Postings

Applying for Medicaid - Trap Trusts

jokaydwe — Tue, 13 Jun 2023 17:52:09 +0000

Tuesday, June 13, 2023

Unfortunately, many trusts will trap assets and force them to be spent for the medical costs of an ill spouse, when the assets could otherwise have been saved from Medicaid spend down, and could have been used for the well spouse.

Applying for Medicaid - Estate Planning Changes

jokaydwe — Wed, 07 Jun 2023 19:33:53 +0000

Wednesday, June 7, 2023

Generally once one spouse has qualified for Medicaid, there will be a need for the other spouse to re-do their estate and incapacity planning.

Applying for Medicaid - The Process, and How a Lawyer Can Help Navigate the Process

jokaydwe — Wed, 31 May 2023 18:16:24 +0000

Wednesday, May 31, 2023

A Medicaid application is generally begun by a call to the local Medicaid Office.

Generally, information about the Medicaid applicant is taken, and a case is opened by the Medicaid staff.

Applying for Medicaid - How a Good Elder Law Attorney Can Help

jokaydwe — Tue, 23 May 2023 17:38:35 +0000

Tuesday, May 23, 2023

A well spouse can only keep certain assets if their ill spouse needs Medicaid.

Applying for Medicaid - What Information is Needed

jokaydwe — Fri, 19 May 2023 22:08:09 +0000

Friday, May 19, 2023

The Medicaid application process can seem long and complex. That is because it is.

It can take anywhere from several days to several weeks to gather all the information you need to make a Medicaid application.

Purchase of Real Estate, and 1099-S Requirements

jokaydwe — Tue, 11 Oct 2022 19:25:57 +0000

Tuesday, October 11, 2022

    When someone purchases real estate, except in very limited circumstances, a 1099-S form has to be issued and filed with the IRS.

   This is usually handled by a title company.

   If the purchaser does not get title insurance, this is often missed.

Who is Notified of a Guardianship and/or a Conservatorship

jokaydwe — Wed, 05 Oct 2022 20:11:40 +0000

Wednesday, October 5, 2022

Sometimes there is a concern that someone should NOT be notified that a guardianship or a conservatorship is being sought for a person.

For example, there may be a sibling or an adult child with whom the person has fallen out, or from whom the person is estranged.

Saving Money By Failing To Do An Incapacity Plan

jokaydwe — Fri, 30 Sep 2022 17:26:00 +0000

Friday, September 30, 2022

As part of a good estate plan, most people also do an incapacity plan, so that someone else can manage their affairs if they ever become incompetent

A major component of some incapacity plans is a trust, which many people think of as simply an estate plan.

Saving Money By Avoiding an Expensive Estate Plan - Part II

jokaydwe — Tue, 20 Sep 2022 21:58:48 +0000

Tuesday, September 20, 2022

In addition to the savings in state estate taxes in estates (See Part I) where a couple has assets that total more than a million dollars, including their home, their life insurance, and their retirement assets, if a couple either has no estate plan at all, or has a simple will based estate p

Saving Money By Avoiding An Expensive Estate Plan - Part I

jokaydwe — Wed, 14 Sep 2022 16:40:19 +0000

Wednesday, September 14, 2022

One of the most profitable areas for lawyers involves trying to fix problems that arise after someone has died or become incompetent, when the person has “saved” money by using an inadequate estate or incapacity plan, or has no estate or incapacity plan in place at all.