Posts tagged as:

Estate Planning

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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Caregiver Stress, Compensation, and Medicaid Qualification

by Jerrold Bartholomew July 12, 2008

Any adult caregiver who has control over a parent’s assets (such as by power of attorney, as a trustee, or through joint bank accounts) can be in a very dangerous position for several reasons.
First, adult caregivers who receive compensation are vulnerable to charges of undue influence, constructive trust and other damaging allegations. How do these [...]

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Who Will Make Your Decisions?

by Jerrold Bartholomew July 5, 2008

Perhaps the most important lesson an estate planning attorney can convey to a client is that your end-of-life decisions will be made for you-and possibly expose your estate to significant and unnecessary expense-unless you create legally enforceable estate plan documents. Without a clear expression of your wishes, some of your most important decisions may [...]

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Revoking an Irrevocable Trust

by Jerrold Bartholomew June 3, 2008

There are a variety of reasons why one may wish to rescind an irrevocable trust, even if only in part. For instance, it may be the case that an irrevocable trust was established in order to shield assets from the cost of long term care, but long term care is needed before the five year [...]

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New Wi-fi Device Calls Your Cardiologist in Case of Heart Attack

by Jerrold Bartholomew May 13, 2008

The same technology that allows coffee and internet afficiandos to stay in one cafe for hours on end is now helping seniors to retain their independence and cope with serious health issues. A new Wi-Fi device is capable of alerting your physician in case of heart attack. Thoughtful implementation of new technologies offers a great [...]

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Increasing the Community Spouse Resource Allowance

by Jerrold Bartholomew May 3, 2008

When one spouse requires long-term care in Michigan, the Department of Human Services will do an assessment of the couple’s total resources. Without any planning or asset positioning, the spouse at home will be permitted to keep 1/2 of the couple’s assets as of the date the spouse needing long-term care entered either the hospital [...]

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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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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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