2024 Estate Planning Goals: A Year in Review

Miller Estate and Elder Law

https://millerestateandelderlaw.com/

18:09

HR is no longer just about managing people—it’s about shaping the future of work. Jens Baier, BCG’s HR transformation expert, discusses how AI and shifting employee expectations are forcing companies to rethink talent strategies. From re-recruiting to upskilling employees, HR must adapt to a rapidly changing landscape. Learn More: Jens Baier: https://on.bcg.com/41ca7Gv BCG on People Strategy: https://on.bcg.com/3QtAjro Decoding Global Talent: https://on.bcg.com/4gUC4IT…

大约1年之前 25:19

MP3•单集首页

The conversation also covers the benefits of trusts, the complexities of navigating dementia care, and the significance of long-term care insurance. Bill provides insights into strategies for paying for long-term care and protecting assets, urging listeners to take proactive steps in their planning.

Takeaways

Planning ahead can prevent family difficulties during crises.
There are three essential documents: power of attorney, advanced directive, will.
Trusts can protect assets and provide for children.
Dementia care requires a roadmap for families.
Long-term care insurance can leverage assets effectively.
Beneficiary designations alone are insufficient for estate planning.
Proper planning can protect assets from nursing home costs.
HIPAA authorizations are crucial for medical decision-making.
Self-help estate planning often leads to inadequate documents.
Consulting professionals is vital for effective estate planning.

Chapters

(00:00) Introduction to Estate Planning and Elder Law

(08:48) Understanding Trusts and Their Benefits

(17:54) Long-Term Care Insurance: A Smart Investment

(25:00) Protecting Assets and Planning for the Future

Learn More and Connect with Bill Miller

https://www.facebook.com/MillerEstateandElderLaw/

https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/

https://twitter.com/attybillmiller

https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A

29集单集

#Business #Podcasting Education #Miller

2024 Estate Planning Goals: A Year in Review

Miller Estate and Elder Law

published 大约1年之前

MP3•单集首页

Takeaways

Planning ahead can prevent family difficulties during crises.
There are three essential documents: power of attorney, advanced directive, will.
Trusts can protect assets and provide for children.
Dementia care requires a roadmap for families.
Long-term care insurance can leverage assets effectively.
Beneficiary designations alone are insufficient for estate planning.
Proper planning can protect assets from nursing home costs.
HIPAA authorizations are crucial for medical decision-making.
Self-help estate planning often leads to inadequate documents.
Consulting professionals is vital for effective estate planning.

Chapters

(00:00) Introduction to Estate Planning and Elder Law

(08:48) Understanding Trusts and Their Benefits

(17:54) Long-Term Care Insurance: A Smart Investment

(25:00) Protecting Assets and Planning for the Future

Learn More and Connect with Bill Miller

https://millerestateandelderlaw.com/

https://www.facebook.com/MillerEstateandElderLaw/

https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/

https://twitter.com/attybillmiller

https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A

29集单集

#Business #Podcasting Education #Miller

所有剧集

Miller Estate and Elder Law

1
How to Get Paid as a Caregiver in Alabama 25:51

12天之前25:51

25:51

In this episode, attorney Bill Miller discusses the intricacies of becoming a paid caregiver in Alabama, emphasizing the importance of understanding legal frameworks, benefits available, and the necessity of formal agreements. He highlights the emotional and financial challenges caregivers face, the significance of planning for end-of-life issues, and the need for self-care to prevent burnout. This conversation provides valuable insights into navigating the complexities of caregiving, Medicaid, and estate planning. Takeaways Caregivers can and should get paid for their services. Establishing a formal caregiver agreement is crucial. VA benefits can significantly aid in caregiving costs. Activities of daily living must be documented for care justification. Medicaid qualification requires careful financial planning. End-of-life wishes should be discussed and documented early. Understanding available benefits is essential for caregivers. Common mistakes can jeopardize Medicaid eligibility. Self-care is vital for maintaining caregiver health. Planning ahead can alleviate future financial burdens. Chapters (00:00) Introduction to Caregiving and Legal Considerations (02:50) Understanding VA Benefits for Caregivers (05:49) Establishing a Caregiver Agreement (08:47) Activities of Daily Living and Justifying Care (12:07) Navigating Medicaid and Financial Planning (15:10) End-of-Life Planning and Legal Documents (18:05) Understanding Available Benefits for Care (21:00) Common Mistakes in Caregiving and Planning (23:57) Self-Care for Caregivers (26:58) Conclusion and Resources for Caregivers Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
Having a Will Is Not an Estate Plan 16:12

