’t realize Medicare, the federal health insurance program, pays for a very limited amount of skilled nursing home [...]

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Learning to Juggle with Your Property

by Jerrold Bartholomew April 24, 2008

Many of my clients are uneasy about placing their assets into a trust as part of an asset protection plan. In order to demystify the process and help you understand why you might consider having a trust drafted for your specific needs, I would like to explain some of the reasons you might consider having [...]

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Retirement Assets and Medicaid Planning

by Jerrold Bartholomew April 7, 2008

Retirement assets (401ks, IRAs, etc) are considered available assets for purposes of Medicaid qualification in Michigan. In simple terms, that means that those funds have to be spent down until the threshold for asset eligibility is met. In the case of a single person, asset eligibility is generally about $2,000.00, with some additional allowances for [...]

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Estate Planning and Michigan Real Property Taxes

by Jerrold Bartholomew April 4, 2008

Estate Planning often involves transfer of real property. Care must be taken to avoid incurring unnecessary property taxes as an asset protection plan is carried out.
One of the biggest obstacles to overcome is the so-called uncapping of property taxes. In Michigan, property taxes can only increase by a fixed percentage each year, regardless of the [...]

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