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ESTATE RECOVERY:  HOW TO PROTECT YOURSELF FROM A REIMBURSEMENT CLAIM OF THE STATE OF MICHIGAN<br />P. Haans Mulder, JD, MS...
Background<br />Attorney and Partner at Cunningham Dalman, P.C.<br />Have a Masters in Tax (MST), CFP® and specialize in e...
Background<br />Cunningham Dalman, P.C. has been serving the lakeshore since 1900<br />We have 15 attorneys specializing i...
Overview<br />What is estate recovery and why is it important<br />What types of assets does estate recovery apply to<br /...
Overview<br />How do you protect your assets against it<br />What options do you have if it does impact you<br />Some othe...
What is estate recovery?<br />It is a process that the State of Michigan gets reimbursed for the Medicaid services it has ...
What is estate recovery?<br />It applies to people age 55 years or older who have received Medicaid (i.e. long term care) ...
What assets does estate recover apply to?<br />It only applies to assets that have to be probated<br />That has the potent...
What assets does estate recover apply to?<br />But…the only assets that are typically left are:  bank account, personal pr...
What does the estate recovery process look like?<br />A family member will receive an estate recovery questionnaire when t...
What does the estate recovery process look like?<br />It is not clear what happens next…<br />If you have a basis to claim...
How do you protect against estate recovery?<br />The most effective way to protect your house is with a “ladybird deed” be...
How do you protect against estate recovery?<br />This deed has other benefits<br />The house remains an exempt asset durin...
How do you protect against estate recovery?<br />What about other assets besides the house<br />You should make sure they ...
What options do you have if estate recovery impacts you?<br />There might be an exemption<br />There is an exemption for a...
What options do you have if estate recovery impacts you?<br />An exemption applies if there is a child who is blind or per...
What options do you have if estate recovery impacts you?<br />An exemption applies to a Medicaid recipient’s sibling who h...
What options do you have if estate recovery impacts you?<br />You might be able to obtain a “hardship waiver”<br />This ap...
What options do you have if estate recovery impacts you?<br />This is defined as a house that is less than 50% of the aver...
Some other things to be concerned about<br />When a single person is on Medicaid, he or she can keep the house<br />Howeve...
Some other things to be concerned about<br />This typically means that a child or beneficiary must pay these expenses<br /...
Some other things to be concerned about<br />This gives your reimbursement claim higher priority than the State of Michiga...
Some other things to be concerned about<br />You should make sure the Medicaid recipient has signed a financial (also know...
This is subject to change so you have to stay informed… <br />Serving the Holland area since 1900<br />
Stay informed by receiving our monthly newsletter (register by emailing mary@holland-law.com)<br />Serving the Holland are...
Questions……<br />Serving the Holland area since 1900<br />
Thank You<br />P. Haans Mulder, JD, MST, CFP®<br />Cunningham Dalman, P.C.<br />321 Settlers Road<br />Holland, MI 49423<b...
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Estate Recovery: How to Protect Your Assets from a Reimbursement Claim of the State

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Estate Recovery: How to Protect Your Assets from a Reimbursement Claim of the State

