My mother plans to create a Special Needs Trust for my brother to manage any inheritance that he receives from her. This inheritance could exceed $500k. My brother is married, on disability, and a very poor money manager. My mother’s primary goals are to ensure that my brother has a safety net... View More
Your mother can create a Third Party Special Needs Trust (it can be embedded in her Living Trust or stand-alone). Mom can/should name anyone OTHER than your brother to serve as the trustee for this SNT with him as beneficiary. As an example: you could be trustee for your brother (in charge of...View More
Unfortunately, the magic age is 60 (when your remarriage would not affect your ability to qualify for survivors benefits on your deceased husband's record). The exception to this is if you are above the age of 50 AND have a disability.
Florida Statutes are very clear: the surviving spouse is entitled to 30% of the value of the deceased's spouse's estate (this is referred to as the "elective share", and I put a link to the statute at the bottom of this answer).
My brother-in-law in Simpsonville S.C. but we live in Central Texas. He is in his late 80's and has no will, trusts, no estate planning of any kind what so ever. He is too depressed, confused, and has a fear of trustworthiness, resulting in not contacting anyone himself. We are seeking... View More
It sounds like he may need a guardianship/conservatorship. We only practice in Florida - you can find an excellent elder law attorney in his locale, on this forum, or by visiting: www.naela.org (click find-a-lawyer).
I am a co-successor trustee with one of my siblings, for my parents trust. They both have passed. We are going to sell their house, which is in the trust. Do we two, as the successor trustees, have the sole discretion on how the house proceeds get deposited and/or distributed? Or, does a third... View More
Hi there - No, a trustee's role and job is to follow the instructions within the trust. In most revocable trusts, the trust document itself will state who gets what after the grantor (creator of the trust) passes away.
In short: see what the trust says! You should check with an elder...View More
My great aunt passed away in 2013 and everything went to my great uncle as the will stated. then in 2015 my uncle passed and being the executor his estate and his power of attorney before that I'm wondering what's needed to claim property in my great aunts name that we just found a few... View More
Hi there - given that you uncle passed away about 7 years ago, the first step would be to determine if a probate has been opened. There are many factors that would go into whether or not you have anything to claim:
1. Was there any property left to probate at your uncle's passing?...View More
100% lady bird deed. This is because the owner remains the sole owner (with right to sell, rent, change remainderman) until death. Only at death does the ownership interest change. This is important because transferring assets within five year of applying for medicaid can result in a penalty, which...View More
and I added her to the deed so she was comfortable. Later I took out a small 2nd mortgage for a car, she signed it but was not happy about it. she wanted a walk-in tub and wanted to remodel my bathroom. She has been living with me for four years. She has not remodeled the bath or paid any groceries... View More
You don't automatically get title to the house just because you have been paying her mortgage. However, may I suggest a lady bird deed: read more about it here: https://www.elderneedslaw.com/blog/lady-bird-deed); or watch video here: https://www.youtube.com/watch?v=XeOHKsLiY9M....View More
My grandfather is in his 90 he recently had a bad fall went to the hospital where he stayed for a couple of weeks. He then is sent to a nursing home where he will stay for 21 days with the possiblity of being there indefinitely. My grandfather a couple of years ago put me and his account at his... View More
Hi there. First off, placing these assets inside an irrevocable trust while your grandfather is in a nursing home is the worst possible idea. The reason is - he doesn't have time to wait out the period of ineligibility that will be imposed after transferring assets to the irrevocable trust...View More
Just because someone has dementia does not mean that they, definitively, cannot sign a new POA or Will. The test is whether the person was lucid at the time they signed the document. In other words, did they understand what they are signing when it was signed.
Your wife's aunt could certainly hire a Texas elder law attorney to draft a durable power of attorney to allow your wife to help as best she can from Florida (assuming aunt has capacity to understand what she is signing after the stroke). More likely is that a care advocate will need to be...View More
My mom was just approved for Medicaid after being placed in a nursing home in Florida. At the time of application, my dad had well under his allowable $126,420 in assets. My parents home in MI was exempt in regards to the Medicaid application process. My dad wants to sell the MI home now. The... View More
Following approval, none of the assets solely owned by the community spouse are included as available to the institutional spouse. The amount of assets allocated to the community spouse which belong to the institutional spouse and are available to the institutional spouse must be transferred to the...View More
I am Mom's POA. She has dementia and we feel skilled nursing is in her near future. Medicaid information is confusing us regarding selling, also, we fear we may lose out on moneys to care for her when she needs it the most. Thank you.
There are a variety of legal and ethical ways to protect the proceeds of the home sale and qualify your mother for ICP-Medicaid (which pays for nursing home care). Depending on the net amount, the medicaid-complaint strategies would change.
I agree with the two other answers. As trustee, you have the ability to take action with regard to any asset that is properly titled in the name of the trust (subject to the trust's limitations, i.e. it may direct you, as trustee, to sell the car and distribute the proceeds to one or more...View More
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