THE MILLER ESTATE AND ELDER LAW PODCAST
Common Pitfalls and Mistakes of Self-Help Estate Planning
In this episode, attorney Bill Miller discusses common mistakes and pitfalls of self-help estate planning.
Guardianships and Conservatorships vs. Powers of Attorney
In this episode, attorney Bill Miller discusses the differences between guardianships and conservatorships versus a power of attorney.
The 3 Steps You Need to Take Right Away to Protect You and Your Family When You Get a Dementia Diagnosis
In this episode, attorney Bill Miller discusses the three steps to take immediately when there’s a dementia diagnosis to protect you and your family.
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.
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.
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.
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.
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.
Revocable vs. Irrevocable Trusts
In this episode, attorney Bill Miller discusses the differences between revocable and irrevocable trusts. Revocable trusts are flexible and allow the grantor to be the trustee and beneficiary while alive. These types of trusts avoid probate and can be amended or modified at any time. On the other hand, irrevocable trusts provide asset protection from creditors and nursing homes, but require the grantor to give up control of the assets. These trusts are less flexible and harder to change.
All About Trusts
In the latest episode of the Miller Estate & Elder Law podcast, estate planning attorney Bill Miller discusses trusts and the important role they play in estate planning. He addresses common misconceptions about trusts, and explains why they are not just for the wealthy.
Miller Estate and Elder Law
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