by Bill Miller | Jun 9, 2018 | Estate Planning
Every family is different. Only you can know how to approach your family about something as sensitive as estate planning. But discussions like this will help their peace of mind as they deal with difficult decisions and life events.
How to Help You with Incapacity . . . and How to Pay for It.
Facing the possibility of your future needs is hard. Your family and friends may be able to provide day-to-day living assistance. Discussing how you’d like family members assist you enables them to help without being asked. This may also be the time to share how you feel about in-house and nursing home care.
Let your family know how your long-term care will be covered. For example, do you have funds saved up specifically for long-term care, have you purchased insurance to cover increased medical needs, or have you already started planning your Medicaid eligibility.
Finally, tell your family about any estate planning documents you’ve prepared. Your Health Care Proxy or Medical Power of Attorney, Living Will, and Durable Power of Attorney provide your loved ones with guidance on how to handle medical and financial decisions for you.
What You Want Them to Do with Your Stuff.
We encourage our clients to talk to their families about how to handle their possessions after they pass away. While talking about this is great, it’s even better to have a Will or trust in place that distributes your estate as quickly and painlessly as possible. You don’t have to tell your family every detail of your estate plan. However, make sure your executor knows that you have a plan, where your plan documents are located, and which attorney to contact after your passing.
How to Say Goodbye.
Talking about death can be upsetting. Let your family know you’ve made plans to make your passing easier on them. If you’ve paid for pre-funeral arrangements or have definite ideas about your memorial service, share these now.
It’s never easy to talk to your family about estate planning.
But it is necessary.
If you haven’t made your estate plan yet, don’t delay.
The attorneys at Miller Estate and Elder Law stand ready to assess your needs and develop the right plan to meet those needs. For a free consultation, contact us at 256-251-2137 or use our convenient Contact Form. We have offices in Anniston and Birmingham, and we help clients in the Gadsden, Hoover, Talladega, Vestavia Hills, and surrounding areas.
by Bill Miller | Jun 8, 2018 | Caregivers, Elder Law, Nursing Home, Special Needs
Calvin was becoming more frail every day. Daisy, his wife of 52 years, was finding it difficult to help him with his daily living activities. After several trips to the emergency room, Calvin’s doctor told them that he needed in-home nursing care. Daisy was left wondering, “What now?”
Locating the Right Caregivers
If you find yourself in this situation, the first thing to do is to find out exactly what kind of care your spouse needs. This will help you locate the right care and apply for the appropriate benefits.
For example, will your spouse need help only with activities of daily living like bathing and dressing? Or will he or she need a home health aide for skilled nursing care like taking vital signs and assisting with medication? Home caregivers may be hired through an agency or by private means while skilled health care workers are typically hired only through an agency.
Once you know what activities your in-home nursing staff will be responsible for, you can start looking for a caregiver that offers the assistance you need.
Paying for In-Home Nursing Care
In-home care is less expensive than long-term residential care, but it can still be out of reach for many people. As with long-term care, there are three basic ways to pay for in-home care:
- Self-pay. Even in-home care costs may quickly deplete your savings.
- Long-term Care Insurance. Benefits could help pay for both in-home and institutional care. Like all insurance, you have to apply and be approved. It’s likely that someone in Calvin’s position would be ineligible or would have extremely high premiums.
- Government Benefits. VA benefits might be available if you or your spouse served in the armed forces. Medicare might cover limited in-home care for a short period of time, but it’s not an option for the long haul. Medicaid does cover skilled care and assistance with daily activities.
Pre-Planning Is Best.
No one wants to think they may need in-home care, but it happens. Plan ahead with comprehensive estate planning, Medicaid eligibility planning, and purchasing insurance when possible.
The attorneys at Miller Estate and Elder Law have the experience and training to handle your concerns. Contact Miller Estate and Elder Law at 256-251-2137 to schedule an appointment. We help clients in Anniston, Talladega, Birmingham, Gadsden and surrounding communities.
by Bill Miller | Jun 8, 2018 | Elder Care Planning, Medicaid
Phil M. lived in a rehabilitation center after suffering a stroke last year. Fortunately, he qualified for Medicaid benefits that covered the high cost of treatment. However, after six months, he and his family felt he was ready to move back to the community and live the independent life he desired. A wise friend pointed them in the direction of Gateway to Community Living.
What is Gateway to Community Living?
It’s a program administered by the Alabama Medicaid Agency. Through this program, elderly people or those with disabilities may be able to live at home with community assistance.
Phil seemed like an excellent candidate for this program. His rehabilitation left him able to care for his daily needs. More importantly, he had a strong desire to live independently for as long as possible.
What services are provided?
Home and community-based programs offer a spectrum of services to meet the population’s diverse needs.
Transition coordinators work with applicants to work out eligibility. In addition, they help applicants work out a custom transition plan.
Specific benefits include:
- Financial assistance with moving costs, and deposits for rent and utilities.
- Help people find affordable, accessible housing.
- Job search assistants for applicants who are returning to the work force.
Phil was able to work with his transition coordinator to find a comfortable apartment in an independent living facility. Gateway also helped him apply for part-time jobs that fit his physical abilities.
Who can receive Gateway to Community Living assistance?