6 weeks之前16:12

16:12

In this episode, attorney Bill Miller discusses the common misconception that having a will is sufficient for estate planning. He shares a case study illustrating the complications that can arise when individuals do not have a comprehensive estate plan, including the necessity of powers of attorney and advanced healthcare directives. The conversation emphasizes the importance of understanding probate, asset distribution, and the need for a complete estate plan that goes beyond just a will. Takeaways A will is only one part of an estate plan. Many people mistakenly believe a will is enough. Without a power of attorney, accessing funds can be difficult. Probate can be a lengthy and costly process. Beneficiary designations can override a will. Blended families require careful estate planning. Advanced directives are crucial for healthcare decisions. Trusts can provide more flexibility than wills. Education on estate planning is essential for families. Comprehensive planning can prevent family disputes. Chapters (00:00) Introduction to Estate Planning Misconceptions (05:30) The Limitations of a Will (15:46) The Importance of Comprehensive Estate Planning…

Miller Estate and Elder Law

1
Long Term Care Insurance: Understanding Your Options 20:51

6 weeks之前20:51

20:51

In this episode, attorney Bill Miller discusses the intricacies of long-term care insurance, focusing on the importance of planning for potential long-term care needs. He explains the three primary ways to pay for long-term care, the benefits of long-term care insurance, and the differences between traditional and asset-based long-term care insurance. The conversation emphasizes the need for individuals to understand their options and the implications of each type of insurance, as well as the criteria for qualifying for claims. Takeaways Long-term care insurance helps leverage assets instead of liquidating them. Medicaid has strict qualification requirements that many find challenging. Traditional long-term care insurance often has increasing premiums and limited benefits. Asset-based long-term care insurance offers lifetime benefits and is not 'use it or lose it'. Qualifying for long-term care insurance requires assistance with daily living activities. Inflation riders can help maintain the value of long-term care benefits over time. It's crucial to understand the specific features of each insurance policy. Long-term care expenses can significantly impact retirement savings. Using an IRA to fund long-term care insurance can minimize tax implications. Planning for long-term care should be tailored to individual circumstances. Chapters (00:00) Introduction to Long-Term Care Planning (01:00) Understanding Long-Term Care Insurance (06:08) Types of Long-Term Care Insurance (11:58) Asset-Based vs Traditional Long-Term Care Insurance (18:13) Qualifying for Long-Term Care Insurance Claims…

Miller Estate and Elder Law

1
2024 Estate Planning Goals: A Year in Review 25:19

10 weeks之前25:19

25:19

In this episode of the Miller Estate and Elder Law Podcast, attorney Bill Miller discusses the critical importance of estate planning and elder law, emphasizing the need for proper legal documents to protect families from the challenges of long-term care. He shares real-life stories illustrating the consequences of inadequate planning and outlines essential documents such as powers of attorney, advanced directives, and wills. The conversation also covers the benefits of trusts, the complexities of navigating dementia care, and the significance of long-term care insurance. Bill provides insights into strategies for paying for long-term care and protecting assets, urging listeners to take proactive steps in their planning. Takeaways Planning ahead can prevent family difficulties during crises. There are three essential documents: power of attorney, advanced directive, will. Trusts can protect assets and provide for children. Dementia care requires a roadmap for families. Long-term care insurance can leverage assets effectively. Beneficiary designations alone are insufficient for estate planning. Proper planning can protect assets from nursing home costs. HIPAA authorizations are crucial for medical decision-making. Self-help estate planning often leads to inadequate documents. Consulting professionals is vital for effective estate planning. Chapters (00:00) Introduction to Estate Planning and Elder Law (08:48) Understanding Trusts and Their Benefits (17:54) Long-Term Care Insurance: A Smart Investment (25:00) Protecting Assets and Planning for the Future Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
Taxes Taxes Taxes: What You Need to Know 23:18

