Practice areas
- Estate Planning
- Medicaid Planning
- Special-Needs Planning
- Estate and Trust Administration
Practice areas
- Estate Planning
- Medicaid Planning
- Special-Needs Planning
- Estate and Trust Administration
- Estate Planning
- Medicaid Planning
- Special-Needs Planning
- Estate and Trust Administration
- Estate Planning
- Medicaid Planning
- Special-Needs Planning
- Estate and Trust Administration
Estate planning means designing a system that plans for the management of your health and wealth (and those financially dependent on you) during episodes of incapacity, and the orderly and effective inheritance of your assets at death. At death, it efficiently coordinates the giving of what you have, to whom you want, and the way you want. It is designed to avoid probate, and thus the costs accompanying it, like the additional stress and avoidable administrative expenses.
I advise families with concerns about medicare, medicaid, and placement in assisted-living facilities and nursing facilities. I guide families in the financially beneficial ways of protecting assets to become eligible for medicaid long-term care benefits. A consult will help lessen the anxiety felt when a family member knows neither where to turn nor what to do next concerning placement and concerning the high cost of long-term care. The cost of this care can be about $7,500 to $12,000 per-month.
There are legal ways to preserve the assets, protect the healthy spouse from impoverishment, and best of all, continue with the care.
Owning cash resources above $2,000 disqualifies certain persons with developmental disabilities or other special-needs from remaining qualified to receive needs-based governmental benefits—such as Medicaid or Supplemental Security Income (SSI). This type of planning allows a loved-one to enjoy the wealth, yet remain qualified to receive the governmental benefits.
I counsel families through the administrative concerns arising after a family member's death or during their incapacity.
400 Maple Park Blvd., Suite 402, St. Clair Shores, Michigan 48081
Patrick J. Bond, attorney (586) 447-3717 phone (586) 447-3755 fax pbond@bondelderlaw.com