The document discusses elder law planning topics such as healthcare directives, financial planning, Medicaid eligibility, and transferring assets. It provides an overview of lifetime planning considerations for an individual named Janet, including appointing agents for healthcare and financial decisions. It also discusses Medicaid eligibility criteria around resources, income limits, and penalties for asset transfers within 5 years. Examples are given for both single individuals and married couples applying for long-term care coverage.
Estate & Medicaid Planning for Individuals with Alzheimer's DiseaseMark Heffner
A presentation to family caregivers of people living with Alzheimer's, given at the Caregiver's Journey Conference, March 31st, 2016. Conference sponsored by the Rhode Island Alzheimer’s Association.
The 9 most common myths of Medicaid and Medicaid PlanningMark Heffner
Presented to the Rhode Island chapter of the Alzheimer's Association on Oct. 3, 2013. This talk was Part 4 of the "Getting Started Education Series", given at The Highlands on the East Side, in Providence, RI.
Estate & Medicaid Planning for Individuals with Alzheimer's DiseaseMark Heffner
A presentation to family caregivers of people living with Alzheimer's, given at the Caregiver's Journey Conference, March 31st, 2016. Conference sponsored by the Rhode Island Alzheimer’s Association.
The 9 most common myths of Medicaid and Medicaid PlanningMark Heffner
Presented to the Rhode Island chapter of the Alzheimer's Association on Oct. 3, 2013. This talk was Part 4 of the "Getting Started Education Series", given at The Highlands on the East Side, in Providence, RI.
This presentation describes the current Medicaid eligibility rules and shows various techniques that permits individuals and families to preserve assets in the face of crushing long-term care costs
This is a presentation where I provided a general overview of Pension Plan Division of Assets in a Divorce to High Net Worth Individuals, specifically Professional Athletes going through a divorce
This chapter examines the U.S. health care system—specifically, the organization of medical services; key governmental health programs such as Medicare and Medicaid; the crisis in health care, including attempts to curb health care costs; the large numbers of uninsured people; the impact of the American Medical Association on health care; and that of managed care in the American health care system.
This presentation describes the current Medicaid eligibility rules and shows various techniques that permits individuals and families to preserve assets in the face of crushing long-term care costs
This is a presentation where I provided a general overview of Pension Plan Division of Assets in a Divorce to High Net Worth Individuals, specifically Professional Athletes going through a divorce
This chapter examines the U.S. health care system—specifically, the organization of medical services; key governmental health programs such as Medicare and Medicaid; the crisis in health care, including attempts to curb health care costs; the large numbers of uninsured people; the impact of the American Medical Association on health care; and that of managed care in the American health care system.
Medicaid Presentation (Jason Neufeld Presenting to Broward Bar Association)Jason Neufeld
Florida Elder Law Attorney, Jason Neufeld, presented this to the Broward Bar Association (in conjunction with the Miami-Dade County Bar Association and more). The interactive presentation focused on Medicaid Planning 101: Using estate planning and medicaid planning strategies to legally and ethically qualify Floridians for Medicaid Waiver, QMB or Medicaid ICP (to pay for prescriptions, health care, home health aides, ALF care and/or nursing home care).
Advanced Strategies for Trial Attorneys: Resolve Liens, Ensure Medicare Compl...SynergySettlementServices
A complimentary and quick-hitting webinar covering some of the most complex issues that trial attorneys face when resolving catastrophic personal injury cases. Our panel of national experts will share tips & techniques along with best practices to make sure your firm and its clients are protected against common potential malpractice mistakes.
This presentation provides an overview of the road map needed to avoid the land mines and traps related to Medicaid. Proper planning is needed to preserve a legacy, cover final expenses and still be eligible for all available Medicaid benefits.
501(r) regulations will soon take effect for not-for-profit hospitals nationwide. Are you ready? These complex IRS rules outline how providers ensure access, provide charity assistance and properly collect uncompensated care. The rules can affect your revenue cycle, financial assistance and collections, as well as your Form 990 and tax exemption status.
This presentation will help you understand the strategies for patient enrollment & navigation and there by reduce the risk of caring for the uninsured.