11 weeks之前23:18

23:18

In this episode of the Miller Estate and Elder Law Podcast, attorney Bill Miller discusses the intricacies of taxes related to estate planning. He covers three main types of taxes: income taxes, gift and estate taxes, and capital gains taxes. Bill emphasizes the importance of understanding how these taxes work, particularly in relation to trusts and Medicaid. He clarifies common misconceptions about who pays these taxes and provides insights into tax exemptions and implications for IRAs. The episode concludes with a reminder to consult with a CPA for specific tax advice. Takeaways Most people don't have issues with taxes when it comes to estate plans. Gift and estate taxes are paid by the giver, not the receiver. In 2024, the annual gift tax exclusion is $18,000 per person. You can give away almost as much as you want without tax implications. Medicaid has different rules regarding gifts compared to tax rules. Capital gains tax rates are typically less than income tax rates. You can get a capital gains exemption on your home if lived in for 2 out of 5 years. Inherited assets receive a stepped-up tax basis, reducing capital gains tax. IRAs must be owned by individuals, not trusts, unless inherited. Most of the time, gift taxes rarely apply to the average person. Chapters (00:00) Introduction to Estate Planning and Taxes (06:05) Gift and Estate Taxes Explained (12:01) Navigating Capital Gains Tax (20:50) IRAs and Tax Implications (26:07) Conclusion and Key Takeaways Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
10 Things You Should Do to Get Your Estate in Order 22:18

15 weeks之前22:18

22:18

In this episode of the Miller Estate and Elder Law Podcast, attorney Bill Miller discusses the essential steps to get your estate plan in order. He emphasizes the importance of having advanced directives, a durable financial power of attorney, a will, and a trust. The conversation also covers practical aspects such as prepaid funeral plans, organizing financial accounts, and ensuring access to safe deposit boxes. Bill highlights the significance of verifying account ownership and beneficiary designations, compiling personal data for loved ones, and designating personal property to avoid family disputes. This comprehensive overview serves as a guide to navigate the complexities of estate planning effectively. Takeaways Create or update your advanced directive for healthcare. A durable financial power of attorney is crucial for decision-making. Wills govern probate assets and should be updated regularly. Trusts can provide asset protection and avoid probate. Prepaid funeral plans can relieve family stress during difficult times. Organizing financial accounts helps loved ones manage your estate. Access to safe deposit boxes should be arranged in advance. Verify account ownership and beneficiary designations to prevent issues. Compile personal data, including passwords, for your family. Designate personal property to avoid family disputes after your passing. Chapters (00:00) Introduction to Estate Planning Essentials (06:31) Durable Financial Power of Attorney Explained (12:35) Prepaid Funeral Plans: A Thoughtful Choice (19:00) Compiling Personal Data for Your Loved Ones Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
The Problems with Relying on Beneficiary Designations and POD Designations 23:52

