A Miller Trust is a irrevocable qualified income trust used for Florida Medicaid planning. Generally, when an individuals income is over the limits a Miller trust or Medicaid Qualified Income Trust can help. Generally a Medicaid Qualified Income Trust will distribute your income in such a way that your income…
What happens if Grandpa needs to Nursing home coverage and he owns a Class3 weapon like a Machine Gun? Title II Firearms (sold by Class 3 SOT dealers) or those controlled by the National Firearms Act are not exempt assets when it comes to Medicaid Planning. There are ways to…
Although there are no current verdicts against Florida Companies, many states have taken action against living Trust Scams / Trust Mills / and Elder Law Planning Seminars. Michael Bonasera of Buckingham Doolittle & Burroughs, LLP and author of the The Ohio Trust & Estate Blog wrote an article titled Living…
There are many places to get advice on the Internet. Be sure when you are looking for legal advice, you are working with a licensed lawyer. Below is the finding of the Ohio State Bar in regards to one such service. We the People is a franchise that provides forms…
Last Sunday April 13, Dateline NBC had a story on tricks insurance agents use to sell insurance policies to our nations seniors. Insurance is a $14 trillion dollar business. They used hidden cameras. For those of you who missed it, here is a link to the transcript of the show.…
In Florida, the Life tenant is generally responsible for the costs of repairs, but the remaindermen are responsible for the payments for improvements to the property. If the life tenant paid for the costs of improvements on a property, this would constitute an uncompensated transfer or gift which could result…
The Miami Herald reported that Florida lawmakers on Wednesday added language to a state budget companion bill (HB 5085) that would expand a Medicaid pilot program that shifts some beneficiaries to private managed care plans, such as health maintenance organizations, the Miami Herald reports. The bill seeks to expand the…
As we get older long term care insurance premiums can become expensive. To qualify for a deduction on the insurance costs the policy must be a “qualified policy” as defined by the IRS. A qualified policy is one issued after January 1, 1997 that adheres to certain regulations established by…
The JC FLorida reported on recent cuts on proposed cuts in state funding. This week both the Senate Health and Human Services Appropriations Committee and the House Health care Council introduced their 2008-09 budgets. The Senate reduced nursing home funding $163 million and the House reduced funding $278 million. Florida…
Florida and The Medicaid Look Back Period -“Why you Can’t Just Give It All Away” Many people simply try to give their assets away to their children in an attempt to safeguard their estate. The Medicaid people have caught on to this. Many years ago, a popular planning technique was…