Michigan Elder Law Blog

We previously blogged about how to leave your estate to your pets. I recently came across another article that dealt with the same topic that I thought might be of interest to our readers.

Lee Dvorak, in her estate plan, wanted her perfectly healthy cat, Boots, to be euthanized upon her death. This was surprising as Dvorak left all of her $1.3 million estate to animal charities. You are probably wondering why she would want her cat euthanized?

Dvorak was afraid if something happened to her, Boots, who was a rescue cat, would not be taken care of and would end up in another abusive home. The executor of her will, Fifth Third Bank, went to court and asked the judge to block the request.

The judge agreed and Fifth Third placed Boots in a loving home with a history of caring for cats.

One thing in particular in this article gave me "paws" (sorry, I couldn't resist): if Dvorak was such an animal lover, why didn't the attorney who prepared her estate plan discuss with her the options available to Boots instead of euthanasia, such as finding an appropriate animal rescue farm to place Boots? Often times a client will come to an attorney to discuss their estate plan and have an "idea" in mind, but it is the job of the attorney to discuss with the client the implications to their "idea" and the alternative options that are available. It's hard to believe that an animal lover, who gave $1.3 million to animal charities upon her death, would want her beloved cat to be euthanized after her death.

Continue reading "Estate Planning...for Pets" »

I recently came across an article that provides a good summary as to why having an end of life plan is so important. We often tell our clients that the most important documents individuals can have are Powers of Attorney for health care (day to day care and treatment, end of life, etc.) and financial decisions. Clients often assume that absent having the proper legal documentation, a loved one will be able to direct their care and make their financial and health care decisions for them if they are unable to do so. This is not true. If you become incapacitated and do not have a Power of Attorney for health care and financial decisions, there is no one to direct your care or make your financial decisions for you.

This can become especially complex in families with multiple children or in second marriages. Often times not having the proper Power of Attorney means that the family has to petition the Probate Court to become Guardian and Conservator over your affairs. However, this can be avoided by executing Power of Attorney for health care and financial decisions before you become incapacitated. By planning in advance, you can ensure that the person that you feel is best suited to make those decisions for you is able to do so, and can keep your affairs out of Probate Court.

If you do not have Power of Attorney documents for health care and financial decisions, and are interested in setting up Power of Attorney for health care and financial decisions, call the experienced Michigan estate planning and elder law attorneys at Barsch & Joswick, PLLC today to set up a complimentary consultation.

As experienced Michigan estate planning and elder law attorneys, we often discuss with our client's the importance of having a comprehensive estate plan. A comprehensive estate plan should not be limited to legal documents such as powers of attorney, wills, and trusts. It should also incorporate insurance and financial professionals to make sure you have the appropriate amount of insurance (both life and long term) and investments to best maintain your standard of living into retirement and in the event of disability.

It seems most people are familiar with life insurance and investing for retirement, but few people seem to be familiar with long term care insurance. Some might even ask "what exactly is long term care insurance?" Simply put, long term care insurance is an insurance policy that covers part of the cost of your long term care should require long term care in the future.

As this article states, long term care insurance can make the difference between living out your life the way you want and becoming a burden to your family or a ward of the state. When it comes to purchasing long term care insurance, one should be mindful of the following:

Continue reading "The Importance of Long Term Care Insurance" »

I came across an article this weekend that I thought would be of interest to our readers. As the headline says, it is becoming increasingly more complex for individuals in long term skilled care facilities to qualify for Medicaid. The criteria to qualify for Medicaid is updated quarterly and what was an effective planning technique a year ago or even a few months ago may not be an effective planning technique today. A couple examples of recent changes in the Medicaid laws are extending the look back period for gifts to 5 years from 3 years, and the implementation of estate recovery.

The article gives a couple helpful tips as to how to protect and preserve your assets and still qualify for Medicaid. The most important tip, and one that I cannot stress enough, is to seek professional help. The Medicaid laws are increasingly complex so it is important that you meet with an attorney that specializes in elder law. Many attorneys who aren't experienced elder law attorneys often times are unaware of the strategies that can be implemented to qualify an individual in a long term skilled care facility for Medicaid. By meeting with an experienced elder law attorney, you ensure that you will receive the proper advice on how to provide your loved one with the greatest quality care at the least cost to the family.

Continue reading "Medicaid Gets Harder to Tap" »