16 weeks之前23:52

23:52

In this episode of the Miller Estate and Elder Law Podcast, attorney Bill Miller discusses the complexities of estate planning, particularly focusing on the implications of beneficiary designations and the advantages of using revocable living trusts. Through the story of Mr. Baker, learn about potential pitfalls, such as the impact on disabled beneficiaries and the challenges faced by underage heirs. The conversation emphasizes the importance of careful planning to avoid costly legal issues and ensure that assets are managed according to the deceased's wishes. In this conversation, Bill Miller discusses the importance of trusts—particularly special needs trusts—in estate planning. He emphasizes how these trusts can protect the assets of disabled beneficiaries, address potential tax issues, and ensure continuity of asset management and distribution. The discussion also highlights the limitations of relying solely on beneficiary designations and the advantages of having a revocable living trust. Takeaways Beneficiary designations can lead to unintended consequences. Trusts offer more control over asset distribution. Underage beneficiaries require special considerations in estate planning. Conservatorship can be a costly and time-consuming process. Planning for disabled beneficiaries is crucial to protect their benefits. A revocable trust can help manage assets for minors effectively. Estate planning should consider the order of death among family members. Trusts can provide specific terms for asset management after death. Beneficiary designations may avoid probate but can complicate matters. Effective estate planning requires a comprehensive understanding of laws. Special needs trusts protect disabled beneficiaries' assets. Trusts can be beneficial for spouses on Medicaid. Leaving assets to a non-disabled child can be risky. Trusts provide better management of assets during incapacity. Beneficiary designations may not cover all contingencies. Trusts can help with tax issues and protect inheritances. Continuity of asset management is essential for families. Trusts allow for staggered payouts to prevent misuse of funds. Trusts can address potential addiction issues in beneficiaries. Not everyone needs a trust, but they can be very useful. Chapters (00:00) Introduction to Estate Planning and Elder Law (06:48) Challenges with Underage Beneficiaries (11:51) Protecting Disabled Beneficiaries (19:00) Addressing Tax and Legal Issues with Trusts (24:50) Comparing Trusts and Beneficiary Designations Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
The Secure Act 17:18

20 weeks之前17:18

17:18

In this episode, attorney Bill Miller discusses the implications of the Secure Act on estate planning—particularly focusing on asset protection and long-term care costs. He outlines scenarios involving families facing potential nursing home expenses and how the Secure Act has altered the landscape for inherited IRAs, emphasizing the importance of strategic planning to protect assets for future generations. Takeaways The Secure Act impacts how inherited IRAs are taxed. Asset protection planning is essential for families facing long-term care costs. Medicaid asset protection trusts can safeguard assets from nursing home expenses. The 10-year rule for IRA distributions requires careful financial planning. Cashing in IRAs may be a viable option for asset protection. Nursing home costs are expected to rise significantly in the coming years. Estate planning should be tailored to individual circumstances. Understanding tax implications is crucial when making financial decisions. Families should consider their unique situations when planning for long-term care. Workshops and resources are available for further education on estate planning. Chapters (00:00) Introduction to Estate Planning and the Secure Act (03:00) Understanding Asset Protection and Medicaid Trusts (06:03) The Impact of the Secure Act on Inherited IRAs (09:12) Navigating the 10-Year Rule for IRA Distributions (12:09) Strategies for Protecting Assets from Long-Term Care Costs (14:50) Conclusion and Resources for Further Learning Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
Estate Planning (or Lack Thereof) Horror Stories 22:57

22 weeks之前22:57

22:57

In this spooky episode, attorney Bill Miller discusses the critical importance of estate planning, sharing real-life horror stories that illustrate the dire consequences of not having a proper estate plan in place. He highlights various scenarios where individuals faced significant challenges due to inadequate planning, including issues related to intestacy laws, guardianship, and the pitfalls of simple wills. This eye-opening conversation emphasizes the need for comprehensive planning to protect families and assets—ensuring that wishes are honored, and burdens are minimized for loved ones. Takeaways Estate planning is essential to avoid harsh consequences. Intestacy laws can lead to unintended beneficiaries. Guardianship can be costly and emotionally taxing. Simple wills often overlook complex family dynamics. Proper planning can protect disabled beneficiaries' benefits. Communication with family about estate plans is crucial. Provisions should be made for potential future needs. Estate planning should be revisited regularly as circumstances change. Professional guidance can help navigate complex situations. Workshops and resources are available for further education. Chapters (00:00) Introduction to the Importance of Estate Planning (02:07) Scary Consequences of Not Having an Estate Plan (12:23) Common Pitfalls in Simple Wills (20:17) The Need for Comprehensive Planning (23:06) Conclusion and Call to Action Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
What You Will Learn at Our Estate Planning Workshop 23:57

