Showing posts with label asset protection. Show all posts
Showing posts with label asset protection. Show all posts
Thursday, December 5, 2019

Irrevocable Trust Fails to Protect Assets from Availability for Medicaid

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"Comfort clauses" in an irrevocable trust are dangerous, and can undermine the objectives of the trust .  A New York appeals court...
Tuesday, April 11, 2017

Pocket Deeds Are Horrible Planning Instruments

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I recently discussed with an estate planner the advisability of using a “pocket deed” to fund a revocable trust.  A pocket deed is a deed...
Monday, August 1, 2016

Trust Naming Medicaid Applicant as Co-Trustee Is Available Asset

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If planning for long-term care involves Medicaid eligibility planning, the applicant must turn over ownership and control of assets.  Ot...
Tuesday, July 19, 2016

Fraudulent Transfer Claim Against Nursing Home Resident's Sons Survives

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Nursing homes and state departments of Medicaid will become more proficient in developing and implementing techniques to pursue assets in re...
Saturday, July 16, 2016

"Comfort Clauses" Hobble an Irrevocable Trust for Medicaid Planning

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When I counsel clients regarding irrevocable trusts, clients often discuss the possibility of provisions giving them more control over th...
Wednesday, July 13, 2016

Ohio Attorney General Issues Warning About Grandparent Scam

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Ohio Attorney General Mike DeWine recently issued a press release  warning of phone scams targeting Ohio grandparents following an inc...
Thursday, April 16, 2015

Tenant's Estate Sues Landlord for Buyout Payment- Contracts and Agreements Are Assets

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Estate planning is a discipline that requires periodic consideration and reconsideration of your circumstances as they change. When the e...
Monday, November 3, 2014

Man Can't Challenge Discharge of Brother's Debt for Mom's Care under Filial Responsibility Law

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A bankruptcy court has ruled that a man does not have standing to prevent the discharge of his brother's debt owed to their mother...
Tuesday, October 7, 2014

Elderly Couple May Be Responsible for Adult Son's Unpaid Medical Bills

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An elderly Pennsylvania husband and wife are being asked to pay their deceased adult son's medical bills under a law making family membe...
Thursday, July 10, 2014

Inherited IRA's are not Exempt from Creditors in Bankruptcy

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In a unanimous opinion, the U.S. Supreme Court has ruled that funds held in an inherited individual retirement account (IRA) are not exempt...
Monday, April 28, 2014

Bankruptcy Court Refuses to Discharge Granddaughter’s Debt to Nursing Home- Lessons for Caregivers

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A U.S. bankruptcy court refused to discharge an Ohio woman's debt to a nursing home for the cost of her grandmother's care, find...
Monday, February 17, 2014

Understanding the Medicaid Look-back Period

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Medicaid uses a "look-back" period in determining Medicaid eligibility.  Medicaid, unlike Medicare, is a means-tested program, whi...