The document discusses estate and Medicaid planning issues for widowed persons. It recommends considering a living trust to avoid probate. It also recommends updating your estate plan to review agents and ensure trusts and accounts have the proper beneficiaries and ownership. The document provides tips for tax planning, remarriage considerations, planning for high net worth individuals, and Medicaid planning strategies like gifting and prepaying a funeral contract.

1. ESTATE AND MEDICAID
PLANNING ISSUES FOR
WIDOWED PERSONS
P. Haans Mulder, JD, MST, CFP®
Cunningham Dalman, P.C.
321 Settlers Road
Holland, MI 49423
(616) 392-1821
phmulder@holland-law.com

2. Background
• Partner at Cunningham Dalman, P.C.
• Practicing for 10 years
• Have a Masters in Tax and am a Certified
Financial Planner®
• Specialize in estates/elder law and business
planning
Serving the Holland area since 1900

3. Background
• Cunningham Dalman, P.C. has been
serving the greater Holland/Zeeland since
1900
• Has 14 attorneys practicing in all areas of
the law
Serving the Holland area since 1900

4. Consider a Living Trust
• A last will and testament does not avoid
probate
• Jointly owning property with a child has its
risks (divorce and creditors)
• A living trust avoids the cost and stress of
probate
Serving the Holland area since 1900

5. Update Your Estate Plan
• Have been changes the law regarding
health care powers of attorney
• Review appointment of successor trustee,
personal representative, financial agent,
and health care agent
• Involve a trusted child
Serving the Holland area since 1900

6. Ownership and Beneficiaries
• Make sure the trust is the owner
• Talk to your adviser about the
beneficiary of retirement accounts
• Check your beneficiaries on life
insurance and retirement accounts
Serving the Holland area since 1900

7. Tax Planning Issues
• Name a charity as the beneficiary of a
retirement account
• “Down-size” to avoid income taxes on
sale of your house if there’s been
significant appreciation and your spouse
passed less than two
years ago
Serving the Holland area since 1900

8. Remarriage Considerations
• Seek advice on a prenuptial
agreement
• Consider having separate trusts and
fund them appropriately
• Are there rights to live in the house
after a spouse passes
Serving the Holland area since 1900

9. High Net Worth
• If you have over $1 million, be aware
of the estate tax (55% tax)
• Ask your attorney about gifting options
• Consider charitable planning
techniques
Serving the Holland area since 1900

10. Medicaid Planning
• Have your attorney draft a ladybird
deed for your house
• Prepay a funeral contract
• If you’re healthy, consider gifting to a
divestment trust (consult an elder law
attorney)
Serving the Holland area since 1900

11. Questions……
Serving the Holland area since 1900

12. Thank You
P. Haans Mulder, JD, MST, CFP®
Cunningham Dalman, P.C.
321 Settlers Road
Holland, MI 49423
(616) 392-1821
phmulder@holland-law.com
www.holland-law.com
Serving the Holland area since 1900