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| Law Office of Alice Reiter Feld and Associates |
 | Center for
Asset Preservation and
Long Term Care Planning |
| Monday Memo | September 27, 2010 |
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Florida Says: "I want my money back" | |
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Greetings!
Did you know that the state can and does seek repayment of Medicaid benefits from the estate of the deceased recipient?
"How to Avoid Probate" may sound so "80s" but there is one VERY IMPORTANT reason for avoiding probate that is rarely discussed.
It's all about doing a complete Medicaid Application from beginning to end.
And that means not only getting Medicaid benefits but also protecting the family after death by making sure the money doesn't go back!
Probate is the court process for gathering a decedent's assets, paying taxes and claims, and distributing assets to the beneficiaries. In the 27 years I have been practicing law, everyone was adamant about wanting to avoid probate. Ironically there was rarely anyone who knew what it was or why they wanted to avoid it!
Generally probate is only necessary when a person dies with assets in his or her own name alone. Assets in a living trust, jointly held or with a beneficiary do not have to go through probate.
If a person dies with assets, the state is entitled to "recover" those assets to pay for the services rendered.
However, Estate Recovery can only happen to probate assets.
I have attached an example of a client who found an insurance policy after the death of her mother. ( click here) As you can see, the state is asking for the proceeds of the policy to cover a lien of more than $100,000. In this very isolated case, this could not be foreseen because the daughter didn't know the policy existed.
It is very important that no family goes through estate recovery on assets that have been disclosed prior to the filing of the application. This can be a landmine for the inexperienced planner.
So please make sure your estate and those of your patients and clients are protected. Sincerely, Alice Reiter Feld |
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 Seminars | |
Important Upcoming Workshops Reveal:
How to Get Medicaid and Veteran's Benefits Coverage For Your Assisted Living or Nursing Home Care . . .
Without Selling Your Home or Leaving Your Family Without a Dime.
A free informational seminar hosted by Board Certified, local Elder Law Attorney Alice Reiter Feld, P.A.
This is a critical presentation for all professionals in the elder care industry, and especially for senior citizens, their family members and care takers.
Saturday, October 16 at 10:00 AM
Courtyard by Marriott
1601 N. Congress Avenue,
Boynton Beach FL 33426 map** North of Boynton Beach Boulevard
Thursday, October 21 at 6:00 PM
Law Offices of Alice Reiter Feld and Associates
5701 N. Pine Island Road, Suite 260 Tamarac, FL 33321 map
**Convenient to the Turnpike and Sawgrass
Discover the Newest Changes in the Law: Medicaid financing is now permanently available for not only nursing home care but assisted living and home care. Find out what changed and how it can help you!
Attendance at this brand new workshop is free, but seating is limited.
The workshops fill up quickly, so call now.
** Special Bonus**
Attendees will receive a FREE copy of The Consumer's Guide to Medicaid and Asset Protection for Long Term Care. This guide has been updated to reflect the new law changes that have just been passed.
Again call the Law Offices of Alice Reiter Feld to reserve your spot.
Act Today! We fill up quickly!
Call (954) 726-6602 or (561) 496 0077 Email: Elana@florida-elderlaw.com "Out of Time, Out of Money, Out of Options"
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Alice Reiter Feld,
Board Certified Elder Law Attorney
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The Law Offices of Alice Reiter Feld | |
3 Convenient Locations! | |
Tamarac
5701 N. Pine Island Road, Suite 260
Tamarac, Florida 33321 map
Phone: (954) 726-6602
Boca Raton
5550 Glades Road, Suite 500 - AmTrust Building
Boca Raton, FL 33431 map
Phone: (561) 961-5400
Delray Beach
Delray Commons - SW Corner
2160 West Atlantic Avenue, 2nd Floor
Delray Beach, FL 33445 map
Phone: (561) 496-0077 |
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