by Bill Miller | Nov 24, 2018 | Estate Planning, Medicaid, Medicaid Planning
Some things just don’t go together, like oil and water or peanut butter and sardines. Sometimes it’s not a big deal – or the resulting problem is minor. But when something as important as your Medicaid eligibility is involved, that’s a different story. For example, do-it-yourself estate planning and Medicaid don’t mix at all. Here’s why:
What is DIY estate planning?
DIY stands for do-it-yourself. Americans are fond of taking on DIY projects ranging from planting an herb garden to building an addition onto their homes. However, your estate plan may be a lot more complicated and last a lot longer than the deck you built last year.
Due to the Internet, exposure to do-it-yourself estate planning has increased. People can click a few buttons and have a Will ready for signing. But DIY estate planning cannot analyze your particular circumstances, personalize your estate plan, listen to your concerns, and give information specific to special situations.
And it’s unlikely that DIY estate planning can address the need to plan for Medicaid eligibility.
What happens if you need Medicaid
Planning for expensive medical treatments, including long-term care, must begin before you need that care. DIY typically does not take that into account. You need an attorney who can review the facts of your case, then use knowledge of the law and experience to find the best options.
For example, a website algorithm may not take into account the Medicaid five-year look back period. Medicaid case workers will review an applicant’s financial history for 60 months prior to the date of application. Someone who uses DIY estate planning may sign the Will, then give assets to family members to decrease the value of his or her estate. Property may be titled or transferred in such a way that Medicaid eligibility is not affected. If done improperly, transfers or gifts made within that look back period may decrease, delay, or even prevent Medicaid benefits.
A lawyer who knows Medicaid can offer advice on how to avoid such penalties.
Medicaid Rules and Requirements Are Complicated
Don’t let DIY estate planning stand in the way of receiving benefits you deserve. Schedule a consultation with one of the attorneys at Miller Estate and Elder Law. Our phone number is 256-472-1900. Miller Estate and Elder Law is now located at 818 Leighton Avenue in Anniston, but we serve clients in communities like Hoover, Vestavia Hills, Irondale, and Calera.
by Bill Miller | Nov 20, 2018 | Elder Law, Medicaid Planning
Life throws curveballs sometimes, and we have to be ready. In her 40s, Joanie thought Medicaid planning was far ahead of her. She put off talking to her attorney about Medicaid planning. Unfortunately, she suffered permanent traumatic injuries as a result of a car accident. Her family frantically searched for ways to pay for Joanie’s 24/7 nursing care. As they started the Medicaid application process, they wished Joanie would have done some Medicaid planning.
Why Start Medicaid Planning?
Long-term care is expensive. There are basically three ways to pay:
- Self-pay, which can deplete a person’s life savings;
- Long-term care insurance, which may charge high premiums or be impossible to get; or
- Government benefit programs, like Medicaid.
Applying for Medicaid is not easy. For one thing, Medicaid uses a 60-month look back period. This means they review an applicant’s financial records for the 60 months prior to his or her application date. Certain transactions may cause Medicaid benefits to be delayed or even denied. However, Medicaid planning can take care of this before Medicaid is even needed.
For example, an individual might change their property titles or transfer all their property to a trust or just outright give real property or high-end assets to heirs. This type of activity must be done before the 60 month look back period, though.
How to Start Medicaid Planning.
Consult with an attorney who understands the Medicaid process. Specifically, you will want to talk to someone who knows
It may be possible for you to re-title your property. This can be tricky and lead to unintended – an unwanted! – consequences if done incorrectly.
An attorney who understands Medicaid planning may be able to give you more information about long-term care insurance. It’s not for everyone but can be an excellent way to pay for long-term care instead of digging into savings and retirement accounts.
Finally, there are trusts that may allow you to safeguard at least some of your hard-earned assets for your heirs.
Don’t Wait.
The attorneys at Miller Estate and Elder Law know how to help you with Medicaid planning. For a free consultation, contact us at 256-251-2137 or use our convenient Contact Form. We also offer free workshops and guides with more information about topics that matter to you. Although we’re located in Anniston, we also help clients in the Birmingham, Gadsden, Hoover, Talladega, Vestavia Hills, and surrounding areas.
by Bill Miller | Nov 19, 2018 | Medicaid, Medicaid Planning, Medicaid Qualification
If you have ever spent any time in an emergency room, you know how stressful it is. You may find yourself sitting beside a loved one anxiously awaiting a diagnosis. Or maybe you will be the one in need of emergency care. Either way, you may find yourself wondering how to pay for future medical treatments and long-term care. Medicaid may be an option, but first you need to find out if you or your loved one is eligible for Medicaid. Understanding Medicaid and its eligibility requirements might help.
First, Medicaid is funded by the federal government, but administered by individual state agencies. The program supplies health care for people in need. However, not everyone can receive Medicaid. Applicants to the program must meet strict requirements to qualify.
Understanding Medicaid Medical Eligibility
Some people think Medicaid is only for elderly people. However, there are several programs within Medicaid that aid other groups, like pregnant women and children.
Eligibility requirements vary depending on the program you apply for. No matter which program you choose, however, you must show a medical need, be disabled, or be blind. For example, to qualify for the Medicaid for Elderly and Disabled program, you may need to prove that long-term nursing care is needed.
Applicants also must meet income and resource limits to qualify for Medicaid coverage.
