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Old 08-13-2019, 01:25 PM
 
Location: New Mexico U.S.A.
25,589 posts, read 41,876,683 times
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Quote:
Originally Posted by treeluvr View Post
My question: have you used an online legal site to prepare a will? What was your experience?
Never...

Have had three wills prepared over the past 25+ years. All were through an attorney...
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Old 08-13-2019, 01:44 PM
 
281 posts, read 210,189 times
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Quote:
Originally Posted by mathjak107 View Post
i hope your not talking to me because there is not one thing you stated that applies to me. anything i state comes from our estate attorney not the internet and i already stated we have wills and a disclaimer trust ... so not sure who you are referring to .

MEDI-CAL has it's own separate rules which differ from MEDICAID ... for all purposes they are not the same in many respects including counting the house for qualifying .

there are medi-cal trusts that are revocable and don't count the house for qualifying ...that is different then medicaid rules which count the house value in a revocable trust if that is what you are referring to
As a Ca resident I must disagree a bit....MediCal does not have separate rules..

Your statement that a homes value is not counted as qualifying for MediCal is true

But if you need nursing home care the state will definitely come after your home..they can put a lien on it...now if you have a spouse or disabled dependent in the home, the state will not throw them out..but once they die, or home is sold, remember that lien..

Simply putting the home in someone else’s name can backfire too...due to the lookback periods which I believe is five years...plus as someone else mentioned, deeded it to say your brother , yeah guess he could sell it out from under your feet..


Qualifying for MediCal is not the same as having the state fund your nursing home ...
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Old 08-13-2019, 01:46 PM
 
73,050 posts, read 72,838,664 times
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Quote:
Originally Posted by Lola The yorkie View Post
As a Ca resident I must disagree a bit....MediCal does not have separate rules..

Your statement that a homes value is not counted as qualifying for MediCal is true

But if you need nursing home care the state will definitely come after your home..they can put a lien on it...now if you have a spouse or disabled dependent in the home, the state will not throw them out..but once they die, or home is sold, remember that lien..

Simply putting the home in someone else’s name can backfire too...due to the lookback periods which I believe is five years...plus as someone else mentioned, deeded it to say your brother , yeah guess he could sell it out from under your feet..


Qualifying for MediCal is not the same as having the state fund your nursing home ...
Medical is different then Medicaid ..it has its own rules that were changed in June ...they treat revocable trusts differently ...any other differences were not being discussed so there is nothing for you to disagree with me on
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Old 08-13-2019, 02:47 PM
 
Location: Rust'n in Tustin
2,408 posts, read 2,499,105 times
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Quote:
Originally Posted by volosong View Post
What are the problems of putting my brother's name on the deed to my house, (other than him selling it out from under me, which he won't do)? Does having his name on the deed avoid all this trust/will stuff?

Other than the mortgage-free house, all I have is "stuff". Some valuable, most not.
For the love of Christ DO NOT TAKE ANONYMOUS ONLINE LEGAL ADVICE. Every state is different and every situation is different.

I implore you, see an attorney.
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Old 08-13-2019, 02:49 PM
 
Location: Rust'n in Tustin
2,408 posts, read 2,499,105 times
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My friend thought he'd beat the system by putting his kid's name on the deed. Then the kid got divorced, and the high-jinks began
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Old 08-13-2019, 02:55 PM
 
281 posts, read 210,189 times
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Quote:
Originally Posted by mathjak107 View Post
Medical is different then Medicaid ..it has its own rules that were changed in June ...they treat revocable trusts differently ...any other differences were not being discussed so there is nothing for you to disagree with me on
Sorry.....each state does have different rules..that is true...my point was MediCal and Medicaid are the same federally funded programs...feds usually chip in 60%....each state can determine how much to provide for the rest..

Both are tho essentially programs for what is considered lower income/assets folks..

We are signing our revocable trusts on Fri....our attorney pointed out that deeded both our homes to the trust will not protect them for nursing home costs...not that we could ever spend down our assets to the MediCal level anyway...luckily..

