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 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.
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 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.
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).
Can I Give Assets to Qualify for Medicaid in Connecticut?Barry D Horowitz
The medicare programs does not pay for long-term care, but Medicaid will pay for custodial care. Learn more about medicaid in Connecticut in this presentation.
Planning for long-term care either for you or a family member is a task most of us are reluctant to consider. Long-term care may be needed at any age, but the possibility of an individual requiring some form of long-term care increases as we age. It is very important to make decisions regarding long-term care in advance of your need.
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Do you know anyone with less than perfect credit or excessive debt? Look at this short 4 minute video www.protectionthatpays.com and give me your opinion about it.
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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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.
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
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.
WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
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.
NATURE, ORIGIN AND DEVELOPMENT OF INTERNATIONAL LAW.pptxanvithaav
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 .
NATURE, ORIGIN AND DEVELOPMENT OF INTERNATIONAL LAW.pptx
Wellness at Brown! Presentation on Elder Care Law: Planning for Incapcity
1. HEFFNER &
ASSOCIATES
ELDER LAW
Mark B. Heffner, Esq. , CELA
Heffner & Associates
615 Jefferson Boulevard
Warwick, Rhode Island
401-737-1600
mheffner@hefflaw.com
www.hefflaw.com
Planning for Incapacity:
Wellness at Brown!
2. HEFFNER &
ASSOCIATES
ELDER LAW
Disclaimer
•Materials are for general education and should
not be substituted for consultation with a
competent estate planning attorney in your
state
•Materials presented from the perspective of
Rhode Island
•Rules and practice vary significantly from state
to state and are subject to change
3. HEFFNER &
ASSOCIATES
ELDER LAW
Lifetime Planning: Health Care
Decisionmaking
Advance Directive
Durable Power of
Attorney for Health
Care
Living Will
Selection of Agent
Selection of Successor Agent
4. HEFFNER &
ASSOCIATES
ELDER LAW
Lifetime Planning: Financial
Decisionmaking
Joint accounts: Be careful!
Durable Power of Attorney for finances
Determination of
Powers to provide
Again, selection
successor Agent
Selection of Agent
(aka, “Attorney in
fact”)
Ex: Gifting and
Estate planning
5. HEFFNER &
ASSOCIATES
ELDER LAW
Lifetime Planning: 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
Provide no protection for assets for
nursing home cost
Instead, would need Irrevocable Trust
6. HEFFNER &
ASSOCIATES
ELDER LAW
Planning for post-death
Will—requires probate
Selection of Executor—same person
generally as agent under financial DPOA
Revocable Trust—if “funded” will avoid
probate for those assets
Note: Need to check beneficiary
designations (IRAs, life insurance,
annuities), joint titling, as general “trump”
Will or Trust provisions
7. HEFFNER &
ASSOCIATES
ELDER LAW
What happens if long-term care
needed?
Medicare--limited long term care (LTC)
coverage 20 days full payment, up to 80
additional days with co-pay ($164/day)
Medicare LTC coverage initially
applicable if individual has a three day
prior hospital admission & continues to
require skilled care
After that….
8.
9. HEFFNER &
ASSOCIATES
ELDER LAW
Private Pay costs for nursing home
care
What is the average monthly cost of a nursing
home in Rhode Island (according to the Rhode
Island Department of Human Services)?
$9,113/month (approx $290/day)
Actual costs range from approximately
$7,500/month ($240/day) —
$10,800/month ($360/day)
10. HEFFNER &
ASSOCIATES
ELDER LAW
Public benefits available for long-
term care
Medicare: (limited) skilled nursing home
& (potentially unlimited) home care
Medicaid: pays for skilled nursing home
and (limited) home & community-based
services
Veterans benefits: (limited) nursing
home and Aid and Attendance benefits
11. HEFFNER &
ASSOCIATES
ELDER LAW
What is Medicaid?
•It is not Medicare!
•Medicaid: in addition to general criteria (age,
blind, disabled) & needing a level of care, must
also fall within financial criteria (assets, income,
transfer restrictions)
•Medicare: insurance model; no asset or
income qualification requirements
•Substantial state to state variations
12. HEFFNER &
ASSOCIATES
ELDER LAW
Resources
Excluded (Single Person)
•Home (equity value limit:
$560K) if “intent to return”
•Household goods &
personal effects( no value
limit, unless exceptional)
•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)
•Funds otherwise
available (limit: $4000)
Available
EVERYTHING
ELSE
13. 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)
14. 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
Parent gives adult children each $10,000
Uncompensated transfer: $30,000
15. HEFFNER &
ASSOCIATES
ELDER LAW
Medicaid Planning Techniques
Highly individualized—one size definitely does not
fit all!
• Spenddowns—debts, taxes, burial contracts.
• Specialized annuities—married couples only
“Crisis planning” techniques include:
• “Reverse half a loaf” planning
• Many more opportunities exist for married couples;
however still “never too late” for single individuals
16. HEFFNER &
ASSOCIATES
ELDER LAW
Medicaid Planning Techniques
Non-crisis, or “pre-crisis” planning techniques
include:
• Make transfers, incur five year lookback period
• Transfers—must be mindful of tax implications,
creditors—grantor Irrevocable Trusts useful
device.
• Durable Powers of Attorney with estate and
Medicaid planning authority provided to agent
• Again, highly individualized as to what techniques
to use & timing of use of techniques
17. HEFFNER &
ASSOCIATES
ELDER LAW
How to get started
Arrange for consultation with competent
elder attorney
Preparation: provide elder law attorney wi
individual family, financial and health
information
Initial meeting should be at least an hour
Expect fee for initial consultation
18. HEFFNER &
ASSOCIATES
ELDER LAW
National Elder Law Foundation
www.nelf.org
Locating competent elder law attorney
Certified Elder Law Attorney
Provides interactive state map of Certified
Elder Law Attorneys (CELA) in each state
19. HEFFNER &
ASSOCIATES
ELDER LAW
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
Discuss what Elder Law is..why applicable
Overview: Estate planning..lifetime planning & post-death planning
Review of public benefits
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
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
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)
BEFORE GOING TO NEXT SLIDE—DISCUSS INCOME
SINGLE PERSON
MARRIED