HRSA requirements for a compliant sliding fee scaleCompliatric
The Health Center Compliance Manual outlines the requirements of both the program legislation and implementing regulations. The most recent updates to the Manual from HRSA provided some needed clarification in a number of areas, including the Sliding Fee Discount Program that is central to the Health Center Program. This webinar will outline the Sliding Fee requirements and provide examples and best practices for Community Health Centers to consider.
The Health Center Compliance Manual outlines the requirements of both the program legislation and implementing regulations. The most recent updates to the Manual from HRSA provided some needed clarification in a number of areas, including the Sliding Fee Discount Program that is central to the Health Center Program. This webinar will outline the Sliding Fee requirements and provide examples and best practices for Community Health Centers to consider.
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How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
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The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
ALL EYES ON RAFAH BUT WHY Explain more.pdf46adnanshahzad
All eyes on Rafah: But why?. The Rafah border crossing, a crucial point between Egypt and the Gaza Strip, often finds itself at the center of global attention. As we explore the significance of Rafah, we’ll uncover why all eyes are on Rafah and the complexities surrounding this pivotal region.
INTRODUCTION
What makes Rafah so significant that it captures global attention? The phrase ‘All eyes are on Rafah’ resonates not just with those in the region but with people worldwide who recognize its strategic, humanitarian, and political importance. In this guide, we will delve into the factors that make Rafah a focal point for international interest, examining its historical context, humanitarian challenges, and political dimensions.
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Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
A "File Trademark" is a legal term referring to the registration of a unique symbol, logo, or name used to identify and distinguish products or services. This process provides legal protection, granting exclusive rights to the trademark owner, and helps prevent unauthorized use by competitors.
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These slides helps the student of international law to understand what is the nature of international law? and how international law was originated and developed?.
The slides was well structured along with the highlighted points for better understanding .
Providence Retired Teachers Association - Estate & Medicaid Planning
1. HEFFNER &
ASSOCIATES
ELDER LAW
Estate & Medicaid Planning
Mark B. Heffner, Esq. , CELA
Heffner & Associates
615 Jefferson Boulevard
Warwick, Rhode Island
401-737-1600
www.hefflaw.com
2. HEFFNER &
ASSOCIATES
ELDER LAW
Disclaimer
•Materials are for general education and should
not be substituted for consultation with a
competent elder law attorney in your jurisdiction
•Materials presented from the perspective of
Rhode Island Medicaid regulations and practice
•Rules and practice vary significantly from
State to State (and occasionally within the
same State) and are subject to change
4. HEFFNER &
ASSOCIATES
ELDER LAW
Lifetime Planning for Janet: Health
Care Decisionmaking
Advance Directive
Durable Power of
Attorney for Health
Care
Living Will
Selection of Agent
Selection of Successor Agent
5. HEFFNER &
ASSOCIATES
ELDER LAW
Lifetime Planning for Janet:
Financial Decisionmaking
Joint account not recommended
Durable Power of Attorney
Selection of Agent (aka, “Attorney in
fact”)
Also successor Attorney in fact
6. HEFFNER &
ASSOCIATES
ELDER LAW
Lifetime Planning for Janet:
Financial Decisionmaking
Revocable Trust, aka, “Living Trust”
Avoids/Reduces “Push-Back” of
Institutions with use of Durable Power of
Attorney
Selection of Trustee & successor
Trustee critical
Still need Durable Power of Attorney for
finances
7. HEFFNER &
ASSOCIATES
ELDER LAW
Post-death planning for Janet
Will—requires probate
Selection of Executor—same person
generally as agent under financial DPOA
Revocable Trust—if “funded” will avoid
probate for those assets
Still need Durable Power of Attorney for
finances
8. HEFFNER &
ASSOCIATES
ELDER LAW
What happens if Janet needs long-term
care?
Medicare--limited long term care (LTC)
coverage 20 days full payment, up to 80
additional days with co-pay ($152/pay)
Medicare LTC coverage initially
applicable if individual has a three day
prior hospital admission & continues to
require skilled care
After that….
9.
10. HEFFNER &
ASSOCIATES
ELDER LAW
Private Pay costs for nursing home
care
• Genworth 2013 cost of care survey
(www.genworth.com/corporate/about-genworth/
industry-expertise/cost-of-care.html)
•Rhode Island: $8516/month
•Massachusetts: $10,493/month
•Connecticut : $12,638/month
11. HEFFNER &
ASSOCIATES
ELDER LAW
What is Medicaid?