Do you have a link explaining this? I couldn’t find one

Thanks
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Old 08-13-2019, 10:29 PM
 
809 posts, read 225,004 times
Reputation: 2119
Quote:
Originally Posted by mathjak107 View Post
keep in mind that moving a primary residence in to any kind of revocable living trust takes a protected asset that is not counted for medicaid purpose and unprotects it .

while the residence would not be counted if under a certain value , it now counts the dollars towards spending down ... many end up having to sell the house and spend down those dollars to qualify for long term care medicaid because their general practitioner and not an estate or elder law attorney had no idea . .

once moved in to the trust it is subject to the look back if you want to reverse it .

we have no use for a trust at this point ... but we do have a special disclaimer trust which the surviving spouse can choose to activate up to 9 months after the death of the first spouse .

we needed those because at the time new yorks estate tax cliff was to low for us .. if you went over the limit by 5% you lost the entire exclusion and paid taxes on the estate from dollar 1 .

so it lets the estate be split in to 2 irrevocable trusts if need be and pass 2x the limit .

as of now ny is high enough we wouldn't need to activate them as we really rather not subject the surviving spouse to living within the terms of an irrevocable trust
Glad that you chimed in regarding the Medicaid implications when one has a primary residence in a revocable trust. Not that many with the residence usually are interested/ qualify for Medicaid anyway- different spectrum of people
Could you elaborate, please, what rules of your potential irrevocable trust would “be hard to live by a surviving spouse”?
I always thought that irrevocable is much more “ defensive”
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Old 08-14-2019, 03:16 AM
 
73,050 posts, read 72,838,664 times
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Quote:
Originally Posted by Nik4me View Post
Glad that you chimed in regarding the Medicaid implications when one has a primary residence in a revocable trust. Not that many with the residence usually are interested/ qualify for Medicaid anyway- different spectrum of people
Could you elaborate, please, what rules of your potential irrevocable trust would “be hard to live by a surviving spouse”?
I always thought that irrevocable is much more “ defensive”
it is basic trust laws you can just google , assets in revocable trusts are countable assets for qualifying unless like medi-cal certain laws alter that in your state ..
------------------------------------------------------------------------------------------------------------------
The Facts: Living trusts, Medicaid, and you...
Assets in a revocable living trust are not protected and must be used to pay for the costs of long-term care
--------------------------------------------------------------------------------------.

https://www.rhodeslawfirmpc.com/prac...care-planning/
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Old 08-14-2019, 12:51 PM
 
Location: Lincoln, NE
10 posts, read 2,567 times
Reputation: 25
While I agree that if your estate may be complicated, definitely seek the advice of a professional. However, keep in mind that simple wills can be drafted and effective if you simply proofread things and have some degree of knowledge. If you live in a mid-sized to larger city, visit your local law library (within a college, or often cities have court libraries that are open to the public). Look at books with forms in them specific to your state, use that as a template, and then draft your own.


If real property is involved (I think the OP mentioned there isn't), look into whether or not your state has a "transfer on death" deed you can file with the register of deeds. That way, the real property doesn't need to go through probate. This may be a decent alternative to a trust, as most people have accounts (bank, retirement, etc.) that have named beneficiaries, instead of "your estate", and thus don't travel through probate.

I've had many examples of legal "professionals" that simply got things wrong, or overbilled for their services. Also, keep in mind that some attorneys will try and "upsell" you to a complicated trust agreement, or "complete estate planning" package, when all you really need or want is a simple will.

Last edited by sammythebull; 08-14-2019 at 01:03 PM..
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Old 08-14-2019, 03:57 PM
 
281 posts, read 210,189 times
Reputation: 375
Quote:
Originally Posted by mathjak107 View Post
it is basic trust laws you can just google , assets in revocable trusts are countable assets for qualifying unless like medi-cal certain laws alter that in your state ..
------------------------------------------------------------------------------------------------------------------
The Facts: Living trusts, Medicaid, and you...
Assets in a revocable living trust are not protected and must be used to pay for the costs of long-term care
--------------------------------------------------------------------------------------.

https://www.rhodeslawfirmpc.com/prac...care-planning/
Personally we would never qualify for a Medicaid/MediCal funded nursing home anyway...

We are lucky to have enough assets to fund whatever kind of long term care we prefer... FUNNY tho that DH insists he wants to stay in our home....he is a big guy so he would need full time aide..for bathing bathroom etc...if I need care first he likely would have to hire at least half day care...we promised neither of us would change diapers etc...

In the event one of us gets dementia, well than it may be time for a good nursing home...

We tell the grands we might be spending their inheritance!
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