Applicants must meet the following requirements:
- Has lived in a nursing home or qualified facility for at least 90 consecutive days.
- Received Medicaid for at least one day before transitioning to community living.
- Expect to complete their transition within 180 days.
- Be physically and mentally capable of living in the community with assistance.
People who feel they might benefit from Gateway to Community Living can ask the staff at their residential facility to refer them. Patients or their legal guardians and family members may also “self-refer” either online, by email, fax, or regular mail.
The social worker at Phil’s rehab facility referred him for Gateway benefits and helped him complete the required paperwork.
Learn More About Incapacity Planning.
Maybe you have an older parent facing elder law issues. Maybe you are looking ahead to your own future. Either way, it’s important to know what rights and protections are available for senior citizens. Schedule a consultation with one of our attorneys and find out where you stand. Our phone number is 256-251-2137, or you may want to use the Contact Form on our website. We have office in in Anniston and Birmingham and assist clients in communities like Hoover, Vestavia Hills, Irondale, and Calera.
by Bill Miller | Jun 7, 2018 | Business
There are different types of business entities, each with their own disadvantages and advantages. A limited liability company might be the best structure for some companies, while others benefit more from a partnership. The same holds true for incorporation your business: is it the right move for your company at this time? Let’s take a look at some of the advantages and disadvantages of incorporating a business.
Incorporating Your Business Might Be a Good Thing.
Corporations are considered to be an entity, separate from the shareholders. Corporations can be sued, can sue others, can enter into agreements. There are some other distinct advantages to incorporating a business:
Longevity. If one shareholder leaves or sells out, the corporation still stands. The corporation does not end when an owner dies, like most sole proprietorships.
Liability. Shareholders enjoy limited liability, especially compared to other business types of business entities. However, officers of a corporation may be held personally liable for actions taken as an officer.
Taxes. Some corporations may meet the requirements to elect S Corporation status. The corporation, then, would be taxed like a partnership. This may result in lower taxes for the owners.
Residency. Unlike some other states, Alabama does not have a residency requirement. An entrepreneur living in Michigan, then, could incorporate a business in Alabama.
But There Are Some Disadvantages.
Of course, the corporate structure is not perfect for everyone:
- Start Up Costs. Forming a corporation is more expensive and time consuming than forming other types of business organizations.
- More paperwork. More documents are required to start a corporation compared to other entities. In addition, corporations face more regulations that require them to file paperwork.
- Taxes. An incorporation may result in higher taxes. Some income is taxed twice, once for the corporation and once for the shareholder.
We Can Help with Business Concerns.
The attorneys at Miller Estate and Elder Law know how to help you make informed decisions about your business. For a free consultation, contact us at 256-251-2137 or use our convenient Contact Form. Our offices are located in Anniston and Birmingham. We also assist many clients in the Gadsden, Hoover, Talladega, Vestavia Hills, and surrounding areas.
by Bill Miller | Jun 6, 2018 | Elder Law, Medicaid, Medicaid Planning
Applying for Medicaid is tricky, and timing is important. In fact, Medicaid planning is best started years before you actually need to apply for benefits. How your property is owned, and when it was titled, makes a big difference. One way to plan ahead for Medicaid is by using a life estate deed.
What is a Life Estate Deed?
A deed is a legal document used to transfer property interests. Just as there are different types of real estate transfers, there are different types of deeds: general warranty deeds, statutory warranty deeds, quitclaim deeds, and life estate deeds.
A life estate deed is often used in estate planning. It’s also useful for Medicaid planning. Some of the benefits offered when using a life estate deed include:
- As life tenant, the property owner continues living at the property until death or incapacity.
- At the death of the life tenant, the property immediately passes to the other owners, known as remaindermen or remainder beneficiaries.
- Property passed by life estate deed is not included in probate estate. (However, it is still included in taxable estate.)
Medicaid Eligibility and Your Life Estate Deed
The Medicaid application process involves determining eligibility based, in part, on available income and resources. If an applicant owns property outright, it typically will be considered a resource. In some cases, people are denied Medicaid eligibility because their income or resources exceed the limits.
However, Alabama Medicaid guidelines do not consider property held under a life estate deed to be a resource – unless the property was transferred within the five year review period going back from the date of the application.
How might this play out? Well, if Maggie applies for Medicaid. She does not own her home outright, but has signed a life estate deed naming her children as the remainder beneficiaries. Her other resources put her well below the resource limit. Medicaid ignores the property that’s held under the life estate deed and approves her application. Several years later, Maggie passes away and the remainder beneficiaries take possession of the property. There are tax consequences of using a life estate deed that need to be considered before proceeding.
Learn More About Life Estate Deeds and Medicaid.
Even if you haven’t started Medicaid planning before you need to apply, you can still benefit from the advice you’ll receive from the attorneys at Adams & Miller, P.C.
Don’t let Medicaid eligibility issues give you an unpleasant surprise. Know where you stand now, and how to plan for the future. Talk to an Alabama attorney with experience and training to handle your concerns. Contact Miller Estate and Elder Law at 256-251-2137 to schedule an appointment. We help clients in Anniston, Talladega, Birmingham, Gadsden and surrounding communities.
