by Bill Miller | Aug 29, 2018 | Business
It’s often said: Good fences make good neighbors. There’s some dispute about the literal interpretation of that saying, which is taken from a Robert Frost poem. However, there are times when boundaries are a good thing. That’s especially important in business relationships where everyone needs to know what they can and cannot do. A good contract can make that happen.
Contracts Need to Be Complete
A good contract should include the terms and conditions agreed upon by the parties. What those terms and conditions are will be determined by the type of deal being memorialized. Some industries, like real estate, may have contract forms that are dictated by law.
Don’t be afraid to ask questions or point out omissions in a contract. Remember that contract could affect your life and your bottom line.
Contracts Should Be Clear and Unambiguous
The language in the contract should be clear, even if it seems like it’s legalese or fine print. When contract provisions are ambiguous or could be interpreted in more than one way, the party that drafted the contract is usually held responsible.
Parties are also responsible for disclosing any information pertinent to the transaction that led to the contract being written. For example, the seller of a property must disclose certain problems to the buyer of that property.
Contracts Need to Be Enforceable
All the parties must agree to the contract, freely and without being under duress. The parties also must have the ability to understand the contract.
Contracts Can Address Problems Before They Happen
In addition to just making sure the language is clear and complete, contracts include provisions covering how to handle contract disputes.
For example, the contract may state what courts will decide on major disagreements. If parties from different states fight about performance of the contract, in which state will they file the ensuing lawsuit? In an effort to avoid costly litigation, contracts may include language calling for alternative dispute resolution like mediations or arbitrations.
Force majeure provisions cover unavoidable delays in performance of a contract, which could head off potential litigation.
Always Talk to an Attorney Before Signing a Contract.
What may seem obvious on its face could actually have unintended consequences for everyone. Make sure you fully understand a contract before signing it.
The attorneys at Miller Estate and Elder Law assist clients with their business interests, including writing and analyzing contracts. 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.
by Bill Miller | Aug 24, 2018 | Probate
Alexander named his oldest son, Caleb, the executor (also known as personal representative) of his estate. When Alexander passed away last month, Caleb was left grieving and wondering, “What does an executor or personal representative do?” His father’s estate planning attorney was able to shed some light on the subject.
Gather Assets
As personal representative, Caleb is responsible for finding and protecting all of his father’s property. Anything Alexander will become estate assets to be used for paying claims and distributing to heirs.
Sometimes the decedent, Caleb’s father in this case, maintain accurate, up-to-date records. This makes the personal representative’s job much easier. Whether easy to find or not, though, Caleb has to find every asset his father owned.
In addition to finding the assets, the personal representative must protect them also. This may require the estate to purchase licenses, register vehicles, and buy insurance. Care should be taken to avoid wasting or spoiling assets that require special attention.
By the way, “assets” may include: stocks, bonds, promissory notes, partnership and business interests, life insurance policies payable to the estate, household goods, personal property, artwork, jewelry, china, silverware, valuable collections, vehicles, safe deposit boxes, and real estate.
Find and Pay Valid Claims
The personal representative is responsible for notifying creditors of the decedent’s death. There are two ways to do this:
- Publishing a notice in a newspaper with general circulation in the county in which probate was filed; and
- Sending written notice to all known creditors.
Creditors have to submit their claims within a certain time period or they may forfeit their claim.
Common debts and liabilities include: notes, mortgages, accounts payable, and unpaid taxes.
Finalize the Estate
The personal representative typically starts and ends the probate court proceeding. Before finalizing the estate, however, all property remaining in the estate will be disposed of. This usually involves distributing it to heirs named in the decedent’s Will. However, if there’s no Will to probate, all property will pass according to Alabama’s intestacy laws.
The personal representative files an initial inventory of assets within 60 days of being appointed. Depending on the length of time required to finalize probate, the personal representative may file partial accountings until the final settlement is filed.
Learn More About Forming a Business in Alabama.
We’ve only listed three duties for the personal representative. However, each of those tasks involves multiple steps. It’s critical to obtain the services of an attorney to make sure everything is done correctly.
The attorneys at Miller Estate and Elder Law efficiently assist their clients with probate and estate planning. For a free consultation, contact us at 256-251-2137 or use our convenient Contact Form. You may also want to check out our free videos. Although we’re located in Anniston, we also help clients in the Birmingham, Gadsden, Hoover, Talladega, Vestavia Hills, and surrounding areas.
by Bill Miller | Aug 22, 2018 | Medicaid, Medicaid Planning, Medicaid Qualification, Nursing Home
Medicaid, though funded by the federal government, is managed by state agencies. Each agency has the power to customize their program, and this can include imposing co-payments, deductibles, and so on. If you or a loved one receives Medicaid benefits, you need to know how Medicaid handles out-of-pocket costs.
Do I have to pay out-of-pocket expenses?
Many patients are expected to pay co-payments on expenses like:
- Office visits to doctors, optometrists, nurse practitioners, and other healthcare providers).
- Hospital care, including those provided at federally qualified health centers, rural health clinics, inpatient, outpatient, and ambulatory surgical centers.
- Durable medical equipment,
- Medical supplies and appliances, and
- Prescription drugs.
The co-payments are small. However, health care providers cannot deny services if a Medicaid recipient cannot pay the co-payment.
Are any services exempt from out-of-pocket charges?
Yes. Out-of-pocket fees by law cannot be charged for:
- Emergency services,
- Family planning services,
- Pregnancy-related services, or
- Preventive services for children.
