From the category archives:

Estate Planning

FAQ: What happens if I die without a will?

by Jerrold Bartholomew February 14, 2009

Dying without a will, or intestate, means that your estate will be distributed according to the default provisions of state law. For a variety of reasons, this can make the administration of your estate take longer, cost more, and create divisions within a family. Why? Without an up to date will, it is easy for [...]

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New Medicaid Numbers for 2009

by Jerrold Bartholomew February 1, 2009

The Department of Human Services for the State of Michigan has announced new numbers for 2009. Every year the numbers concerning Medicaid eligibility for long-term care are adjusted to reflect increases in the cost of living.
The new community spouse resource allowance is a minimum of $21,912.00 and a maximum of $109,560.00. This number is important [...]

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FAQ: What does it mean for an annuity to be “Medicaid friendly”?

by Jerrold Bartholomew January 29, 2009

It is very common to hear annuities described as “Medicaid friendly.” Most people hearing the words “Medicaid friendly” would assume that assets placed in such an annuity will be protected from the cost of long term care and indeed, they may even be told so by an insurance professional or financial advisor. But under Michigan [...]

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Tougher estate recovery coming to Michigan?

by Jerrold Bartholomew November 20, 2008

The Center for Medicare and Medicaid Services (CMS) has apparently rejected Michigan’s proposed estate recovery program. Michigan’s proposed legislation was unique not only for being last in the union to be enacted, but also for being exceptionally lenient. It is therefore reasonable to assume that Michigan will be required to enact a more aggressive approach [...]

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Getting the most from veterans’ benefits

by Jerrold Bartholomew September 19, 2008

Many veterans are unaware of the Aid and Attendance Pension that is available to help them with their medical expenses, which include the cost of assisted living. Some veterans are simply unaware of this benefit. Others have been told that they do not qualify based on “having too much money.” It is important to understand [...]

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Losing your group health insurance

by Jerrold Bartholomew September 4, 2008

Many seniors receive group health insurance coverage from their spouse’s retirement plan. What many seniors don’t realize is that losing one’s spouse can also mean losing that group health insurance coverage. For seniors on a fixed income, the additional health insurance premium can be an unpleasant surprise. This article from AARP explains that there are [...]

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FAQ: I have been turned down for Veterans’ Benefits. What now?

by Jerrold Bartholomew August 1, 2008

Question: I approached my local Veterans’ Administration office for information about the Aid and Attendance Pension. They told me I had too much money to receive the pension. But I have reoccurring medical expenses of more than $1,000.00 per month. Is there anything I can do?
Answer: This is a delicate situation. On the one hand, [...]

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FAQ: What assets are exempt from Medicaid qualification?

by Jerrold Bartholomew July 31, 2008

QUESTION: I have heard that you are allowed to keep some things and qualify for long-term care Medicaid. What are you allowed to keep?
ANSWER: It is true that some property may be exempt for purposes of Medicaid qualification. And indeed, converting non-exempt assets to exempt assets is one valuable method of spend down. The following [...]

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FAQ: Do I have to sell my home?

by Jerrold Bartholomew July 30, 2008

QUESTION: I am concerned about my parents. My dad just entered the nursing home. His care costs more $6,000.00 per month and my mother is almost out of savings. Does she have to sell the house (which is worth about $250,000.00) to pay for my dad’s care? And what about estate recovery? What is that?
ANSWER: [...]

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Litigating the Estate of Martin Luther King, Jr.

by Jerrold Bartholomew July 15, 2008

Recent litigation over the estate of Martin Luther King, Jr. provides an illustration of problems that can develop in the administration of a trust or estate and an opportunity to discuss ways to avoid disputes in estate and trust administration. In the case of the King family, Dexter King is president of the Estate of [...]

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