  1. 1. ESTATE RECOVERY: HOW TO PROTECT YOURSELF FROM A REIMBURSEMENT CLAIM OF THE STATE OF MICHIGAN<br />P. Haans Mulder, JD, MST, CFP®<br />Cunningham Dalman, P.C.<br />321 Settlers Road<br />Holland, MI 49423<br />(616) 392-1821<br />phmulder@holland-law.com<br />
  2. 2. Background<br />Attorney and Partner at Cunningham Dalman, P.C.<br />Have a Masters in Tax (MST), CFP® and specialize in estates/elder law and business planning<br />Serving the Holland area since 1900<br />
  3. 3. Background<br />Cunningham Dalman, P.C. has been serving the lakeshore since 1900<br />We have 15 attorneys specializing in all areas of the law<br />Serving the Holland area since 1900<br />
  4. 4. Overview<br />What is estate recovery and why is it important<br />What types of assets does estate recovery apply to<br />When does it apply and what does the process look like<br />Serving the Holland area since 1900<br />
  5. 5. Overview<br />How do you protect your assets against it<br />What options do you have if it does impact you<br />Some other things to be concerned about<br />Serving the Holland area since 1900<br />
  6. 6. What is estate recovery?<br />It is a process that the State of Michigan gets reimbursed for the Medicaid services it has paid for<br />It does not put a lien (i.e. a Medicaid lien) on your exempt assets during your life or force a sale <br />Serving the Holland area since 1900<br />
  7. 7. What is estate recovery?<br />It applies to people age 55 years or older who have received Medicaid (i.e. long term care) services<br />Covers Medicaid services back to September 30, 2007<br />Serving the Holland area since 1900<br />
  8. 8. What assets does estate recover apply to?<br />It only applies to assets that have to be probated<br />That has the potential to include all assets (house, bank accounts, investments, vehicle, personal property, etc.)<br />Serving the Holland area since 1900<br />
  9. 9. What assets does estate recover apply to?<br />But…the only assets that are typically left are: bank account, personal property (including vehicle), and your house<br />The house will be the most significant asset, but do not loose sight of the others<br />Serving the Holland area since 1900<br />
  10. 10. What does the estate recovery process look like?<br />A family member will receive an estate recovery questionnaire when the Medicaid recipient passes<br />The form indicates that it needs to be completed in two weeks <br />Serving the Holland area since 1900<br />
  11. 11. What does the estate recovery process look like?<br />It is not clear what happens next…<br />If you have a basis to claim a “hardship waiver,” you need to request that form<br />Serving the Holland area since 1900<br />
  12. 12. How do you protect against estate recovery?<br />The most effective way to protect your house is with a “ladybird deed” because it avoids probate<br />There is an attempt to change this so you should consider doing it now if it is “grandfathered”<br />Serving the Holland area since 1900<br />
  13. 13. How do you protect against estate recovery?<br />This deed has other benefits<br />The house remains an exempt asset during the Medicaid recipient’s life<br />By having the house avoid probate, those costs and that hassle are also avoided<br />Serving the Holland area since 1900<br />
  14. 14. How do you protect against estate recovery?<br />What about other assets besides the house<br />You should make sure they avoid probate (i.e. having your trust named as owner, naming a beneficiary, etc.)<br />Serving the Holland area since 1900<br />
  15. 15. What options do you have if estate recovery impacts you?<br />There might be an exemption<br />There is an exemption for a Medicaid recipient’s spouse<br />An exemption applies if there is a child who is under 21 years old and is living in the house<br />Serving the Holland area since 1900<br />
  16. 16. What options do you have if estate recovery impacts you?<br />An exemption applies if there is a child who is blind or permanently disabled and is living in the house<br />Another exemption covers someone who cared for the Medicaid recipient for two years and this delayed Medicaid<br />Serving the Holland area since 1900<br />
  17. 17. What options do you have if estate recovery impacts you?<br />An exemption applies to a Medicaid recipient’s sibling who has an ownership interest in the house and lived there at least one year before the person was admitted to the nursing home<br />Serving the Holland area since 1900<br />
  18. 18. What options do you have if estate recovery impacts you?<br />You might be able to obtain a “hardship waiver”<br />This applies to farm or business property<br />It also covers a house of “modest value”<br />Serving the Holland area since 1900<br />
  19. 19. What options do you have if estate recovery impacts you?<br />This is defined as a house that is less than 50% of the average value of homes in the county the person lived in<br />It is not clear how this will be applied<br />Serving the Holland area since 1900<br />
  20. 20. Some other things to be concerned about<br />When a single person is on Medicaid, he or she can keep the house<br />However, he or she will not be able to use Social Security and other income to pay the house expenses<br />Serving the Holland area since 1900<br />
  21. 21. Some other things to be concerned about<br />This typically means that a child or beneficiary must pay these expenses<br />You should protect your right to be reimbursed by executing and recording a mortgage against the house<br />Serving the Holland area since 1900<br />
  22. 22. Some other things to be concerned about<br />This gives your reimbursement claim higher priority than the State of Michigan’s estate recovery right<br />You will get paid when the house sells <br />Serving the Holland area since 1900<br />
  23. 23. Some other things to be concerned about<br />You should make sure the Medicaid recipient has signed a financial (also known as a general durable) power of attorney<br />That way, the agent can execute the mortgage<br />Serving the Holland area since 1900<br />
  24. 24. This is subject to change so you have to stay informed… <br />Serving the Holland area since 1900<br />
  25. 25. Stay informed by receiving our monthly newsletter (register by emailing mary@holland-law.com)<br />Serving the Holland area since 1900<br />
  26. 26. Questions……<br />Serving the Holland area since 1900<br />
  27. 27. Thank You<br />P. Haans Mulder, JD, MST, CFP®<br />Cunningham Dalman, P.C.<br />321 Settlers Road<br />Holland, MI 49423<br />(616) 392-1821<br />phmulder@holland-law.com<br />mary@holland-law.com<br />www.holland-law.com<br />Serving the Holland area since 1900<br />

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