24 weeks之前23:57

23:57

In this episode, attorney Bill Miller provides an overview of estate planning and asset protection. He discusses common mistakes people make, such as putting their children's names on bank accounts and deeding property to their children. He emphasizes the importance of having the right kind of durable financial power of attorney, advance directive for healthcare, and a will or trust. He also explains the benefits of revocable and irrevocable trusts, as well as the options for paying for long-term care, including Medicaid and long-term care insurance. Want to learn more? Attend one of our upcoming estate planning workshops for more detailed information. Takeaways Avoid common estate planning mistakes, such as putting children's names on bank accounts and deeding property to children. Ensure you have the right kind of durable financial power of attorney, advance directive for healthcare, and a will or trust. Consider the benefits of revocable and irrevocable trusts for avoiding probate and protecting assets. Explore options for paying for long-term care, including Medicaid and long-term care insurance. Attend our workshops or webinars for more detailed information on estate planning and asset protection. Chapters (00:00) Introduction and Disclaimer (02:00) Common Mistakes in Estate Planning (06:40) The Importance of the Right Documents (12:10) Understanding Revocable and Irrevocable Trusts (14:06) Options for Paying for Long-Term Care (23:43) Attend Workshops for Detailed Information Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
Our Dementia Care Journey Navigation Service 20:41

26 weeks之前20:41

20:41

In this episode, attorney Bill Miller discusses the importance of having a plan in place when a loved one is diagnosed with dementia. He shares several stories that highlight the challenges faced by families who do not have the proper legal documents and strategies in place. He introduces the Dementia Care Navigation service offered by his firm, which provides a comprehensive plan to help families navigate the journey of dementia care. The service includes financial planning, legal support, family support, care advocacy, medical support, and assistance with transitions. Takeaways Having a plan in place is crucial when a loved one is diagnosed with dementia. Proper legal documents, such as a durable power of attorney and advance directive for healthcare, are essential for making decisions and accessing resources. Families should seek the assistance of an elder care attorney to ensure their legal documents have the necessary powers and protections. The Dementia Care Navigation service provides a comprehensive plan to help families navigate the challenges of dementia care, including financial planning, legal support, family support, care advocacy, medical support, and assistance with transitions. Chapters (00:00) Introduction and Disclaimer (02:01) Challenges Faced by Families Without a Plan (09:04) Introducing the Dementia Care Navigation Service (12:52) Components of the Dementia Care Navigation Service (19:59) Importance of Early Intervention (21:27) Conclusion and Call to Action Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
From Crisis to Clarity: How We Helped These Clients Overcome Medicaid Challenges 23:39

29 weeks之前23:39

23:39

In this episode, attorney Bill Miller discusses how his firm helps families who have a loved one going into a nursing home and how their planning can help protect assets. He shares three different scenarios of families they have helped, highlighting that asset protection planning is not just about protecting money for the next generation, but also about ensuring that families don't lose everything they have worked for to nursing home costs. The strategies they use include setting up accounts with the Alabama Family Trust, purchasing Medicaid compliant annuities, and increasing the income of the community spouse. Takeaways Asset protection planning is not just about protecting money for the next generation, but also about ensuring that families don't lose everything they have worked for to nursing home costs. Strategies such as setting up accounts with the Alabama Family Trust and purchasing Medicaid compliant annuities can help families qualify for Medicaid more quickly and protect assets. In cases where a spouse goes to a nursing home, it can be difficult for the remaining spouse to make ends meet on a reduced income. Planning can help ensure the community spouse has enough money to live comfortably. Having the right type of power of attorney is crucial for Medicaid planning, as it allows family members to make necessary financial decisions on behalf of the individual going into a nursing home. It is important to consider Medicaid planning ahead of time by transferring assets into an irrevocable trust, but even if planning is done in a crisis situation, having the necessary documentation is crucial. Chapters (00:00) Introduction and Purpose of Asset Protection Planning (01:53) Asset Protection Planning to Qualify for Medicaid (04:39) Challenges Faced by the Community Spouse (08:45) Using Medicaid Compliant Annuities to Pay for Care (10:39) Challenges Faced by Nursing Homes (19:22) Increasing the Income of the Community Spouse (23:05) Importance of the Right Type of Power of Attorney Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
The Five Biggest Mistakes People Make When Applying for Medicaid 26:40