Are any groups exempted from paying out-of-pocket fees and co-payments?
Yes, some Medicaid recipients are not expected to pay such fees:
- Children,
- Terminally ill people,
- Nursing home residents,
- Native American Indians with an active user letter from Indian Health Services,
- People receiving emergency treatments, and
- People receiving family planning services.
Check with your Medicaid caseworker to make sure you are not charged for co-payments and out-of-pocket expenses if you are included in one of these groups.
Will Medicaid repay my out-of-pocket expenses?
Not exactly.
Sometimes Medicaid will be awarded retroactively. This means that earlier costs that are eligible for Medicaid coverage may be paid. However, the patient is responsible for contacting the health care provider responsible for anything they paid for themselves. The provider will submit the services to Medicaid and typically reimburse the patient after receiving the payment from Medicaid.
First, You Have to Get Through the Medicaid Application Process.
It’s complicated and difficult, but we can help. We have helped many clients navigate federal and state guidelines to get the benefits they deserve.
The attorneys at Miller Estate and Elder Law assist their clients with all phases of estate planning and incapacity planning. 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.
by Bill Miller | Aug 17, 2018 | Estate Planning, Special Needs, trust
Julia’s daughter, Jenna, is a happy 17-year old woman. She participates in social activities, attends school, and has a job despite being born with multiple birth defects. While she’s satisfied with the progress Jenna has made, Julie is worried about her future. She wonders if her daughter’s needs can be anticipated and provided for in her estate planning.
The Basics
Typically, an estate plan consists of a Will, a durable power of attorney, and an advanced health care directive like a health care power of attorney. But complete estate plans address all of the testator’s needs and some people need more than the basics.
Julia can provide for Jenna in her Will. She could also have Jenna’s inheritance transferred to a trust for her benefit.
Extra Protection
Parents of a disabled child may have options that ensure their child’s future support.
- Special Needs Trust. This type of trust may calm at least some of Julia’s fears. The trust would be funded with money and assets that a trustee could use for Jenna’s support. However, if the trust is not properly drafted, it could reduce or eliminate Jenna’s eligibility for public benefits like Medicaid.
- Medicaid Income Trust. Also known as a Miller Trust or a Qualified Income Trust, Jenna can transfer some of her monthly income to this trust to remain below Medicaid’s income limits.
- ABLE Account. Julia might consider setting up savings plan called an ABLE account. ABLE stands for Achieving a Better Life Experience. Anyone can contribute to Jenna’s account, and the funds will be used for Jenna’s support.
- Guardianship. Jenna will be considered an adult at age 18, even though she has the mental age of a 10-year old child. If she has not already done so, Julia should talk to an attorney about setting up a guardianship for Jenna. Although disabled people often need to be as independent as possible, they remain vulnerable to people who may take advantage of them.
It can be difficult to find a way to provide for a disabled child’s future while preserving eligibility for public benefits and their own independence.
Consult with an Alabama Estate Planning Attorney.
Another thing Julia could do? Provide a letter of intent for future caregivers that gives instructions for Jenna’s care. While not technically an estate planning document, Julia can keep this letter with her important papers.
The attorneys at Adams & Miller have the experience you need to get the estate plan you and your loved ones deserve. Contact Adams & Miller, P.C. at 256-251-2137 to schedule an appointment or fill out our convenient Contact Form. We help clients in Anniston, Talladega, Birmingham, Gadsden and surrounding communities.
by Bill Miller | Aug 15, 2018 | Elder Law, Estate Planning, Medicaid Planning
Ned was a prominent business man in the community before suffering a devastating stroke. Sally was young and carefree, until she was involved in a catastrophic car accident that nearly took her life. And Jane’s mother, Lucy, was near death and worried about where all her property would go after she passed away. These individuals have something in common: they were involved in emergencies that could have been helped – or were helped – by estate planning.
The Need for Incapacity Planning
Ned and his family had absolutely no warning before he fell ill. One day he was running his business and planning a vacation with his wife. The next, he was lying in the Emergency Room. His family did not know where to turn when handling his complicated finances and his business interests.
Ned had never signed a durable power of attorney, which would have remained active even after his incapacity. If he had, his family would have known who was responsible for taking over his financial affairs. He also had never put together any business succession plans with his associates. They were left scrambling for ways to keep the companies afloat.
The Need to Make Health Care Decisions
Sally’s injuries were life-threatening and life-changing. If she lived, she would face a tough road ahead. Her family had many tough decisions to make – but no one was authorized to make them.
She also had never signed a durable power of attorney or a health care power of attorney. Because Sally was over age 18, her mother was unable to make medical or financial decisions for her. The medical issues were the most pressing. Her doctors needed to talk to someone who could make decisions about Sally’s care. Finally, Sally’s mother was forced to start a court proceeding to become her guardian and conservator.
The Need to Have a Plan
Jane’s mother would be entering a hospice soon. She knew she was not going to survive her liver cancer. Jane wanted her mother to be as comfortable as possible, but something was bothering Lucy. She had never made a Will. It was important to her that she use her last days to make a good plan for her estate and her heirs.
Jane contacted an attorney who met with her mother. Because her mother was still mentally alert, she was considered to have the capacity to prepare her Will. She knew who her beneficiaries were, and what property she owned. The attorney prepared the Will, which Lucy signed a week before death.
Good Estate Planning is Key.
We can’t always know when something bad is going to happen to us. However, we can have plans in place that will handle those bad times if they come.
The attorneys at Adams & Miller, P.C. know how to help you with estate 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.
