THE MILLER ESTATE AND ELDER LAW PODCAST

Wills vs. Trusts in Estate Planning

Wills vs. Trusts in Estate Planning

In this episode, attorney Bill Miller discusses the differences between wills and trusts. He explains that a will is a legal document that outlines how your probate assets should be distributed after your death, while a trust is a legal agreement that holds assets for the benefit of individuals or purposes.

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What Is a Special Needs Trust?

What Is a Special Needs Trust?

In this episode, attorney Bill Miller discusses special needs trusts—also known as supplemental needs trusts—which are designed to protect the benefits of someone who is disabled and on Supplemental Security Income or Medicaid. He explains the two types of special needs trusts: first-party and third-party. First-party special needs trusts are for individuals who receive an inheritance or settlement, and want to maintain their benefits.

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Probate vs. Non-Probate Assets

Probate vs. Non-Probate Assets

In this episode, attorney Bill Miller discusses the difference between probate and non-probate assets. Probate assets are those that are solely owned by an individual and do not have any other legal way of transfer, while non-probate assets have designated beneficiaries or joint ownership.

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The Importance of Long-Term Care Planning

The Importance of Long-Term Care Planning

In this episode, attorney Bill Miller discusses the importance of long-term care planning and the potential financial impact of long-term care costs. He shares personal experiences of families struggling to pay for long-term care and emphasizes the need to protect one’s home and life savings.

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Nursing Home Medicaid Qualifications

Nursing Home Medicaid Qualifications

In this episode, attorney Bill Miller breaks down the topic of nursing home Medicaid. He touches on the qualifications for Medicaid and addresses common misconceptions about nursing homes and Medicaid. He also highlights problems people encounter when applying for Medicaid, including the income and asset limitations that need to be considered.

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Protecting Assets from the Costs of a Nursing Home Stay

Protecting Assets from the Costs of a Nursing Home Stay

In this episode, Bill Miller discusses asset protection planning in the context of long-term care and nursing home costs. Learn from personal experiences of families who didn’t have a plan in place and lost everything, as well as families who successfully protected their assets. Explore the different ways to pay for long-term care, including out-of-pocket, long-term care insurance, Medicare, and Medicaid. Bill delves into the asset and income limits for Medicaid qualification and the concept of spend down. He touches on the use of life estate deeds and irrevocable trusts for asset protection. Lastly, Bill emphasizes the importance of planning in advance and the five-year look-back period for Medicaid eligibility.

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Miller Estate and Elder Law

 256-472-1900
bill@millerestateandelderlaw.com

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Anniston, AL 36207

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Birmingham, AL 35209

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