31 weeks之前26:40

26:40

In this episode, attorney Bill Miller discusses the five biggest mistakes that people make when applying for Medicaid to pay for nursing home care. He shares stories and examples to illustrate these mistakes and provides valuable insights on how to avoid them. The mistakes include not having the right kind of power of attorney, thinking that assets in a trust are protected from nursing home costs, giving away or selling assets for less than fair market value, failing to transfer assets to eligible beneficiaries, and failing to implement strategies to maximize the resources of the community spouse. He emphasizes the importance of proper planning and seeking advice from an elder law attorney. Takeaways Having the right kind of power of attorney and trust is crucial for asset protection and Medicaid planning. Assets in a revocable trust are not protected from nursing home costs. Giving away or selling assets for less than fair market value can result in Medicaid penalties. Transferring assets to eligible beneficiaries, such as disabled children, can be done without penalties. Strategies can be implemented to maximize the resources of the community spouse. Proper planning and seeking advice from an elder law attorney are essential to avoid costly mistakes when applying for Medicaid. Chapters (00:00) Introduction and Disclaimer (04:19) Mistake 1: Not Having the Right Power of Attorney and Trust (08:37) Mistake 2: Thinking Assets in a Revocable Trust Are Protected (11:42) Mistake 3: Converting Exemplary Sources (13:47) Mistake 4: Failing to Transfer Assets to Eligible Beneficiaries (16:35) Mistake 5: Failing to Implement Strategies for the Community Spouse (20:12) Conclusion and Importance of Proper Planning Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
Caring for Aging Parents: What Caregivers Need to Know 35:29

33 weeks之前35:29

35:29

In this episode, attorney Bill Miller discusses the challenges faced by caregivers and provides valuable information on what caregivers need to know. He emphasizes the importance of having open conversations with aging parents about their wishes and end-of-life care. He also highlights the significance of creating or updating legal plans, including powers of attorney and healthcare directives. He advises caregivers to be aware of the cost of care and explore options such as long-term care insurance, veterans benefits, and Medicaid planning. Additionally, he encourages caregivers to seek help, stay organized, and prioritize self-care. Takeaways Have open conversations with aging parents about their wishes and end-of-life care Create or update legal plans, including powers of attorney and healthcare directives Be aware of the cost of care and explore options such as long-term care insurance, veterans benefits, and Medicaid planning Seek help, stay organized, and prioritize self-care as a caregiver Chapters (00:00) Introduction and Disclaimer (02:19) The Sacrifices of Caregivers (04:09) Having the Conversation: End-of-Life Wishes (09:10) Continual Planning for Healthcare (15:47) Creating or Updating Legal Plans (23:54) Navigating the Cost of Care (29:04) Getting Organized: Documents and Information (35:08) Seeking Help and Self-Care Learn More and Connect with Bill Miller https://millerestateandelderlaw.com/ https://www.facebook.com/MillerEstateandElderLaw/ https://www.linkedin.com/in/bill-miller-estate-and-elder-law-attorney-44036511/ https://twitter.com/attybillmiller https://www.youtube.com/channel/UC_UuzlnOOHGmiGHgPY7FZ6A…

Miller Estate and Elder Law

1
Wills Versus Trusts in Estate Planning 19:30

35 weeks之前19:30