Losing a spouse can be devastating. It creates a void in many aspects of life. In situations like these, it’s also important to review your estate plan and determine what should be done. If your spouse has passed, these are the most common estate planning issues to consider: Talk with your family. Hopefully families or […]
Estate Planning For Surviving Spouses Read More »
Medicaid is a complicated program and process to go through. It’s not usual for it to take multiple months and in some counties, provide account statements going back five years. If a gift or other transfer was made within five years of filing for Medicaid, it’ll only complicate the process further. Medicaid treats certain transfers
Watch Out for Gifts and Other Transfers Read More »
You or your parent may want to live at home as long as possible. But, that sometimes isn’t financially feasible due to the cost of in-home care. Fortunately, there’s a planning option in situations like these. It’s called a “reverse mortgage.” It’s essentially when a loan is taken out against the equity in the home
Medicaid and Reverse Mortgages: The Good, the Bad, and the Ugly Read More »
The options for protecting assets from Medicaid and the cost of long-term care differs depending on if you’re single (i.e. not married or have survived your spouse) or are married. Also, the planning differs depending on when you need care. In other words, if you can live independently for five years, there are certain planning
Medicaid Planning for Single Persons Read More »
Family ownership succession can happen between a number of different people or groups. Parents may transfer ownership to one or more of their children. Siblings may transfer ownership to each other or the next generation (i.e. nieces and nephews). Grandparents may even skip a generation and transfer ownership to a grandchild if their children aren’t
Family Ownership Succession: Which Option is Best for You? Read More »
If you have a spouse, parent, or other family member who is on Medicaid, that person hasn’t had to meet the financial eligibility rules since June 1, 2020. At that time, the State of Michigan changed its policy so that people can remain on Medicaid even though they have too many assets. As part of
Don’t Lose Your Medicaid Eligibility When Redetermination Is Restarted Read More »
Married couples have oftentimes had two separate trusts. In other words, one spouse would have a trust and the other spouse would too. This planning was typically done to minimize or avoid the estate tax at their passing. Over the last decade though, the estate tax laws have changed so much that having two separate
Separate to Joint Trusts: Three Traps to Avoid Read More »
In response to COVID-19 and the federal Public Health Emergency, the Michigan Department of Health & Human Services (MDHHS) suspended all Medicaid redeterminations. Since June 1, 2020, benefits have continued without the MDHHS confirming that a Medicaid recipient is still eligible for benefits based on assets and income. The federal Public Health Emergency will end
Medicaid Redetermination Process Resumes on May 11, 2023 Read More »
Our Estate Planning Seminar is now full. If you’d like to be added to the waitlist, please email Kelly@cunninghamdalman.com. If a spot opens up, we will reach out to directly. Thank you for your interest in the seminar. Estate Planning Seminar March 2023
Estate Planning Seminar Read More »
If you have named two or more of your children as your successor co-trustees or have real estate that is important to your family, you should continue reading. A recent Michigan Court of Appeals case provides a cautionary tale for naming co-trustees and family real estate. In this case, both parents passed and they had
Estate Planning: A Cautionary Tale Read More »
Fill in the form below to reserve your spot today for each person attending. If you have any questions, please call the office at 616.392.1821.