Understanding Medicaid Financial Eligibility
Income is only one test used to determine Medicaid eligibility. Applicants must also prove their assets and resources are within limits in most Medicaid programs. Also, income, asset, and resource limits may vary. For example, Medicaid limits for 2018 are:
- Qualifying Through SSI: Aged, blind, or disabled individuals may earn $770 per month for one person, $1,145 for a couple. Resources cannot exceed $2,000 (single) or $3,000 (couple) per month.
- Nursing Home Medicaid: Individuals eligible for institutional care have an income limit of $2,250 per month and a $2,000 resource limit as of the first day of the month.
- Home and Community Based Waivers: The limit is $2,250 per month for income and $2,000 per month for resources.
This list does not include other programs, such as those for children, parents and caretaker relatives, pregnant women, among others.
Applying for Medicaid Is Hard. We Can Help.
The attorneys at Miller Estate and Elder Law understand the estate planning needs of their clients. Contact Bill Miller at 256-251-2137 to schedule an appointment. Though our office is now located at 818 Leighton Avenue in Anniston, we serve clients in Gadsden, Hoover, Talladega, Vestavia Hills, and surrounding areas.
by Bill Miller | Nov 14, 2018 | Estate Planning
Holidays and families seem to go together, even when things are not perfect. For example, as Molly looked across a holiday table surrounded by family, she worried about their futures. Her son was there with his daughter, who was intellectually disabled. Molly’s daughter arrived with her second husband and the two children from her first marriage. Her younger son seemed to be doing okay, except that he often borrowed money from her. Molly wondered how her family would survive after she was gone. Would they make the right decisions and have the support they needed? She decided it was time to talk to her family about estate planning.
Talk About Your Estate Planning
An estate plan doesn’t just affect you – your family’s future also may depend on it. While it is not necessary, or even a good idea, to discuss every detail of your estate plan, your family needs to know the following:
- The name and contact information of your estate planning attorney;
- Where your estate planning documents, both originals and copies, are kept; and
- As much of your plan as you feel comfortable talking about.
You could meet with your family as a group. However, if your Will contains anything that might be upsetting, you might consider meeting with your family individually. In addition to your own plans, you could use this time to discuss another important topic – their plans.
Talk About Their Estate Planning
Since every adult needs to have an estate plan, this may be the perfect opportunity to encourage your family members to do their own. A basic estate plan typically consists of the following documents:
- A Last Will and Testament,
- A durable power of attorney, and
- Some form of advanced directive, like a health care power of attorney and living Will.
Estate plans are not just about death, though. A durable power of attorney names someone who may act on your behalf in legal and financial affairs if you become incapacitated. An advanced directive allows you to name someone to make medical decisions for you if necessary.
Trusts are also an option, with a revocable living trust being one way to transfer assets quickly to family members by avoiding probate. Also, trusts can address specific situations in your family.
For example, Molly’s son has a child with special needs. In addition to basic estate planning, he may establish a special needs trust for her future care. Molly’s daughter may use a trust to protect her children’s inheritance if she passes away before her second husband. And Molly’s youngest son should have his own basic estate planning, but Molly may also want to establish a spendthrift or discretionary trust to protect his inheritance.
Do You Need to Talk to Your Family About Your Estate Planning?
First, you need to actually have an estate plan! For a free consultation with an experienced Alabama estate planning attorney, contact us at 256-472-1900. Miller Estate and Elder Law is now located at 818 Leighton Avenue in Anniston, but we serve clients in Gadsden, Hoover, Talladega, Vestavia Hills, and surrounding areas.
by Bill Miller | Nov 9, 2018 | Business
With thousands of lawyers to choose from, how will you know who to pick? As they started a new business in Anniston, Elaine and Paul were concerned. They knew they needed the advice of a business attorney. However, they did not know whether to hire locally or go to Birmingham. They needed to know why they should choose an Anniston Business Lawyer.
A local attorney knows the community.
For business legal matters, you want someone who understand the local community, especially the business community. Sometimes it’s not what you know, but who you know.
An Anniston business lawyer knows and understands how things tick in Anniston. In fact, he or she may even have memberships in local civic and business organizations.
Elaine and Paul took advantage of the local network by hiring an Anniston business lawyer.
A local attorney knows the law.
Okay, any good attorney knows state and federal laws. However, an Anniston business lawyer is more likely to know about local ordinances, regulations, and other pertinent laws.
Elaine and Paul learned more about Anniston and Calhoun County laws from local attorney than they even expected. This helped expedite issues that cropped up related to their business.
A local attorney knows local government and courts.
This type of information could come in handy if a business owner runs into problems with codes, permits, and any unusual city or county laws. An Anniston attorney probably has a better understanding of how local courts work. In fact, he or she probably knows at least some of the people working in the courthouse.
Elaine and Paul were elated that their new Anniston business lawyer knew exactly who to talk to when problems cropped up.
A local attorney is easy to visit.
You may need to make an appointment before talking with your attorney. At least you will not have to waste a lot of time, energy, and gasoline driving to and from your attorney’s office.
Elaine and Paul appreciated the fact they did not have to spend hours on the road traveling to and from their attorney’s office.
Learn More About Anniston Business from an Anniston Business Lawyer.
The attorneys at Miller Estate and Elder Law efficiently assist their clients with business matters. For a free consultation, contact us at 256-251-2137 or use our convenient Contact Form. Although we’re located in Anniston, we also help clients in the Birmingham, Gadsden, Hoover, Talladega, Vestavia Hills, and surrounding areas.