•It is not Medicare!
•Medicare: insurance model; no asset or
income qualification requirements
•Medicaid: in addition to general criteria (age,
blind, disabled) & needing a level of care, must
also fall within financial criteria (assets, income,
transfer restrictions)
12. HEFFNER &
ASSOCIATES
ELDER LAW
Resources
Excluded (Single Person)
•Home (equity value limit:
$534K) if “intent to return”
•Funds otherwise
available (limit: $4000)
•Vehicle (limit: $4500,
unless used for
transportation to medical
appts)
•Life Insurance ($4000
face limit)
•Irrevocable Burial
Contract, or funds set
aside for burial ($1500)
•Household goods &
personal effects( no value
limit, unless exceptional)
Available
EVERYTHING
ELSE
13. HEFFNER &
ASSOCIATES
ELDER LAW
Income-Single Individual
All gross income must be used for cost of care,
minus:
•$50/month personal needs allowance; and
$Pro-rata monthly payment of Medicare
supplement insurance (e.g. Blue Cross Plan 65)
15. HEFFNER &
ASSOCIATES
ELDER LAW
Resources
Excluded (Married Couple)
•Home: no equity limitation
if residence of “Community
Spouse” (CS)
•Vehicle: if used by CS, no
limitation on value
•CS retains “Community
Spouse Resource
Allowance” (CSRA)
16. HEFFNER &
ASSOCIATES
ELDER LAW
Income-Married Applicants
Income of “community spouse”,--whether regular
(e.g. Social Security), or periodic (e.g., inheritance)
is not a factor in eligibility of institutional spouse
(IS), except in following calculation
Community Spouse Allocation (“spousal slide over”)
may be allowed as additional deduction from IS
income. Two factors:
•CS gross income; and
•Amount of spousal allowance, consisting of
••Basic monthly allowance to CS (currently $1,891.25);
and
•If there are shelter expenses, and if so whether
standard shelter allowance or excess shelter allowance
17. HEFFNER &
ASSOCIATES
ELDER LAW
Transfers of Assets
Any transfer occurring on or after February 8, 2006
is subject to five year lookback period
Q: What types of transfers fall within lookback
period?
A: Uncompensated (UV) transfers--i.e., those for
which fair market value (FMV) not received by
applicant or the applicant’s spouse
Ex: Applicant’s spouse “sells” summer cottage with
FMV of $100K to child for $25K.
Uncompensated transfer: $75,000
18. HEFFNER &
ASSOCIATES
ELDER LAW
Potential additional tool for Pat and Bill
Irrevocable trust
Unlike revocable trust—actual transfer of assets
Subject to five year loopback period
Key question: probably of both Pat and Bill making
it through five year loopback period
19. HEFFNER &
ASSOCIATES
ELDER LAW
National Elder Law Foundation
www.nelf.org
Provides interactive state map of Certified
Elder Law Attorneys (CELA) in each state
Mark B. Heffner, Esq. , CELA
Heffner & Associates
615 Jefferson Boulevard
Warwick, Rhode Island
401-737-1600
mheffner@hefflaw.com
www.hefflaw.com
Editor's Notes
Refer to OMR tool
Practice pointer: don’t assume, as in past, that just because client in nh, will qualify for Medicaid LTC benefits in nh
Agent selection can change
Entire power can be revoked
Illustrate through example of house—revocable, change trustee
Illustrate need for probate with house, avoidance of probate with house, bank account
Janet still cares about how things go—in fact, may be greater concern for dispute
Illustrate need for probate with house, avoidance of probate with house, bank account
Janet still cares about how things go—in fact, may be greater concern for dispute
THE END—At least of insurance coverage
UNLESS LTCI—the beginning..
Discuss LTCI
Refer to OMR tool
Practice pointer: don’t assume, as in past, that just because client in nh, will qualify for Medicaid LTC benefits in nh
Illustration of “legal ability to make resource available” and a resource not subject to “a legal impediment which precludes applicant from making resource available. Gship or conservatorship--evidence inability to make resource available. Asset unavailable to to refusal of joint tenant to sell, and hence partition suit (ask JK + law school case)